Business
ITV plc Q1 Trading Update
ITV plc Q1 Trading Update.
About this update from Itv Plc
[{"type":"text","content":"\n\nITV plc Q1 Trading Update for the three months to 31 March 2025\n \nQ1 2025 Key Messages - Q1 in line with expectations, demonstrating the continued successful implementation of our strategy\n● Total ITV Studios revenue was up 1% in Q1, with significant growth in external revenue\n● ITVX's strong momentum continued with 15% growth in digital advertising revenue in Q1, ahead of the market\n● Total advertising revenue in Q1 was in line with guidance\n● On track to deliver £30 million of non-content cost savings over the full year\n \nCarolyn McCall, ITV Chief Executive, said:\n\"Our Q1 performance was in line with our expectations, demonstrating the continued successful implementation of our strategic priorities.\n \n\"ITV Studios returned to growth following the impact of the US strikes and is on course to achieve good growth in total revenues over the full year, weighted towards H2 as previously guided.\n \n\"M&E's solid performance demonstrates ITV's market leading position in UK Streaming and Broadcast. ITVX continues to perform well, and we expect sustained strong growth in digital revenues. This is underpinned by the powerful reach and strong cash generation of M&E. As previously guided, the year-on-year Q2 TAR outlook reflects the benefit in 2024 of the men's Euros which drove substantial advertising revenues. Compared to the same period in 2023, Q2 and H1 2025 TAR are expected to be broadly flat year on year.\n \n\"We are continuing to make good progress in implementing our cost and efficiency programme and are on track to deliver significant non-content cost savings while optimising our content spend to best reflect viewer dynamics. \n \n\"While the macroeconomic environment is uncertain, we remain confident that our strategic initiatives, our focus on financial and cost discipline and our diversified revenue and customer base will enable us to successfully navigate an evolving market landscape and deliver long-term value to our shareholders.\"\n \nFinancial and operating performance for the three months to 31 March 2025\n● Total external Group revenue was up 4% at £756 million (2024: £727 million), with growth in external Studios revenue more than offs...