ITV.L - ITV plc
| Previous Close | 114.65 |
| Open | 116.00 |
| Bid | 0.00 x 0 |
| Ask | 136.00 x 0 |
| Day's Range | 114.90 - 121.00 |
| 52 Week Range | 102.65 - 166.70 |
| Volume | 14,106,607 |
| Avg. Volume | 13,567,751 |
| Market Cap | 4.625B |
| Beta (3Y Monthly) | 1.38 |
| PE Ratio (TTM) | 10.35 |
| EPS (TTM) | 11.10 |
| Earnings Date | Jul 22, 2019 - Jul 29, 2019 |
| Forward Dividend & Yield | 0.08 (6.98%) |
| Ex-Dividend Date | 2019-10-24 |
| 1y Target Est | 177.50 |
- Bloomberg
ITV CEO Says Brexit Uncertainty Weighing on TV Ad Market
Jul.24 -- Carolyn McCall, chief executive officer of ITV Plc, Britain’s biggest free-to-air commercial broadcaster, talks about the company's financial results, outlook and strategy. She speaks on "Bloomberg Daybreak: Europe."
- Financial Times
Boris Johnson admits quick US trade deal will be a challenge
Boris Johnson on Sunday played down expectations of concluding a quick UK-US trade deal after his first meeting as British prime minister with Donald Trump, saying any agreement would require America to make compromises. Although Mr Johnson said he would “love” to agree a deal “within a year”, he acknowledged there would be significant challenges to overcome if an agreement was going to be finalised rapidly after Britain leaves the EU. “I don’t think people realise quite how protectionist sometimes the US market can be, Mr Johnson told ITV after he held a breakfast meeting with Mr Trump at the G7 summit in Biarritz.
- Financial Times
UK will refuse to pay £39bn divorce bill in no-deal Brexit
Boris Johnson insisted on Sunday the UK would not pay the £39bn divorce bill in full in the event of a no-deal Brexit on October 31, as EU officials said it was “squarely and firmly” up to Britain to find a solution to the vexed issue of the Irish border. At the G7 summit in Biarritz, the UK prime minister held a cordial meeting with Donald Tusk, president of the European Council, albeit with no sign of a breakthrough on a revised Brexit deal. Mr Johnson said the chances of a deal were “improving”, but it was “touch and go” whether one could be struck.
- Simply Wall St.
Is ITV plc (LON:ITV) Potentially Underrated?
ITV plc (LON:ITV) is a company with exceptional fundamental characteristics. Upon building up an investment case for a...
- Thomson Reuters StreetEvents
Edited Transcript of ITV.L earnings conference call or presentation 24-Jul-19 8:30am GMT
Half Year 2019 ITV PLC Earnings Presentation
- Bloomberg
`Bodyguard' Can't Save European TV from Netflix
(Bloomberg Opinion) -- In Europe, people are used to watching their TV for free. Or sort of. In much of the region – France, Germany, the U.K. – there’s a license fee: anyone with a TV set has to pay an annual fee of $100 to $200 for the privilege. The levies help to fund public-service broadcasters like the BBC and ARD.The problem is that broadcasters are hemorrhaging viewers to streaming platforms like Netflix Inc. or Amazon.com Inc.’s Prime video service. And for TV stations whose biggest revenue stream is advertising, fewer viewers mean fewer ad dollars, compounding the flight to digital ad platforms like Facebook Inc. and Google.In response, broadcasters want to create their own Netflix rivals to buttress themselves against the tech firms’ incursions. The streaming video giants’ advantage is their scale: They can justify the investment in major new productions because they can reach large global audiences. That, in theory, helps them charge higher prices, since they have better content and more of it.That’s harder when you’re a local European player, which is why commercial and public-funded broadcasters are trying to join forces. But they’re also butting up against regulators who are wary of giving too much power to one organization, or of consumers losing access to content for which they’ve theoretically already paid through a licence fee.On Friday, it was the U.K.’s turn. ITV Plc, the maker of the Golden Globe-nominated series Bodyguard, and the publicly owned British Broadcasting Corp. announced they were teaming up to offer Britbox in their home market. (A version of it already has 500,000 subscribers in the U.S.)It’s easy to find the problems with the service. For 5.99 pounds ($7.50) a month, customers will get a handful of new shows as well as access to both broadcasters’ back catalogs. For ITV, that means programs that have been on its existing video-on-demand platform for at least a month, and, for the BBC, a year. This could be a tough sell to domestic viewers who will have already had the chance to view them for free. That the regulator, Ofcom, was so quick to approve the arrangement suggests that the two have hardly created a new titan.In the circumstances, ITV Chief Executive Officer Carolyn McCall deserves some credit for getting the project across the line at all. It was an uphill struggle to get this far, with the BBC reportedly reluctant to share its treasure trove of content. It should now become easier to find further broadcast and distribution partners: Viacom Inc.’s Channel 5 or BT Group Plc are obvious potential candidates.French broadcasters are having similar issues. France Televisions, M6-Metropole Television SA and Television Francaise 1’s joint offering, Salto, has been struggling to secure regulatory clearance. It’s had to make 20 undertakings, including that it will get no more than 40% of content under exclusivity from its parent firms, according to a report this week in newspaper Les Echos.The European players may be following the lead of their American peers in steadily pulling more shows from Netflix in order to run them on their own rival platforms. But to reach the scale they need in order to compete, they are also encountering regulatory difficulties that the likes of Comcast Corp., AT&T Inc.’s WarnerMedia and Walt Disney Co. don’t face.Life is going to get tougher for Netflix and Amazon in Europe, for sure. But as long as the publicly-funded titans zealously guard their content and regulators remain reluctant to bless closer alliances, the region’s traditional commercial broadcasters are going to find it far harder to beef up and steal subscribers than their counterparts in the U.S.To contact the author of this story: Alex Webb at awebb25@bloomberg.netTo contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- Bloomberg
Netflix’s Tight-Lipped Culture Makes Surprises Hard to Avoid
(Bloomberg) -- Netflix Inc.’s biggest earnings surprise in years sent the shares plummeting the day after results were released, leaving analysts and investors wondering why they were caught so off guard.When some companies know that their quarterly results are going to fall short of forecasts, they put out a pre-announcement or update their guidance. But not Netflix.Instead, the company dropped a bombshell with no warning: Its customer growth was roughly half what it projected, and Netflix actually lost U.S. subscribers during the period. That hasn’t happened since 2011, when the company made a disastrous attempt to split up its streaming and DVD-by-mail operations.The fallout on Thursday included the worst stock rout in three years, with the stock declining 10% to erase more than $16 billion in market value. Shares in Netflix extended those declines on Friday, falling 3.1% to $315.10 per share, their lowest since January. The stock has fallen for seven consecutive sessions, the longest losing streak in nearly four years.“You would think Netflix would want to update guidance or give a pre-annoucement, as I’m sure they definitely knew about this for a while,” said Nick Licouris, an investment adviser at Gerber Kawasaki. “But they probably didn’t want to do it because they were going to take a hit at that time or during earnings -- especially since subscriber numbers are the No. 1 thing analysts look at -- and in earnings you can spin it better than a stand-alone announcement.”Not Necessary?Another reason not to issue a warning: The company met most of Wall Street’s financial estimates, such as sales and profit. It was only the subscriber numbers that really came up short.“Revenue was very close to guidance and profits were actually above, so I’d guess they didn’t think it was necessary to pre-announce a weak sub number when other financial metrics were fine,” said Andy Hargreaves, an analyst at KeyBanc Capital Markets Inc.There’s also been a broader shift away from giving earnings warnings, said Huber Research Partners founder Craig Huber.“I have noticed companies in media and internet that I follow do not seem to pre-announce pending negative results with the same regularity as years ago,” he said.Netflix, based in Los Gatos, California, didn’t have an immediate comment.The streaming giant’s tight-lipped culture extends beyond earnings. Unlike traditional media companies, it’s very selective about the viewer information it provides. Third parties try to fill the gaps by providing their own data on Netflix’s audience, but that can prove to be unreliable.Third-Party ServicesThose kinds of data services failed to predict the latest shortfall, Wolfe Research analyst Marci Ryvicker said in a note.“For several days,” she said, “investors told us ‘such-and-such data service suggests domestic adds will come in line; while international might be somewhat soft.’ Wrong. I mean -- right in the sense that international was soft but totally wrong on the domestic subs part.”Netflix remains the dominant paid video streaming service, with its sights set on international expansion to counter slowing growth at home. But rising competition abroad -- such as a U.K. streaming venture announced Friday between ITV Plc and the BBC -- could challenge that growth as well.Netflix also delivers its earnings in an idiosyncratic way. Instead of doing a traditional Q&A conference call, the company releases an “earnings interview” on YouTube with a single analyst. It also issues its reports on its website, not through the paid services that many companies use to disseminate information.Though this week’s stock rout was especially severe, it’s common for Netflix’s earnings to spark a huge share move. The average change on the day after quarterly reports is almost 13%, according to data compiled by Bloomberg. Compare that with Apple Inc., where it’s 4.4%. Or Microsoft Corp., where it’s 4.1%.There’s another explanation for the huge swings in Netflix’s stock: overreaction. That was the message from Chief Executive Officer Reed Hastings this week. It’s easy to “overinterpret” subscriber figures, he said.“Sometimes we are forecast high, sometimes we forecast low,” he said. “We’re just executing forward and trying to do the best forecast we can.”(Closes shares in fourth paragraph.)\--With assistance from Morwenna Coniam.To contact the reporters on this story: Kamaron Leach in New York at kleach6@bloomberg.net;Lucas Shaw in Los Angeles at lshaw31@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Simply Wall St.
ITV plc (LON:ITV): Earnings Growth Remains Elusive
Since ITV plc (LON:ITV) released its earnings in December 2018, the consensus outlook from analysts appear...
- Bloomberg
Britain’s ‘Love Island’ Tests America’s Appetite for Daily Reality TV
(Bloomberg) -- The U.S. edition of British reality show “Love Island” begins on Tuesday night, testing American appetites for daily, hour-long doses of sun-drenched tropical romance.Millions of British viewers sit down six nights a week to watch the show’s toned and tanned millennials flirt, bicker, confront challenges and couple up under constant video surveillance to win the audience’s affection and avoid being ejected from paradise.The latest U.K. season is the most-watched show ever on producer ITV Plc’s second channel and the franchise has had similar success in continental Europe and Australia, turning participants into celebrities.ITV is also bringing the format to Belgium, the Netherlands, Poland, Hungary and New Zealand. CBS Corp. will air Love Island USA, set on the Pacific island of Fiji, for five nights a week until Aug. 7.Success in the world’s biggest TV market is not assured. The birthplace of “Keeping Up with the Kardashians” is loaded with reality shows, from “Big Brother” that runs three nights a week on CBS to “America’s Got Talent” on Comcast Corp.’s NBC. One of “Love Island”’s closest U.S. equivalents -- “Bachelor in Paradise” from Walt Disney Co.’s ABC -- got enough viewers for two episodes a week last season.Love Island’s U.S. producers have smoothed the brasher edges of the U.K. version to secure a prime-time 8 p.m. slot, so the contestants’ swimwear may be less revealing and bleeps will obscure any foul language. Some quirks of the British format remain, including the ironic off-camera commentary that may be less familiar to U.S. reality-TV viewers.CBS is mobilizing its marketing firepower to make the show a success and boost its share with younger audiences."If social media is any indication, we are on the right path and look forward to having the audience find us and grow," David George, chief executive officer of ITV’s U.S. production arm, wrote in an email.ITV, Britain’s biggest free-to-air commercial broadcaster, has been squeezing the franchise for all it’s worth as the company’s advertising-funded channels come under attack from Netflix Inc.“Love Island” has tripled its international production hours since the beginning of 2018. ITV has even licensed a Love Island mobile game and sold opportunities to meet and greet the contestants.“A single show in a single market isn’t really going to move the needle that much,” Bloomberg Intelligence analyst Matthew Bloxham said. “But the wider success of Love Island as a franchise is more noticeable.”\--With assistance from Joe Mayes.To contact the reporter on this story: Greg Ritchie in London at gritchie10@bloomberg.netTo contact the editors responsible for this story: Rebecca Penty at rpenty@bloomberg.net, ;Tom Contiliano at tcontiliano@bloomberg.net, Thomas Pfeiffer, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Simply Wall St.
Is ITV plc (LON:ITV) A Good Dividend Stock?
Today we'll take a closer look at ITV plc (LON:ITV) from a dividend investor's perspective. Owning a strong business...
