ITV PLC

ITV Plc engages in the production and broadcasting services. It operates through the Broadcast & Online, and ITV Studios segments. The Broadcast & Online segment offers commercial family of channels and delivers content through traditional television broadcasting. The ITV Studios segment creates and produces programs and formats that return and travel, namely drama, entertainment, and factual entertainment. The company was founded in September 1955 and is headquartered in London, the United Kingdom.

ITV PLC (LSE:ITV)'s first quarter update faced mixed reviews from Deutsche Bank analysts, which highlighted a weaker studio performance as dragging on the results. Indeed, the network reported a 16% fall in revenue on Thursday from its studio division over the quarter, as total income fell 6%.

ITV viewed cautiously as fallout of actors strike goes on - analysts

Revenues at ITV dropped during the first quarter, as the fallout of the US writers' and actors' strike offset recovering advertising sales.

ITV's Q1 Revenues Dropped 7% As US Strike Action Hit Show Production

UK network ITV has posted Q1 revenues down 7%, as its studios division felt the impact of last year's Hollywood labor strikes. The commercial broadcaster's total revenue was £887M ($1.1B), compared with £952M in 2023, with a recovery in the ad market offset by a 16% dip at ITV Studios.

ITV Studios Revenues Down As Impact Of Hollywood Strikes Bites

ITV PLC (LSE:ITV)'s total revenue for the first quarter was £887 million, a decrease of 7% compared to the same period last year. This decline was attributed to a 16% drop in ITV Studios' advertising revenue, which stood at £382 million, reflecting the phasing of deliveries and the impact of the US film industry strikes.

ITV advertising slump persists, but streaming hours surge

UBS has revised its price target for ITV PLC (LSE:ITV) downwards from 76 pence to 73 pence due to increased marketing and labour costs. The investment bank, which retained its 'neutral' recommendation, has also adjusted its earnings per share (EPS) projections for ITV for the fiscal years 2024 to 2026, reducing them by approximately 4%.

ITV downgrade by influential investment bank

ITV shares rose on Thursday after the broadcasting goliath announced signs of recovery in the battered advertising market.

News for ITV PLC Stock (ITVPY)