ITV CEO Says Advertising Is in Worst Recession Since 2008 Crash

ITV Plc Chief Executive Officer Carolyn McCall said the first half of 2023 is “the worst advertising recession that we’ve seen since the global financial crisis,” during a call with reporters on Thursday.

Britain’s biggest free-to-air broadcaster earlier said its total ad revenue fell 11% to £811 million ($1.05 billion) in the first half of the fiscal year, driven by a drop in linear television advertising. That was in line with the average estimate of analysts surveyed by Bloomberg.