ITV executive chairman Michael Grade claims the “wholesale changes and revamping” needed at ITV are “impossible” under contract rights renewal (CRR).
Speaking at the Incorporated Society of British Advertisers (ISBA) annual conference in London today (Thursday), Grade says the punitive measures that the mechanism imposes will be damning for television as a medium, for advertisers and for commercial channels.
He wants CRR to be replaced by an alternative measure that protects advertisers from the over-dominance of a broadcaster. However, when pressed, he had no answer as to what the model would be, saying consultation with the likes of ISBA would be the best way to find a solution.
Grade says CRR is “not the answer” and threatens to accelerate the commoditisation of TV ad sales and of programming itself. He adds: “We have an environment which is hostile to creativity at precisely the same time when we need to be more creative. It [CRR] has had serious and unforeseen consequences. If we don’t address this, all of us will miss out.”
Grade took the stage after John Clare, chief executive GSG International and ISBA president, who gave a damning forecast of traditional media.