MAGnet #40 04/03/22

Magnet #40

Welcome to the 40th Edition of Magnet! Grab a cuppa and enjoy.             

Client news: Sykes & Saturday night takeaway

Our client Sykes Cottages had a busy week last week! They were  featured on Win the Ads on Ant and Dec’s Saturday Night Takeaway, staple Saturday night TV,  and on This Morning  's Spin to Win throughout last week! You can see what was on offer in the video below:

ITV:

ITV is planning  to double its digital revenues to at least £750m – doubling its level of streaming viewing – by 2026, it  announced.Budgets for digital-first content creation are being ramped up and will reach £160m by 2023.

Total revenue at ITV was up by 24% during 2021 to £3.45bn. Total advertising revenue was also up by 24% – the highest increase in ITV’s history – with video on demand advertising (AVOD) up 41%.

Yesterday, ITV unveiled the next phase of it’s  digital strategy: launching  a streaming service called ITVX that will air shows months before they arrive on linear, while posting impressive revenue and profit growth and record advertising spend. It’s aiming at 15,000 hours of content.

It will launch with both an AVoD and SVoD option,  with dramas including Damian Lewis’s A Spy Among Friends, Helena Bonham Carter-starring Nolly and Lenny Henry’s The Little Birds.

Ikea opens £170m shopping centre in London

As we know, even though there’s recorded to have been less footfall in shops throughout the last year, there have indeed been quality spenders, spending more on the high street. With this in mind, Ikea is finally opening the doors of Livat in London’s Hammersmith- which is the company’s first city centre shopping mall worldwide.

The retail giant invested £170m in renovating Hammersmith’s former Kings Mall over the past two years to create Livat. It’s the first shopping centre parent company Ingka Holding has refurbished rather than built from scratch.

According to the Guardian, there will be a small market hall for local food pop-ups, alongside Ikea’s Swedish deli and two more cafes selling meatballs, open sandwiches and coffees.