ITV hails strong digital growth and streaming registrations

UK commercial broadcaster ITV says it is on track to meet its digital revenue growth targets after recording 18% growth in digital sales in 2022 and seeing new streaming offering ITVX attract 1.5 million new registrations in its first two months.

Carolyn McCall

ITV said total digital revenues were up 18% to £411 million. Total streaming hours were up 9% and within that, total monetisable streaming hours were up 18%. Monthly active users were up 6%; and overall UK streaming subscribers were up 17% to 1.4 million

ITVX meanwhile attracted 1.5 million new registrations, saw total streaming hours grow 69% and streaming hours of lighter viewers grow 94% compared to the same period in the prior year on ITV’s streaming platforms.

ITV’s international streaming operation, BritBox International, saw subscriber numbers rise by 25% to three million.

Apart from digital, ITV’s other star performing unit was its production arm ITV Studios, which turned in revenues of £2.096 billion, up 19%.

While digital growth contributed to ITV’s media and entertainment division, overall revenue for media and entertainment was down 1% to £2.249 billion. That reflected a tougher ad market, though success in digital meant that total advertising revenue was down only 1%.

ITV total revenues were up 7% at £4.435 billion.

Overall group adjusted EBITDA was down 12% to £717 million as investments in digital took their toll.

“2022 was a year of significant strategic progress and ITV delivered a robust set of financial results. The successful execution and delivery of ITVX in Q4 was a major digital milestone. The platform has received a very positive reception from viewers and advertisers alike, with its newly expanded range of original content and a superior user experience engaging more viewers, and lighter viewers, and encouraging them to spend more time with ITV. The user experience and personalisation elements will continue to improve throughout 2023,” said CEO Carolyn McCall.

McCall said the broadcaster was “on track to deliver all our 2026 KPI targets despite a continuing uncertain macro environment”.