TV has suffered its highest-profile management departure since its multi-billion pound merger with the resignation of marketing and commercial director, Jim Hytner, to join Barclays bank.
Hytner, credited with rebranding ITV in the run up to the £5.6 billion merger of Carlton and Granada, is stepping down to take up one of country’s largest marketing roles at Barclays, where he will control a budget of more than £300 million.
His departure comes as ITV prepares a detailed defence of its advertising and marketing strategy to City investment analysts, who are concerned that the broadcaster’s business model is under threat from the increasing popularity of multi-channel television.
Reports suggest that ITV could face a deficit of around £100 million in revenue as growing numbers of big brand advertisers seek to negotiate more competitive deals following the broadcaster’s recent decline in audience share (see ITV Could Face Ad Revenue Shortfall).
Hytner has been at ITV for the last three years during which time he oversaw the development of the branding strategy that has helped the network maintain its dominant presence. Last year the broadcaster had net advertising revenues of more than £1.6 billion, accounting for more than 50% of the total market for airtime sales.
Prior to joining the UK’s largest commercial broadcaster, Hytner spent two years as director of marketing and new business at the fledgling Channel 5. He also had a stint as marketing director at Rupert Murdoch’s BSkyB and Coca-Cola UK.
Hytner is expected to maintain strong links with ITV after making the move to Barclays, which is one of the network’s largest advertisers. Bird & Co, the executive search firm, has been appointed to find his successor.
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