Skip to main content July 23, 2025 11:14pm Share on Facebook Share to Flipboard Send an Email Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Print the Article Post a Comment ITV CEO Carolyn McCall Courtesy of Getty Images Share on Facebook Share to Flipboard Send an Email Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Print the Article Post a Comment U.K. TV giant ITV, which recently struck a content deal with Walt Disney to share content between streaming services Disney+ and ITVX, reported first-half 2025 revenue on Thursday, including a 7 percent advertising revenue drop. That outperformed a bigger decline that had been forecast due to the benefit seen during the same period in 2024 from the men’s Euros soccer tournament, which drove substantial ad revenue. Second-quarter ad revenue fell 12 percent, also less than forecast by management. Total advertising revenue was up 2 percent for the six-month period when compared to 2023, ITV, led by CEO Carolyn McCall, highlighted in its first-half financial update early in the morning London time. Related Stories How a New Generation of British Documentarians Is Embracing Politically Charged Storytelling HBO Max Hires ITV's Sasha Breslau and Amazon's Alessandro Volpato to Lead Acquisitions in U.K., Italy ITV Studios posted a revenue increase of 3 percent for the first six months of 2025. The production arm, which has been a much-rumored takeover target for various possible bidders in the industry, had previously said that “we remain on track to deliver our target of total organic revenue growth of 5 percent on average per annum from 2021 to 2026 – ahead of the market,” but this year would be weighed more towards the second half of the year. Overall, ITV on Thursday reported that first-half adjusted EBITA dropped 31 percent to £146 million ($198 million), while total revenue was down 1 percent to £1.85 billion ($2.51 billion). “We are announcing an additional £15 million ($20 million) in permanent non-content cost savings, taking the total group permanent non-content savings in 2025 to £45 million ($61 million),” ITV also announced. “There will be a one-off cost of £40 million ($54 million) to achieve the total group savings. We expect our total content spend to be around £1.23 billion ($1.67 billion) in 2025, compared to the £1.25 billion ($1.70 billion) previously indicated, as we continue to optimize our content spend to best reflect viewer dynamics. While the economic environment remains uncertain, we now expect a better outturn for the full year 2025, driven by these cost efficiencies.” “ITV is now a leaner, more digital business in a strong position to compete and succeed in a changing market,” McCall said. “We have the agility and capability to make the most of new revenue opportunities while driving profitable growth, strong cash generation and attractive returns to shareholders.” She added: “ITV Studios continues to see positive momentum, with strong growth in external revenues in the first half, driven by content for the global streaming platforms, including The Devil’s Hour for Amazon Prime Video, and Run Away for Netflix.” Total advertising revenue is expected to be “marginally down” in the third quarter, “compared to the same period in 2024, reflecting the tough comparative from the final knockout matches of the Men’s Euros in July 2024,” ITV said in a forecast. “Within this, we expect continued strong growth in digital advertising revenues.” ITV continues to focus on growing a successful production business, McCall said earlier this year as she declined to comment on market chatter about a possible merger for ITV Studios. “We’ve got a really high-quality business. We already have scale, and we’re very diversified,” she said. “There’s been a lot of speculation, but I think you’d expect that speculation. There’s (also) speculation about Banijay and Fremantle, and there’s speculation about all studios businesses. We won’t comment on any speculation. All we would say is that we will continue to build the business as it has been built. We’ve grown even since 2018 by about 35 percent.” Asked about industry consolidation, McCall said the consensus, whether in the U.S., the U.K. or Europe, continues to be that there will be more. “We are holding our own,” she concluded though. THR Newsletters Sign up for THR news straight to your inbox every day international Box Office Grosses Won’t Return to Pre-COVID Levels Even By 2029, New Report Forecasts YouTube Ad Revenue Nears $10 Billion in Latest Quarter Warner Music Group Warner Music Group Names Alejandro Duque New President of ADA Sony Pictures Television ‘Quiet on Set’ Producer Maxine Taps Anneka Jones to Head Development, Current Programming A Chat With Peter Rice As He Steps In to a New Role: Head of Ceremonies at L.A.’s Olympic Games Skydance Tells FCC It Will Create CBS News Ombudsman, Eliminate DEI at Paramount The Hollywood Reporter is a part of Penske Media Corporation. © 2025 The Hollywood Reporter, LLC. All Rights Reserved. THE HOLLYWOOD REPORTER is a registered trademark of The Hollywood Reporter, LLC. Powered by WordPress.com VIP