U.K. commercial broadcaster ITV’s annual results for 2023 were revealed Thursday.
Total group revenue was down 2% and total external revenue was down 3% to £3.6 billion ($4.6 billion). Total revenues at ITV Studios, which produces shows including “Fool Me Once” and “Love Island,” grew 4%.
The U.K. media conglomerate also revealed linear advertising had dropped by 15%. The group adjusted EBITA (Earnings Before Interest, Taxes and Amortization) was down 32% to £489 million, reflecting the decline in linear advertising revenue and investment in streamer ITVX. EBITA was £404 million, down from £668 million in 2022. Statutory profit before tax was £193 million down from £501 million in
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