ITV Profits Surge Despite Revenue Dip and Strike Impacts

The UK broadcaster reports a 40% EBITA increase in H1 2024, with significant gains in digital advertising and streaming.

ITV's adjusted EBITA rose by 40% to £213 million in H1 2024, despite a 2% decline in total external revenue.
The 2023 U.S. writers' and actors' strikes delayed £80 million in revenue, impacting ITV Studios' turnover by 13%.
Advertising revenue increased by 10%, bolstered by the UEFA Euro 2024 soccer tournament and strong digital ad performance.
ITV's streaming service, ITVX, saw a 15% rise in streaming hours and a 17% increase in monthly active users.
CEO Carolyn McCall expressed confidence in achieving record profits for ITV Studios by year-end, driven by strategic efficiencies and diversified content.