ITV ad revenue down
By Sarah Wood | 11th May 2023
ITV's advertising revenues were down 10% in the three months to March 31, in line with expectations.
The broadcaster believes sales will be boosted over the summer by the return of Love Island, as well as the FA Cup Final on June 3, as reported by This is Money.
Meanwhile, the company's production arm, ITV Studios, saw revenue drop by 7% to £776 million, compared to £834 million in 2022.
Revenue from the group's Media & Entertainment arm fell by 9% to £495 million, compared to £545 million for the same period last year.
While total advertising revenue was down by 7%, digital advertising revenue increased by 30% to £87 million.
The broadcaster said its ad-funded streaming service, ITVX, was performing strongly, with digital revenues up 29% and streaming hours up 49% for the quarter.
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