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ITV rakes in millions from Love Island ad space bidding war

ITV PLC (LON:ITV) has raked in over £12mln in revenues from the new series of Love Island before the first episode even airs as advertisers piled in to grab ad space ahead of the premier on Monday.

According to a Guardian report, the FTSE 100 broadcaster has already signed up nine official partners for Love Island, the most out of any of its shows, adding that sponsorship packs for the series have already sold out.

READ: Junk food ad ban could hit ITV and other broadcasters hard

Brands that have attached themselves to the latest series of the show include JD Sports Fashion PLC (LON:JD.), pharmacy chain Boots and dating app Tinder.

Companies clamour for ad space around the show comes as ITV predicts that the 18-month gap between this series and the previous one caused by the pandemic has caused pent-up demand among its main audience, the much sought-after demographic of 18-34 year olds.

The news of the demand also seems to have perked up investors, with ITV’s shares rising 0.8% to 128p in late afternoon trading on Friday.

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