Group external revenues for ITV plc in the first half of the year slipped by 2 percent to \u00a31.64 billion, with gains at ITV Studios helping to offset a decline in advertising revenues.<\/p>\n
For the first half, ITV Studios reported revenues of\u00a0\u00a31 billion, an 8 percent gain on the same period last year, while media and entertainment (M&E) revenues dropped by 9 percent to\u00a0\u00a3964 million. Ad revenues were down 11 percent, even as digital ad revenues grew by 24 percent. Group adjusted EBITA fell by 52 percent to\u00a0\u00a3153 million, with adjusted profit before tax down 61 percent to\u00a0\u00a3118 million.<\/p>\n
\u201cThe continued momentum behind ITV\u2019s strategic transformation delivered strong growth in studios and digital revenues in the first half of the year, largely offsetting the expected weakness in the U.K. advertising market,” said Carolyn McCall, chief executive. \u201cWe remain on track to achieve all our KPI targets, which gives us confidence we will deliver at least \u00a3750 million of digital revenue by 2026. As we said at the full-year results in March, 2023 is the year of peak net investment in our streaming business and we expect profit to grow from here.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Group external revenues for ITV plc in the first half of the year slipped by 2 percent to \u00a31.64 billion, with gains at ITV Studios helping to offset a decline in advertising revenues.<\/p>\n","protected":false},"author":290,"featured_media":12518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[1295,146,181],"class_list":["post-12517","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-top-stories","tag-carolyn-mccall","tag-itv","tag-itv-studios"],"yoast_head":"\n