ITV Is ‘Missing Tremendous Commercial Opportunities’ On The Net, Says Merrill Lynch

According to a new report by media analysts and brokers Merrill Lynch, ITV is currently missing out on a ‘tremendous’ commercial opportunity by failing to market its presence on the internet.

Unlike the BBC, ITV has so far not promoted the ITV.com brand or launched another national portal site. This is because the companies which own ITV are more interested in plugging their own individual websites, according to the report, Broadband Interactive Services: The Next Wave. Merrill Lynch is impressed by the BBC’s work with the internet which has earned BBC Online the accolade of most-used content website in Europe.

The report says that the BBC has ‘cunningly differentiated’ its commercial site, by using the name beeb.com and has been quick to cross promote its network of sites by running internet awareness programmes across television and radio. ITV, however, is currently lagging behind its non-commercial counter-part: “ITV has a clear opportunity to create a powerful and valuable internet business, but we believe its ownership structure may hinder its ability to do so,” says Merrill Lynch.

The report also shows that internet advertising in the UK grew to £18 million last year and is expected to be double that this year. By 2002 UK internet advertising revenue should reach £470 million (4% of UK adspend), according to Fletcher Research.

Merrill Lynch: 0171 628 1000