6 May 2020 – trading update
A trading update has been provided for the first quarter of 2020. Total external revenue was down 7% at £694m (2019: £743m). Total ITV Studios revenue was down 11% at £342m (2019: £385m), impacted by the phasing of deliveries and restrictions on working practices due to Covid-19. Broadcast revenue was up 2% at £500m (2019: £489m). ITV total advertising was up 2% and online revenues were up 26%. ITV total viewing was up 2% with very strong growth in online viewing up 75%, simulcast viewing up 112% and reach up 40% on the ITV Hub. ITV main channel’s share of viewing was slightly higher at 17.9%, its best quarter since 2009. ITV Family share of viewing was down 2% at 23.6%, partly impacted by the volume of the BBC’s news output. We continue to rate the shares as a BUY.