ITV: Willoughby exit could cost broadcaster £20m
ITV could lose out on £20m or more as advertisers potentially cut their spending following top presenter Holly Willoughby’s shock departure on Tuesday, according to one estimation.
The broadcaster’s shares dipped around 1.4 per cent on Wednesday after Holly Willoughby revealed she is leaving This Morning after 14 years presenting the show.
A spokesperson for data provider Altindex said: “Holly Willoughby’s This Morning exit has already hit ITV in the pocket with possibly further loss in revenue still to come should sponsors and advertisers reduce their spend now the broadcaster’s star presenter is no longer the face of their flagship daytime show.
“ITV’s share price decreased 0.61 per cent overnight and that’s estimated to have hit the company’s value by at least £20m to add to the turmoil of having to replace a top star.”
In an Instagram post on Tuesday, Willoughby wrote: “I have let ITV know today that after 14 years, I will not be returning to This Morning.”
The 42-year-old British television personality added it was an “honour to just be part of its story”, but that she feels “I have to make this decision for me and my family.”
“There’s no dressing it up,” said Paolo Pescatore, technology and media analyst at PP Foresight. “She’ll be a huge loss for the show given the way she connects with viewers.”
But he reckons ITV will remain unaffected by her exit in the long term.
“Ultimately the show will go on and any blip is to be expected. Significantly, she remains part of ITV which is paramount and will represent with other growth opportunities in the future,” he explained.
The surprise resignation comes just days after a man was arrested and charged over an alleged plot to kidnap and murder Willoughby, who held a £730,000 contract to present This Morning.
It is a turbulent time for the broadcaster, which suffered the loss of its other star presenter, Phillip Schofield, earlier this year after he was discovered to have had an affair with a much younger male runner.