ITV has concluded an investment in Nineteen21 Limited, which trades as ismybillfair.com, as its growing media-for-equity portfolio grows to three businesses.
ITV is acquiring a minority stake valued at £1.25m in return for advertising inventory across ITV’s channels and the ITV Hub, with an option to invest a further £1.25m.
Ismybillfair.com offers an online service that saves UK households time and money, by getting a fairer price for household bills from their current supplier, rather than having to go through the hassle of switching. The service is currently live for energy bills, with expansion plans into broadband.
Niko Waesche, Fund Manager of ITV AdVentures Invest, said: “ismybillfair.com was launched by seasoned industry experts who understand the needs of both the energy providers as well as UK households so we liked this win-win proposition as soon as we heard about it.
“It’s an extremely useful service for British consumers and we’re looking forward to bringing it to a mass audience, and helping ismybillfair.com to grow, through ITV’s unique reach.”
ITV AdVentures Invest is a media-for-equity programme which sees ITV take minority stakes in early stage digital and direct-to-consumer businesses, alongside venture capital investment, in return for advertising inventory across ITV’s range of market-leading channels and the ITV Hub.
The programme announced similar deals earlier this year with Respoke, the company behind the premium custom-fit menswear brand SPOKE, and what3words, the Cannes Lions Grand Prix-winning location service that has divided the world into a grid of three-metre squares.
The initiative is meant to serve as an innovative opportunity for early-stage businesses that are seeking to build scale through TV advertising and can benefit from ITV as a strategic media partner.
In the company’s latest available financial accounts, Nineteen21 Limited reported gross assets of £500,000 and a net loss was £400,000 for the year ending 29 February 2020. The investment will not be consolidated and will be held at its fair value on ITV’s balance sheet.
Ismybillfair.com CEO and Co-Founder Alex Perrin added: “Our aim is to become the leading household brand for saving without switching. ITV reaches more households than any other commercial TV group in the UK and, combined with its near-perfect match with ismybillfair’s audience, we’ve found our ideal partner to fuel our growth.”
