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While total external revenue rose 2% to £1.65 billion, ITV Studios grew 9% year-on-year to reach £1 billion in revenue, offsetting a 9% drop in total advertising revenue and flat performance from digital platform ITVX.

The company presented its Q3 trading update for 2024, as it remains optimistic about future growth and profitability, buoyed by ITV Studios’ strong Q4 expectations and the continued expansion of ITVX.

Creative Diversity Network’s seventh annual report highlights ongoing challenges and progress in UK television diversity.

It´s a consequence of the downturn in advertising market.The company had reported a recovery in the ad market in these results, but the damage has already been done, with McCall previously describing the downturn as the worst since the financial crisis.

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.