ITV Sees Studios & Streaming Revenues Grow To Offset Network Drops
deadline.comITV Studios and ITVX revenues helped to offset falls in linear at UK network ITV in the first nine months of 2023. A Q3 trading update revealed ITV Studios turnover has grown 9% to £1.52B ($1.87B), while digital revenues — much of which are now derived from streamer ITVX — are up 23% to reach £340M.
Key productions in the period have included Prime Video tennis drama Fifteen Love; Love Island USA season 5 for Peacock; and World on Fire season 2 for the BBC, while total streaming hours were up 27% year-on-year to the end of September — you can read more analysis about ITV’s pivot to streaming here.
Those two figures meant ITV’s overall revenues remained almost exactly flat, up 1% at £2.98B. Total external revenue was a similar result, coming in at £2.53B.
Revenue from the Media & Entertainment division that houses its networks was down 7%, as expected, at £1.46B. Advertising revenue was down 7%.
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