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ITV Delivers Profit Surge Despite Revenue Dip, Bolstered by Streaming and Cost Cuts
British broadcaster ITV reports 11% profit growth as streaming success outpaces market.
“Three years ago we announced the second phase of our More than TV strategy and today’s results show our significant progress and success in navigating the rapidly changing media industry,” said Carolyn McCall, ITV chief executive, in the earnings release. The studio division delivered several high-profile successes including “Mr Bates,” the biggest drama in the U.K. in 2024; “Fool Me Once,” one of Netflix’s most-watched shows of all time; and “Rivals,” described as “Disney+’s breakout hit.” With content production and digital now accounting for close to two thirds of revenue, McCall emphasized that ITV is “becoming a more resilient business” well positioned to “deliver good profitable growth, strong cash generation and attractive returns to shareholders.”
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