ITV launches fund to help brands engage an older audience

ITV has launched a £500k fund to give new and lapsed TV brands targeting the over-55s the opportunity to test and scale television advertising to grow their business.

Announcing the match funding at the Silver Marketing Summit, ITV business development director Jason Spencer explained that it could be leveraged in various ways, in individual regions or nationally, for example, or across VOD or linear broadcast channels.

Why it matters

There are 25.7 million people over the age of 50 in the UK who command some £300bn in non-property-related spending power, according to Saga. But this age group is under-represented in TV advertising, and even when they are present, it’s often a stereotype that bears little relation to people’s real lives. There’s huge scope for brands, large and small, to tap into a significant audience with advertising that better engages with them and drives results. 

Takeaways 

• 55+ consumers watch an average of five hours of television a day, rather more than the national average which stands at just over three hours.
• Two-thirds of TV impressions land with 55+ audiences.
• ITV claims to reach 95% of 55+ adults every month across its range of linear and VOD channels.
• 10 million 55+ adults are registered on ITVX.

Key quote

“For many brands, it’s around testing TV for the first time or maybe returning to it after an absence. And it’s about de-risking: testing, learning and scaling. Thinking about things in a way which is easy to measure, but easy also to scale, regardless of the category” – Jason Spencer, Business Development Director at ITV.