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Investing.com -- ITV plc on Thursday reported better-than-expected performance for the first nine months of 2025, with total group revenue growing 2% year-to-date despite a challenging advertising environment.
The company’s strong performance was driven by an 11% increase in ITV Studios revenue and a 15% rise in digital advertising as ITVX continues to perform well.
Total advertising revenue (TAR) was flat in Q3, ahead of guidance, though down 5% year-to-date compared to 2024, which benefited from the Men’s Euros.
ITV expects to deliver good revenue growth in ITV Studios for the full year at a margin of 13-15%.
However, the company noted that economic uncertainty in the UK ahead of the November Budget is impacting advertising demand across the industry in Q4, with TAR expected to decline around 9% in the quarter.
In response to softer advertising demand, ITV has identified £35 million in additional temporary savings in its Media & Entertainment division for Q4. These include £20 million in content savings by moving some programming into 2026, and £15 million in non-content savings through reduced discretionary and marketing spend.
"ITV has delivered a good performance in a tough advertising market," said Carolyn McCall, ITV Chief Executive. "Both our businesses are performing well, reflecting the significant transformation we have delivered."
For the nine months ended September 30, total external revenue rose 4% to £2.4 billion. ITV Studios external revenue jumped 20%, reflecting strong demand from global streaming platforms, while digital revenues increased by 13%.
ITVX continued to show strong growth with streaming hours up 14%. The company remains on track to deliver at least £750 million of digital revenues by 2026.
Despite current challenges, ITV maintains a strong content lineup for Q4, including "I’m A Celebrity…Get Me Out Of Here," "The 1% Club Rollover," and "The Accidental Tourist with Ant & Dec."
The company had total liquidity of £1.38 billion at the end of September, with net debt of £508 million, down from £586 million at the end of June.
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