Naman Ramachandran U.K. broadcaster ITV’s 2020 half-year earnings have expectedly declined due to the effects of the ongoing coronavirus pandemic.Total broadcast revenue in the last six months has declined 17% to £824 million ($1.08 billion) from 2019’s $1.3 billion.
Similarly, there was a 17% decline in total ITV Studios revenues to £630 million ($830 million) from £758 million ($999 million).
Advertising revenue was down 43% in the second quarter and overall by 21% in the six months till the end of June. Total external revenue also fell 17% £1.21 billion ($1.6 billion).
Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) fell a steep 50% to £165 million ($217 million).
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