ITV has said it is on course to recoup the investment made in streaming service ITVX by the end of 2025.
The broadcaster has announced a Group EBITA up 11% in 2024 following record profits within ITV Studios, which has navigated the Hollywood writers and actor strikes and a reduced demand from free-to-air broadcasters.
“ITVX has been the UK’s fastest growing streaming platform over the last two years and coupled with our programmatic advertising platform, Planet V, has delivered significant growth in both digital viewing and revenues and is providing attractive returns,” said Carolyn McCall, ITV Chief Executive.
“Our efficiency programme has delivered savings which have funded growth investments, offset inflation and improved our margins. The programme is ongoing and will continue to be viewer led – driving efficiencies and prioritising our investment to best reflect viewer dynamics and attract both mass reach audiences on linear and targetable audiences on ITVX.”
Streaming hours were up 12% and monthly active users were up 14% driven by the strong performance of programmes such as the European football championships (Euros), Love Island and Until I Kill You.
