ITV ad revenue grew 16% in the first quarter, the studio unit grew 23% –

British television giant ITV announced its first-quarter revenue on Wednesday, including a 16 percent increase in advertising to 8.468 million ($578 million).

The company, led by chief executive Carolyn McCall, also said its manufacturing business, ITV Studios, saw revenue growth of 23% to 8.458 million ($565 million) during its opening year 2022, and digital revenue grew 24% to 82.82. million (US$ 101). Million). Total ITV revenue in the first quarter increased 18% to 34.834 million (US$ 1.03 billion).

ITV predicted earlier this year that first-quarter ad revenue would be around 16%, as reported at the time, saying demand “remained strong”. On Wednesday, the company said the first quarter benefited from “good demand across most advertising industries,” with January ad revenue up 15 percent from a year earlier, ending February up 20 percent. and March with 15 percent. “In this context, digital advertising revenue remains very strong, up 27%,” said ITV.

However, the company also reiterated earlier comments that “comparison ad results are getting much tougher in the second and third quarters” in light of last year’s European Football Tournament. ITV added that it also “warns of macroeconomic and geopolitical uncertainty.”

With that in mind, he predicted second-quarter ad revenue would decline by about 6%. This will lead to an increase of about 5% in the first half of 2022 compared to the same period in 2021. “As of April 2022, total ad revenue has increased by 9% and we anticipate that May will decrease by 8% and June by 15%. “- specified in the company.

Compared to 2019, that is, before the start of the coronavirus pandemic, advertising revenue in the first quarter increased by 12%, while in the second quarter it is projected to be around 2%, remaining in the first half of the year around 7%.

ITV Studios had a “particularly strong” first quarter, with “a wide range of new and returning shows and formats available in the UK and internationally, including shows delayed in Q4 2021,” the company said. It was one of the shows held in that period. Possession, Why Evans Wasn’t Asked, Murder in Provence and second season Physicist s rooster game.

The studio group “has an interesting portfolio of written and unwritten shows in Q2 and the rest of the year,” ITV said, noting its efforts to diversify across genres and geographies. “Scripted is growing strongly with programs like snowy (U.S), illegal (Great Britain), ᲔFuck you (Great Britain), jango (Italy) and დროDaylight Savings Time (Italy). Unwritten programs due to be presented this year include სამზარეულო Hell’s Kitchen U.S, Დევნა So do we love Island In the United Kingdom, United States, Australia, Netherlands, Spain and Germany.

ITV also noted that the streaming platform’s revenues globally “continue to grow through developer deals or commissions with most major streaming platforms, including mischievous s One piece for netflix, love Island American drama Peacock and Benjamin Franklin for AppleTV+.

Growing your own streaming business also gets a lot of attention from the ITV team. In March, the company announced plans to “restart” its streaming business with a “digital-first” content strategy. As part of that, it announced ITVX, which it cited as the UK’s first AVOD/SVOD platform to launch in Q4. Your viewers will be able to watch thousands of hours of free content in an ad-supported tier, or opt for a subscription service that provides all of that content ad-free, save for thousands of additional hours of British ITV Streamer BritBox boxes and more. Partner Content.

On Wednesday, ITV said it was “continuing to improve and develop the ITV broadcast experience”, highlighting “a significant increase of 6,000 hours of streaming content from 4,000 at the end of December 2021”. Most shows written in his script are now available for full broadcast during the original broadcast, he added. “Helped to launch the best year for watching dramas online, with 125 million streams in the four months to the end of April, an 8% increase over the same period in 2021.” And the company said: “Warner content is now available, including titles like college girls’ sex lives, boss s a wooden hill.”

Meanwhile, its BritBox UK streaming service “has released some exciting new content, including Why Evans Wasn’t Asked s Murder in Provence“Increasing subscriptions since the beginning of the year,” ITV said without elaborating. “BritBox International is seeing a good increase in subscriptions under our plan in the US, Canada, Australia and South Africa and the recent successful launch in Scandinavia.”

Overall, ITV on Wednesday showed its momentum in business lines. “We focused on the top three value drivers for ITV,” McCall said. “We are growing studios with a strong quarterback and an exciting portfolio of written and unwritten apps as we diversify our business by gender, geography and customer base and grow our market share.” In media and entertainment, we maintained the strength of our linear business, where we serve 93% of the largest commercial audience. And we’re making good progress on our pay-to-stream goal, increasing hours of content per quarter by 50% to 6,000 hours and making most scripted shows available for streaming on-air.

He added: “All of this provides a solid foundation for ITVX, our free ad-based streaming service, which will launch in the fourth quarter and we are confident we will raise at least 750 million ($925 million). Digital revenue until 2026.