UK ITV Despite facing the challenges of American actors and writers and softening the demand from traditional broadcasters, revealed a strong profit increase in their entire year results for 2024.
The British media veteran reported an increase of 11% in Group Adjusted Ebita (earnings and earlier earnings) for £ 542 million ($ 700 million) for record profits at ITV Studio and an increase in its media and entertainment division.
“Three years ago we announced the second phase of more than the TV strategy and today’s results show our important progress and success in navigating the rapidly changing media industry,” Caroline McCalChief Executive of ITV, in earning release.
With a decline in ITV studio revenue, the total group revenue increased to 3% $ 5.34 billion. The group was 4% below external revenue $ 4.51 billion.
The company’s streaming platform ITVX emerged as a standout artist, with a jump of 12% in digital advertising and 15% in 2024. McCall stated that ITVX “has been the fastest growing streaming platform of the UK in the last two years” and is giving attractive returns before the schedule. The growth of the platform assisted Drive Media and Entertainment (M&E) up to $ 322 million.
The company said, “During 2024, the year older digital revenue increased to more than the ITVX costs, two years ago,” two years ago, “By the end of 2025, by the end of 2025, it would have resumed the cumulative investment in ITVX” by the end of 2025.
ITV Studio, despite a decline of 6% revenue, increased its adjusted Ebita by 5% to $ 386 million with a better margin of 14.7%. The Studio Division gave many high-profile successes in the UK in 2024, including the biggest drama “Mr. Bates”; One of the most viewed shows of all time of Netflix, “Make me fool once”; And is described as “rivals”, “Disney+breakout hit”.
The company’s efficiency program extended $ 77.5 million in savings during 2024, $ 12.9 million from the scheme, and will continue in 2025 with an additional $ 38.7 million in non-social savings.
McCall emphasized the increasing flexibility of ITV, given that material production and digital revenue is now about two-thirds of the company’s income. The statutory operating profit increased from $ 307 million to $ 410 million in 2023, while the profit before tax increased to $ 672 million.
Broadcaster’s profit-to-the-cost conversion rate was 83%, with net debts from $ 713 million to $ 5.57 billion in 2023.
Further, ITV estimates the “good revenue growth” for ITV studios in 2025, although margin is expected to be lower than in 2024, while 13–15%remains within its target limit. The company also announced plans for its new digital studio label, Zoo 55 launched in January 2025, which aims to run high-margin development from the global digital distribution market.
ITV is expected to get at least $ 967 million in digital revenue by 2026. The company plans to expand digital distribution through a new partnership with YouTube and detect new revenue currents beyond the advertisement.
The board proposed the final dividend of 3.3p per share, bringing the full year’s dividend to 5.0p, in total about $ 245 million.
Now accounting close to two -thirds of revenue with material production and digital, McCall stressed that ITV “is becoming a more flexible business” is deployed to give good profitable growth, strong cash production and shareholders attractive returns. “
