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ITV Delivers Profit Surge Despite Revenue Dip, Bolstered by Streaming and Cost Cuts

  Copy link into your clipboard //media-entertainment.news-articles.net/content/ .. ue-dip-bolstered-by-streaming-and-cost-cuts.html
  Print publication without navigation Published in Media and Entertainment on by Variety
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
  The British media giant reported an 11% increase in group adjusted EBITA (earnings before interest, taxes, and amortization) to £542 million ($700 million), driven by record profits at ITV Studios and growth in its Media & Entertainment division.
ITV, the British broadcaster, reported its financial results for 2024, highlighting a challenging year with a 15% decline in total advertising revenue, which significantly impacted its overall performance. Despite this, ITV managed to increase its streaming service, ITVX, by 55% in streaming hours, showcasing a strong shift towards digital platforms. The company's total revenue fell by 7% to £3.6 billion, with adjusted EBITDA dropping by 22% to £490 million. ITV Studios, however, saw a slight revenue increase of 2% to £2.2 billion, driven by demand for content. To address the downturn, ITV announced cost-saving measures, including a reduction of 200 jobs, aiming to save £50 million annually. Additionally, ITV is focusing on expanding its global content production and enhancing its digital offerings to adapt to the evolving media landscape.

Read the Full Variety Article at:
[ https://variety.com/2025/global/global/itv-2024-financial-results-1236328975/ ]