ITV Offers Discounts for Ad Bookings Amid Coronavirus Crisis

ITV CEO Carolyn McCall

ITV CEO Carolyn McCall

The U.K. TV giant, which recently said that advertising demand has deteriorated amid the pandemic, is offering incentives for late ad bookings.

U.K. TV giant ITV has offered marketers discounts and other incentives if they make advertising bookings amid the coronavirus pandemic, according to sources. 

The company, led by CEO Carolyn McCall, recently said that advertising demand has deteriorated given the ongoing global crisis.

ITV late last month told marketers that it was relaxing its stance on fees that it usually charges for late bookings, effectively waiving them. It also said that new linear channel and VOD ads ordered for March and April would benefit from a 23 percent discount.

ITV also said it would relax charges for amendments to campaign dates and lengths, with ad spot deferments directly linked to the pandemic that are prepaid and recommitted within the calendar year also not drawing extra charges.

Campaign first reported that ITV has pitched its ad incentives as providing brands £1.30 ($1.61) worth of advertising value for every £1 ($1.24) spent.

The company had also axed late booking fees last summer amid ad market challenges caused by such factors as Brexit uncertainty.

ITV recently said that its April ad revenue momentum had been further affected by the coronavirus pandemic. The company also said it would pull its dividend and make other cost savings, including in program spending, amid the crisis, which it said has had an "increasing" impact on its advertising trends.