After Pandemic Hit, Vaccine Rally and Brexit: What's in Store for ITV's Stock in 2021?
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hollywoodreporter.comAs the coronavirus pandemic hit advertising revenue across the media industry and the future relationship between the U.K. and the European Union after Brexit remained unclear until a trade deal unveiled just in time for the holidays, British TV giant ITV's stock had a particularly difficult 2021.
Due to the pandemic, the U.K.'s biggest free-to-air commercial broadcaster had to go without a summer edition of hit reality dating show Love Island and recorded a 43 percent drop in second-quarter advertising revenue, which in 2019 accounted for 53 percent of its total revenue.
The company's shares then hit a multi-year low of 50.06 pence ($0.67), down 67 percent from their year-end 2019 value of 151 pence ($2.01), and ended up getting kicked out.
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