U.K. broadcaster ITV has reported mixed financial fortunes for the first quarter of 2024.
Its advertising revenue growth of 3%, with the second quarter expected to be up around 12%, is offset by the downturn in revenues from ITV Studios. Total revenue was down 7% to £887 million ($1.10 billion), between January and March, compared to £952 million ($1.18 billion) during the same period in 2023.
Within that total, ITV Studios revenues were down by 16% to £382 million (2023: £457 million), “due to the phasing of deliveries which are heavily weighted to H2 and the expected impact from both the 2023 U.S. writers and actors
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