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ITV Studios Revenues Down As Impact Of Hollywood Strikes Bites

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09.05.2024 - 08:31

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UK network ITV has posted Q1 revenues down 7%, as its studios division felt the impact of last year’s Hollywood labor strikes.

The commercial broadcaster’s total revenue was £887M ($1.1B), compared with £952M in 2023, with a recovery in the ad market offset by a 16% dip at ITV Studios.

The Media and Entertainment unit that houses its main network was up 2% at £505M, according to a trading update this morning.

Earnings weren’t broken out. Total revenue at ITV Studios, which makes the likes of Love Island and Mr Bates Vs the Post Office were £382M, down on the £457M in the same period last year.

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