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25 July 2018

Love Island helps attract ITV profit rise

Dating reality show Love Island has helped ITV boost first-half revenue by 8% to £1.59bn, according to results released today.

The broadcaster announced profits rose from £259m to £265m, while broadcast and online revenues rose 3% to £1.05bn in the six months to 30th June 2018.

ITV added that Love Island, which is broadcast on ITV2, had reached the second-highest audience ever recorded on a digital channel.

Roy Kaitcer, Investment Manager, Redmayne Bentley, said: “ITV remains an attractive advertising and content play in the media sector, with series such as Love Island helping with viewing figures during the period. If you bear in mind the recent bidding war for Sky between Comcast and 21st Century Fox, it is possible that ITV’s content could also create similar interest in the future.”

Chief executive Carolyn McCall announced a £60m programme of investment across the business over the next three years, including £40m over the next year. The organisation is also hoping to launch a new TV streaming service to rival the likes of Netflix and Amazon.

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Love Island helps attract ITV profit rise
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