ITV Says Studios Biz Has Hit “Key Strategic Goal” But Full-Year Revenue At 70-Year-Old Broadcaster Stays Flat

Core Insights - ITV has achieved a significant strategic goal with ITV Studios and its digital Media & Entertainment (M&E) business now accounting for two-thirds of total revenue [1][6] - ITV Studios revenue grew by 5% to £2.13 billion ($2.84 billion), with external revenue increasing by 10%, although U.S. revenue declined by 18% [2] - The company has met key growth targets, including a 10% increase in scripted content and 28% of its business coming from streaming platforms [3] Financial Performance - Overall ITV group revenue remained flat at £4.12 billion, with a 5% decline in Media & Entertainment revenue [5] - Group adjusted EBITA decreased slightly to £534 million, and adjusted pre-tax profit fell by 5% to £448 million [5] - The production arm performed well despite a 32% drop in profits for the previous financial year [7] Market Position and Strategy - The fragmented content market presents a significant opportunity for ITV Studios to capture more market share [4] - Continued growth is expected in key segments such as content licensing and demand from streaming platforms for both scripted and unscripted content [4] - ITV's strategy, set in 2022, aims to create a more entrepreneurial culture and has yielded strong outcomes across ITV Studios and M&E [6]