UK Advertisers Reportedly Hoarding £76m of ITV Revenues

29 May 2006

    LONDON - According to a report in MediaGuardian, UK advertisers and agencies are withholding an estimated £76 million ($141.1m; €110,8m) in TV adspend this summer, with media agencies predicting that ad slots on ITV in July and August could be the cheapest for a decade.

    The UK's largest commercial broadcaster had been banking on an advertising bonanza during the soccer World Cup, with revenues during the period expected to increase by as much as 20%.
    However, thr broadcaster now faces an advertising slump unprecedented for a World Cup event, with June revenues projected to be down year-on-year by 4%.
    According to insiders, the rest of the summer is also likely to fall well short of ITV and media agency expectations.