ITV plc (GB:ITV) has released an update.
ITV plc reports a 7% decrease in total revenue for Q1 2024, with a notable 16% decline in ITV Studios revenue due to the US writers’ and actors’ strike and European broadcasters’ reduced spending. Despite this, the company experienced a 3% growth in total advertising revenue and anticipates an 8% increase in H1, supported by a strong pipeline of programs set for H2. Additionally, ITVX’s streaming hours rose by 16%, and digital advertising revenues are up 14%, indicating robust digital performance.
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