ITV Revenues Climb 7% to $5.3 Billion, Operating Profit Remains Static
Total group revenue was up 7% to £4.3 billion and total external revenue was up 8% to £3.7 billion. ITV Studios total revenues grew 19% to £2 billion.
At ITV’s media and entertainment division, while the volume of content available for streaming grew from 4,000 hours in 2021 to 19,000 hours in 2022, adjusted group EBITA was down 22% at £464 million, “largely reflecting the planned investment in content and ITVX to drive future growth,” ITV said. “Our total external revenue growth of 8% 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 was down only 1%, delivering the second highest TAR in ITV’s history.
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