Jul 17, 2017

New ITV chief faces ad slide and digital threat

Under former chief executive Adam Crozier, ITV reduced its reliance on the cyclical advertising market by expanding its production division, ITV Studios, to become a major player in the international content business. In the face of the challenge posed by online streaming services, ITV and other traditional broadcasters have been looking to grow their own on-demand platforms and develop their digital ad revenues. While these programmes still do well, the new ITV boss will have to consider whether to rethink the formats as younger viewers show less appetite for traditional "Appointment to view" TV. "There's no impending crisis," argues one production executive. The bet ITV made under Mr Crozier was that it could also benefit from the boom in content production that was being driven by increased competition from new digital players. Michael Grade, former chairman of ITV, says Dame Carolyn will have to "Take stock of the acquisitions ITV has made. I am not sure how successful they have been."

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