ITV Revenues Take a Hit Across The Board in Q3, Studios Business Feeling Pain of COVID-19

variety.com:

Naman Ramachandran U.K. broadcaster ITV’s revenues for the nine months of 2020, ending Sept. 30, have plunged by 16% compared to 2019 levels.The company in its Q3 results on Thursday posted total external revenue at £1.86 billion ($2.45 billion), down from £2.21 billion ($2.91 billion) in 2019.

Revenues for ITV Studios, the broadcaster’s production-distribution engine, were down 19% to £902 million ($1.18 billion), compared to £1.1 billion ($1.45 billion) in 2019.Broadcast revenue was down 13% at £1.27 billion ($1.67 billion), compared to £1.46 billion ($1.92 billion) in 2019, with ITV total advertising down 16% and online revenues up 2%.However, despite the debilitating effects of the ongoing coronavirus pandemic, the broadcaster managed.