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ITV Profits Tumble By 32% But Green Shoots In Production Division As Broadcaster Kicks Off “Strategic Restructuring & Efficiency Programme”
ITV revealed results as profits tumbled after the BritBox International sale to BBC Studios.
ITV profits tumbled by 32% following a tricky 2023 but there were green shoots in a solid performance from the Studios production arm and in digital advertising. Delivering its full-year results this morning, the UK’s biggest commercial broadcaster said adjusted EBITDA for the group had fallen 32% to £489M, with margin at 13% – down 6 percentage points. ITV said the profit woes were due to “the decline in linear television advertising” and planned investment in streamer ITVX of £464M.
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