ITV: A painful verdict
Who remembers the Six Nations?
It feels like a lifetime ago, but the rugby tournament was in full swing in the middle of March when the coronavirus pandemic took hold in Europe. Italy’s decision to postpone its match with Ireland was, for many, the first sign that things were more serious than they had realised.
The Six Nations 2020 hasn’t yet been completed.
Sporting events around the world have been put on hold because of coronavirus. Even Wimbledon and The Olympics – highlights of the 2020 summer calendar – are not going to be happening. That’s tough on the fans and participants, but crushing for the sponsors and broadcasters. Within the last 24 hours, ITV (LON: ITV) and Walt Disney (US: DIS) have both laid bare the pain of no sporting events. Disney’s ESPN sports channel has suffered a sharp decline in advertising, leaving revenue at its cable networks (the single largest contributor to revenue) flat in the three months to March. ITV has said…