ITV, the UK commercial broadcaster, has reported that Group total external revenue was up 1 per cent in Q1 2026 and Group total revenue was flat year on year at £877 million (€1.01bn).

ITV Studios delivered total revenue growth of 4 per cent to £400 million, driven by strong external revenue growth up 8 per cent, primarily reflecting the phasing of deliveries to global streaming platforms, including Skyscraper Live for Netflix, Rivals Season 2 for Disney+, and Love Island US: Beyond the Villa Season 2 for Peacock.

Internal revenue declined by 7 per cent, as expected, due to the lower volume of Soaps and Daytime content following the previously announced strategic scheduling and production changes. Media & Entertainment (M&E) revenue was down 2 per cent in Q1, with 12 per cent growth in digital revenue largely offsetting the decline in linear advertising revenue.

Digital advertising revenue grew 14 per cent, supported by a record-breaking start to the year for ITVX, with total streaming hours up 13 per cent — driven by content such as the drama Gone, reality series Love Island: All Stars (pictured), and the Six Nations Championship. M&E non-advertising revenues were down 8 per cent.

ITV noted that, following the announcement in November 2025, it remains “in active discussions with Sky regarding a possible sale of the M&E business” in a deal valued at a potential £1.6 billion. The broadcaster advised that it would !update the market in due course” – a repeat of largely the same statement given in March. However, industry speculation suggests a deal could be closed within weeks.

Carolyn McCall, ITV Chief Executive, commented: “ITV maintained good momentum in the first quarter of 2026, delivering results in line with market expectations. Our strategic priorities of expanding ITV Studios and supercharging our digital Media & Entertainment business continue to deliver clear and positive results. Total external revenue grew 1 per cent with Studios and Digital revenue growth more than offsetting the decline in linear advertising. Total advertising revenue declined 1.5 per cent in Q1, better than guidance. We expect TAR to be up around 10 per cent in Q2 and a strong July, driven by significant demand from advertisers around the Men’s football World Cup.”

“While we are monitoring the ongoing difficult geopolitical environment, we are focused on what we can control and remain on track to deliver our full year guidance of good revenue growth in ITV Studios and strong profitable digital revenue growth in M&E,” concluded McCall.

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Categories: Articles, Broadcast, Business, M&A, Results

Tags: itv, ITV Studios, ITVX, love island, sky