ITV Says Studios Biz Has Hit “Key Strategic Goal” But Full-Year Revenue At 70-Year-Old Broadcaster Stays Flat
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```json
{
"content": "British broadcaster ITV announced today that its studios division has achieved a "key strategic goal" as the company published its annual results, with CEO Carolyn McCall highlighting this milestone amid preparations to sell its networks business to Sky. According to the results, ITV Studios combined with its digital Media & Entertainment (M&E) division now accounts for two-thirds of the company's total revenue. The studios arm, responsible for producing popular shows such as Love Island and Hell's Kitchen, demonstrated stronger growth than the wider broadcasting business, posting a 5% revenue increase to £2.13 billion ($2.84 billion). Notably, "external revenue" from shows produced outside ITV grew by 10%, though revenue from the U.S. market declined by 18%. Adjusted EBITA for ITV Studios remained flat during the reporting period. This strategic achievement comes as ITV, a 70-year-old broadcaster, undergoes significant restructuring. The company is currently preparing to sell its networks business to Sky, a move that would transform its operational focus. The increased contribution from studios and digital content represents a deliberate pivot toward production and digital platforms, aligning with industry trends where content creation has become increasingly valuable and profitable compared to traditional broadcasting operations.",
"key_points": ["ITV's studios division has achieved a "key strategic goal" according to CEO Carolyn McCall", "ITV Studios and digital Media & Entertainment now account for two-thirds of total revenue", "External revenue from shows produced outside ITV grew by 10%, though U.S. revenue declined by 18%", "The achievement comes amid ITV's preparations to sell its networks business to Sky"],
"themes": ["Corporate Strategy", "Media Transformation", "Financial Performance"],
"keywords": ["ITV", "Carolyn McCall", "Studios", "Strategic Goal", "Revenue Growth", "Networks Sale", "Sky", "Media & Entertainment"]
}
```
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Original Source
As ITV prepares to sell its networks biz to Sky, the 70-year-old broadcaster’s studios arm has hit a milestone. With the publication of its annual results this morning, CEO Carolyn McCall said ITV has hit a “key strategic goal.” ITV Studios, plus its digital Media & Entertainment (M&E) biz, now accounts for two thirds of overall total revenue, she added. Revenue at ITV Studios once again outgrew the wider broadcasting business at ITV last year, the results revealed. ITV Studios, which makes and sells the likes of Love Island and Hell’s Kitchen, posted a revenue rise of 5% to £2.13B ($2.84B), with “external revenue” – shows made outside ITV – shooting up by a heftier 10%, although revenue from the U.S. actually declined by 18%. Adjusted EBITA remained flat for ITV Studios. Related Stories News 'Lord Of The Flies' Star David McKenna On Bringing Piggy To Life In A World Of Chaos & His Dreams Of Making It To London's West End
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