ITV Sees 2022 Revenue Gains


Total group revenues at ITV rose by 7 percent in 2022 to £4.3 billion ($5.2 billion), driven by gains at ITV Studios.

“2022 was a year of significant strategic progress and ITV delivered a robust set of financial results,” said Carolyn McCall, chief executive. “The successful execution and delivery of ITVX in Q4 was a major digital milestone. The platform has received a very positive reception from viewers and advertisers alike, with its newly expanded range of original content and a superior user experience engaging more viewers, and lighter viewers, and encouraging them to spend more time with ITV. The user experience and personalization elements will continue to improve throughout 2023.

“Our total external revenue growth of 8 percent was driven by double-digit increases from our growth drivers, ITV Studios and our digital businesses in M&E. Our mass reach linear advertising business has also performed well and ITV total advertising revenue (TAR) was down only 1 percent, delivering the second highest TAR in ITV’s history.

“As a result of ITV’s deliberate strategic actions and strong execution, ITV has a scaled and expanding global production business, a rapidly growing targeted digital advertising business, a resilient linear TV advertising business and a unique vertically integrated producer broadcaster and streamer model. This means that ITV is now a demonstrably more balanced business which is ideally placed to take advantage of the growing demand for quality content from viewers, broadcasters and streamers and take a larger share of the digital advertising market.

“We enter 2023 with strong momentum and are on track to deliver all our 2026 KPI targets despite a continuing uncertain macro environment. ITV’s balance sheet is robust enabling us to continue to invest to support our strategy and deliver returns to shareholders.”

External revenues were up 8 percent to £3.7 billion ($4.4 billion), with ITV Studios revenues climbing 19 percent to £2.1 billion ($2.5 billion), with the segment now reporting that 22 percent of revenues come from streaming platforms, up from 13 percent. ITV Studios aims to make 25 percent to 30 percent of its revenues from the streamers by 2026 and is targeting 5 percent average revenue growth per year till then. Media and entertainment (M&E) revenues slipped by 1 percent to £2.2 billion ($2.7 billion) with a 1 percent fall in ad revenues. The segment saw its digital revenues rise by 18 percent. Adjusted profit before tax was down 13 percent.