Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

ITV cancels 2020 Love Island due to COVID-19 in blow for ad revenues

Published 05/04/2020, 07:55 AM
Updated 05/04/2020, 08:00 AM
© Reuters.

LONDON (Reuters) - Britain's ITV (LON:ITV) said its popular dating show Love Island would be cancelled this year because of the coronavirus pandemic and there would not be a new series until 2021, in a big setback for the broadcaster's advertising revenues.

ITV said in a statement on Monday that the novel coronavirus outbreak meant it would not be possible to make the seventh season of Love Island in a safe way this year.

Love Island's popularity has boosted ITV's advertising revenues in recent years.

Last summer the reality show set in a villa in Mallorca, Spain, was watched by 6 million fans every night on TVs, tablets and smart phones, helping the company beat financial forecasts through extra sponsorship deals.

But travel restrictions and concerns over social distancing mean that viewers will this year be denied their dose of watching good-looking twenty-somethings enjoying the sun while looking for romance and fame.

"We are very sorry for fans of the show but making it safely is our prime concern and Love Island will be back stronger than ever in 2021," ITV's director of television Kevin Lygo said.

ITV is due to publish a trading update on Wednesday. Its shares were down 5% in midday trading.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.