ITV Half Year External Revenues Soar to $2 Billion
, ITV chief executive, said: “TAR is expected to be broadly flat in the nine months to the end of September. We are mindful of the macro economic uncertainty, however we have for the first time ever in Q4, the football [soccer] World Cup to look forward to.”
The adjusted group earnings before interest, taxes, and amortization was down 3% at £318 million for the six month period. “This reflects strong underlying performance offset in M&E by additional disciplined investment of £58 million in content and £20 million in data and technology ahead of the launch of [streamer] ITVX,” ITV said in a statement.
EBITA was £228 million and statutory profit before tax was £219 million, up from £133 million in the corresponding period in 2021. ITVX is on track to launch in the fourth quarter of the year and, on the back of this, ITV is predicting £750 million of digital revenues by 2026. Digital viewing on ITV Hub, the broadcaster’s current streaming service, was 814 million streams, up 8% year on year.
McCall said: “ITV has recorded a strong performance across the business with both our studios and media and entertainment divisions performing better in the first half than we expected at the beginning of the year. Revenues in both divisions were up year on year and as a result total external revenue rose 8%.”
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