Sharewatch: ITV Falls Despite Renewed Advertiser Focus
ITV saw its share price flounder yesterday, losing 0.93% to close at 106žp. The continued decline came on the day the broadcaster announced the appointment of Mark Trinder as its new head of advertiser relationships (see ITV Sales Appoints Trinder As Advertising Boss).
The decision to install Trinder is the latest in a long line of initiatives designed to introduce a more customer focused approach to ITV’s business. Head of customer relationship marketing, Justin Sampson, has already widened the focus of the agency sales team and has appointed three account directors from media and creative agency backgrounds to the advertiser relationships operation (see ITV Sales Recruits Third Agency Account Director).
Elsewhere in broadcasting, BSkyB lost 1.53% to close at 497žp. The broadcaster has announced a deal with Zip TV, allowing advertisers to run interactive campaigns across several networks without the need for additional campaign management work. The move is important as is underlines Sky’s commitment to the medium, bringing together two of the biggest players in interactive advertising (see Sky Media Zips Up Interactive Advertising Deal).
The FTSE 100 regained some lost ground yesterday, though remained in the red after dropping 5.1 points to close at 4,629.4. The FTSE 250 fared much worse, however, losing 17.2 points to close at 6,254.1.
The closing prices of media company shares on Thursday were:
