Coronation Street‘s iconic arches are the perfect place for a brand to advertise, with Hays Travel having previously occupied the now vacant billboard spot. However, ITV has been promoting the space on its website since March, with no takers so far.
It comes after a budget issue at ITV which led to Richard Madeley reportedly almost losing his job, before transferring into a part-time contract with fewer hours, and Lorraine Kelly being invited to retire. The latter reportedly refused the retirement offer and opted to stay at the channel until her contract runs out at the end of 2026 – but she too will be affected by brutal cuts. Coronation Street will welcome a buyer in the proposed £1 million deal to fill the empty billboard on the cobbles after reportedly facing cashflow problems.
An ITV spokesperson told the Express: “Coronation Street has enjoyed a successful partnership with Hays Travel and we’re excited to welcome a new brand to the storefront in the UK’s biggest product placement partnership soon.”
A TV source has elaborated on the “eye-watering sum” ITV will expect from the new brand, telling The Sun: “Perhaps the fact that Coronation Street’s viewing figures weren’t quite what they were would suggest that this isn’t exactly a bargain price.
“A seven-figure sum is eye-watering considering the shop itself may only end up in a limited number of scenes and shots, and the fact that it doesn’t seem to have been snapped up suggests there aren’t many takers.”
That’s in spite of the advert boasting: “Your brand could be the next ‘grand store opening’ on the nation’s most famous street, Coronation Street. This is a unique product placement opportunity, with proven success.
“Seamlessly integrating your brand and elevating your share of voice, trust and fame — without direct retail competition.”
Coronation Street has retained its status as ITV’s most-watched show, but last Friday’s episode pulled in just 3.3 million viewers, in contrast to the previous most-watched episode, which had an audience of 27 million.
There has been a cull of characters lately with Luca Toolan (Mason Radcliffe), Sue Cleaver (Eileen Grimshaw), Colson Smith (Craig Tinker), Charlotte Jordan (Daisy Midgeley) and Shelley King (Yasmeen Nazir) all either leaving in 2025 or having left already.
Bosses have dramatically reduced some daytime show schedules, including the Lorraine show and Loose Women, with only the likes of This Morning surviving unscathed.
Over 200 jobs are said to have been axed by ITV as part of the latest wave of cost-cutting measures, as the channel seeks to save an estimated £50 million.