RE: Results day6 Mar 2025 07:17
ITV plc's Full Year Results for 2024 reveal strong financial and operational performance. Group revenue was £4.14 billion, down 3%, with an 11% rise in adjusted EBITA to £542 million. ITV Studios achieved record profits, despite challenges like the US writers and actors strikes. ITVX saw impressive growth with a 12% increase in digital viewing and a 15% rise in digital advertising revenue. The company exceeded its investment recovery targets for ITVX, expecting full recoupment by the end of 2025, ahead of schedule.
Efficiency measures delivered £60 million in savings, which helped fund growth investments and improved margins. ITV’s strategy continues to focus on digital growth, with ITVX positioning as the UK’s fastest-growing streaming platform.
For 2025, ITV plans to maintain growth in ITV Studios and digital revenues, with a target to achieve £750 million in digital revenue by 2026. The company expects to generate further cost savings of £30 million, while continuing its transformation to improve efficiency and adaptability. ITV is confident in its prospects, with a strong balance sheet, high profitability, and a proposed dividend of 5.0p per share for 2024.
In summary, ITV's diversification into digital and content production has paid off, positioning it for continued growth and resilience in a changing media landscape.