ITV Q1 Digital Revenue Up $30M Up But Overall Turnover Dips $73M
deadline.comITV’s digital business is starting to build. The UK network’s revenue from the segment was up £24M ($30.2M) to £106M in the first quarter of 2022 on a year-on-year comparison, a 49% uptick.
Streaming hours were also up 128 million following the move to switch its main digital service from ITV Hub to ITVX, which has launched a slate of original such as Nolly and A Spy Among Friends.
However, the Love Island and Malpractice broadcaster saw its overall revenues dip 7% from £834M a year ago to £776M this quarter.
Within that, Media and Entertainment was down £50M to £495M and ITV Studios was basically flat at £457M. The M&E division houses the ITV network, which remains reliant on the volatile TV ad market, while ITV Studios key deliveries for the quarter included Nolly, Django for Sky, Big Beasts for AppleTV+ and Queer Eye for Netflix.
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