Naman Ramachandran U.K. broadcaster ITV’s annual results were announced Tuesday and the picture is that of a business severely impacted by COVID-19.Total external revenue was down 16%.
ITV Studios total revenues were down 25%, impacted by the disruption to the majority of ITV productions from March 2020 when the first U.K.
lockdown was declared. Total broadcast revenues were down by 8%, with total advertising down 11%.Adjusted earnings before interest, taxes, and amortization (EBITA) was was down 21% at £573 million ($792.4 million), which the broadcaster said was better than external expectations.
Of this, the most severely impacted was ITV Studios where adjusted EBITA was down 43% to £152 million ($210.2 million), impacted by the decline.
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