ITV CEO Carolyn McCall Raises Cost Of Living Concerns As British Broadcasting Bosses Come Together To Talk PSB

deadline.com:

ITV boss Carolyn McCall has raised concerns that the British cost of living crisis could start hampering broadcaster revenues at a time when they are emerging from the pandemic, while BBC Director General Tim Davie warned against “complacency” over changing audience habits.ITV’s main source of income is advertising but this income is “heavily tied to the economy,” according to McCall, who said a “gloomy” period could impact the network’s revenues.She was speaking at the Deloitte and Enders Media and Telecoms Conference a day after ITV unveiled strong Q1 results and several weeks after it posted record ad revenues for full year 2021.The UK is currently in the midst of a major cost of living crisis, with energy and gas bills soaring and serious concerns being raised by businesses over the knock-on effect this will have on the economy.Although raising the cost-of-living concerns, she countered that “people have realized the value of TV advertising [post lockdown] and how you can get an emotional message across.”And while ITV’s share price has been declining, she said this “in no way reflects our performance” following the strong set of recent results, pointing to external issues such as the war in Ukraine.McCall was speaking on a panel of PSB bosses featuring BBC DG Tim Davie, Channel 4 CEO Alex Mahon, Channel 5-owner Paramount UK boss Maria Kyriacou and STV CEO Simon Pitts.All argued passionately for the strength of PSB in the future and in the face of multiple threats.Mahon, whose broadcaster is to be sold by the UK government, said the UK is “way above other countries in its provision of PSB,” pointing to “dreadful” public service offerings in nations like the U.S.