ITV reports “robust” Q1
May 11, 2022
By Chris Forrester
Overall, the UK’s main commercial broadcaster ITV was satisfied with its Q1 results, which were in line with expectations.
Q1 revenues grew 23 per cent year-on-year to £458 million (€536m), with total advertising revenues rising 16 per cent to £468 million, as expected, and digital revenues increasing 24 per cent to £82 million.
Within the mix, ITV Studios outperformed expectations – partially explained by delayed Q4 programming deliveries. In terms of guidance Q2’s ad-revenues are guided to fall -6 per cent vs expectations of -8 per cent.
ITV CEO, Carolyn McCall, commented: “ITV has achieved strong Q1 revenues driven by a robust operational and financial performance […] All of this provides a solid foundation for ITVX – our free, ad-funded streaming service – which is on track for launch in Q4 and we remain confident that we will deliver at least £750 million of digital revenue by 2026.”