The U.K. TV giant, which is led by CEO Carolyn McCall and recently said that advertising trends have 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 amid the new coronavirus.
ITV late last month told marketers that it was relaxing its stance on fees that it usually charges for late bookings, effectively waiving them. Amid the virus crisis it also said that new linear channel and VOD ads ordered for March and April would benefit from a 23 percent discount.
It also said it would relax charges for amendments to campaign dates and lengths, with ad spot deferments directly linked to the coronavirus 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 British TV giant had also axed late booking fees in the summer of 2019 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 pandemic, which it said has had an "increasing" impact on its advertising trends.
