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ITV Quarterly Revenues Down, Streaming Business Soars

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U.K. broadcasting giant ITV’s revenues dipped in the first quarter of 2023, but streamer ITVX has seen a growth uptick, according to figures released on Thursday. The financial and operating …

’s revenues dipped in the first quarter of 2023, but streamer ITVX has seen a growth uptick, according to figures released on Thursday.

Total ITV Studios revenue was flat at £457 million . Deliveries in the U.K. and internationally included “ ITV’s media and entertainment revenue was down 9% at £495 million , with total advertising revenue down 10%, which the broadcaster says is “better than the wider TV advertising market.” Within this digital advertising revenue was up 30% at £87 million compared to the same period in 2022.

The broadcaster said that it had maintained its strength in delivering mass reach with 93% of the top 1,000 commercially broadcast TV programmes and 34.4% share of commercial viewing on channels. ITV projects a similar positive outlook in media and entertainment with revenues expected to be up over 20% but says that total advertising revenue will be down 12% in the second quarter.

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