ITV shares fall as broadcasters are warned not to underestimate Netflix

The market underappreciates the pace of the decline in TV consumption, say analystsShares in ITV fell by nearly 6% on Thursday after investors took fright at a report warning that the market is underestimating the decline of traditional TV viewing and the disruptive impact of of services such as Netflix and YouTube.ITV was the biggest faller in the FTSE 100 by late afternoon trading – down 5.9% at 129p – following a bleak assessment of the prospects of traditional TV broadcasters by