Launch of ITV's BritBox remains a light at the end of the tunnel

Shares hit a near 5 year low but the hope is for the new streaming service to bring in much needed growth.

Article updated: 8 May 2019 9:00am Author: Graham Spooner

  • Shares fall by 2% in early trading, edging closer to a five year low
  • We continue to recommend the shares as a ‘hold’ in the hope that negativity has already been priced in by the markets
  • Despite economic and political turbulence, online revenue expected to deliver double digit growth in 2019

This morning’s trading updates confirmed that revenue fell by 4% over the first quarter to £743 million and advertising revenue is now expected to be down by 6% over the first half. Economic and political uncertainty continues to impact yet, despite this, online revenue is still expected to deliver double digit growth over the year.

Long suffering investors will be relieved to hear the proposed steaming service BritBox remains on track for launch in the second half and the investment and cost saving programmes are also on track. Shares are down by 2% and close to a 5- year low and while there had been signs from sector peers that advertising rates had not been as bad as feared, this has not followed through to ITV.

Our View on ITV - Hold

We continue to recommend the shares as a ‘hold’ in the hope that negativity has already been priced in by the markets.
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Graham Spooner

Investment Research Analyst

Graham started out as a fully authorised dealer on the Stock Exchange trading floor and for various banks, before becoming an FCA-approved investment adviser. Now a respected voice in the media, Graham’s share tips and comments on the markets are frequently sought by the national press.