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The Guardian - UK
The Guardian - UK
Business
Joe Middleton and agencies

ITV warns it is in ‘worst ad recession since financial crisis’

Recession Studios Carolyn McCall United States ITV Studios
Mitch Cello-Brate and Ella Barnes in ITV’s Love Island
Mitch Cello-Brate and Ella Barnes in ITV’s Love Island Photograph: ITV/Shutterstock

ITV has warned it is in the midst of the worst advertising downturn since the 2008 financial crisis.

The broadcaster, which is behind hit shows including Love Island and I’m a Celebrity … Get Me Out of Here!, said earnings more than halved in the first six months of the year as it came up against a “very tough” advertising market and as it invested in its ITVX online streaming service.

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