ITV CEO Previews the Launch of His Free Streaming Service As Disney, Netflix Ready Ad-Tiers – The Hollywood Reporter
British television giant ITV said that Netflix and Disney+ are preparing advertising levels could expand the wider advertising market and “is kind of about the power of television,” CEO Carolyn said on Tuesday. McCall in London. “We will have to watch very carefully,” she added, however.
Speaking at the Royal Television Society (RTS) London Convention 2022, the executive noted that “they could be complementary to our audience”. So ITV will “deliver mass audiences”, while Netflix could be more of a “complement” for marketers to their main TV ad buys when looking for younger audiences.
McCall discussed ITV’s business and commercial challenges, competition from global streaming giants and the upcoming launch of streamer ITVX during an onstage chat with BBC journalist Amol Rajan.
Because ITVX is a free service, the company can “monetize” it with advertising. The company’s catch-up ITV hub didn’t have enough content to make it sticky, she argued. The way we engage with customers will change as the company may collect data. “We’ll be very subtle” about it, but it will have a chance to improve messaging and marketing to viewers.
SVOD will remain at around 10% of total ITV revenues, while overall digital revenues will increase, McCall said. ITV Studios accounts for around 50% and will be able to grow beyond that share and in terms of overall revenue, she said.
ITV will launch ITVX in November as a free, ad-supported streaming service to attract more viewers for its content, Kevin Lygo, managing director, media and entertainment at ITV, told the Edinburgh TV Festival in August. It will feature all of ITV’s programming as well as content acquisitions, including US and movies, he said. New exclusive lineup event will drop on streamer regularly, starting with spy drama A spy among friendswith Damian Lewis and Guy Pearce.
Lygo also credited the “extraordinary success” of his fellow reality TV series the island of love as key driver behind ITV’s decision to reboot the reality hit Big brother.
In late July, ITV said it was “aware” of the macro clouds and was watching them closely, but management said at the time that the company had so far seen no impact on its advertising activities.
ITV has also not seen a Netflix-like slowdown in streaming subscriber momentum on its BritBox service or a slowdown in production work commissioned by the streaming giant, CEO McCall pointed out at the time. “That’s not to say we’re not aware of what’s happening in the subscription market,” including Netflix’s consecutive quarters of subscriber losses, she said at the time. “But that’s not a concern for us, I think just because BritBox is a very different type of product. … It’s very niche, the content doesn’t appear anywhere else.