The Over-The-Top video streaming market in the Middle East and North Africa (MENA) region experienced robust growth in 2023, with Omdia data reporting a 13% increase across the region and revenues exceeding $1 billion.
The company announced its Q1 financial results, reporting a profit of $86 million for its direct-to-consumer segment, marking a 72% increase year over year.
Total ITV Studios Q1 revenue was down 16%, reflecting the phasing of deliveries and the expected impact of the US writers’ and actors’ strike, while total ITV Studios revenue for FY24 is expected to be broadly flat.
Despite slight declines in Fremantle's global content business, the group signaled optimism for the projected €6.6 billion revenue for the year and continued investment in streaming and content production.