Business
Q3 Trading Update
Q3 Trading Update.
About this update from Itv Plc
[{"type":"text","content":"\n \n \n \n ITV plc Q3 Trading Update for the 9 months to 30 September 2022\n \n \n \n \n \n \n \n Carolyn McCall, ITV Chief Executive, said:\n \n \n \n \n \n \n \n \"ITV has performed strongly delivering a 6% increase in total revenue for the first nine months of the year, driven by double digit growth in both digital revenue and revenue from ITV Studios.\n \n \n \n \n \n ITV Studios continues to outperform the growing content market and will exceed 2019 revenues in 2022. It's on track to deliver on all of its KPI targets and has a formidable slate to power it into 2023 as we further diversify the business by genre, geography and customer.\n \n \n \n \n \n We are making good progress on our new, free, ad-funded streaming service ITVX, which will be rolled out across devices and platforms in the coming weeks with the full launch of new and exclusive content on 8th December, in time to reach millions of viewers who will come to ITV for the FIFA World Cup.\n \n \n \n \n \n ITVX will supercharge our streaming business providing viewers with a content-rich destination rather than a catch up service and advertisers with valuable addressable audiences at scale. This will drive significant digital viewing and revenue growth, enabling ITV to deliver at least £750 million digital revenues by 2026.\n \n \n \n \n \n While we remain mindful of the macroeconomic and geopolitical uncertainty there's strong operational momentum across both our Studios and Media & Entertainment divisions, as we continue to build a resilient, diversified business that can take advantage of the global growth in the demand for quality content and the desire of advertisers for both mass reach and data-led addressable advertising, targeting millions of UK viewers.\"\n \n \n \n \n \n \n Financial and operating performance for the nine months to 30 September as expected\n \n \n \n ● Total external revenue up 6% at £2,523 million (2021: £2,381 million)\n \n \n ● Total non-advertising revenue up 13% at £1,619 million (2021: £1,432 million), representing over 50% of total revenue, as we continue to grow and diversify the business\n \n \n ITV Studios\n \n \n ● Total ITV Studios revenue up 16% at £1,387 million (2021: £1,193 million), growing ahead of the market\n \n \n ● ITV Studios delivered a wide range of...