LONDON: ITV, the UK's largest commercial broadcaster, is lobbying the country's government to rethink the current rules on product placement, as it seeks to find new ways to offset the seemingly inexorable downward trend in advertising revenues.
In a submission to the Department for Culture, Media and Sport, ITV argues that product placement can be "creatively rather than commercially led", adding a much needed fillip to its bottom line as advertisers cut marketing budgets.
Among the other benefits delivered by a relaxation of the current rules, ITV claims, would be greater funding for original content made in the UK.
By contrast, the current regulations tend to "disadvantage UK producers in competition with overseas producers", particularly as many US imports already heavily feature product placement.
As recently reported, the broadcaster posted a 6% decline in advertising revenues for the first nine months of this year, down to around £25 million.
Data sourced from Telegraph.co.uk; additional content by WARC staff