ITV Half-Year Earnings Tumble 52% But ITV Studios & Digital Keep Revenues Steady At $2.1B
deadline.comHalf-year earnings at UK’s largest commercial network, ITV, fell more than 50%, its latest interim financials show. Group adjusted EBITA was down 52% at £152M ($197M) for the six months to June 30 — a result the broadcaster expected as the global advertising market continues to suffer.
Last year the figure was £318M. Earnings per share were down 62%. Revenues at ITV’s Media & Entertainment segment was down 9% at £964M but strong performances from production and sales wing ITV Studios (£1B) and the digital division (£218M), which houses streamer ITVX, meant total external revenues came in at £1.64B, down just 2% on the same six months in 2022.
ITV Studios already has 89% of committed revenues for the full year, in line with last year, with new and returnable programs lined up.
ITV said ITVX, which replaced ITV Hub in November last year, was “attracting increased users, who are watching more and staying for longer” compared with its predecessor.
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