ITV’s total advertising revenue is up by 10% (from £811 million in 2023 to £889 million in 2024), as waters calm after a tough period for the broadcaster.

Digital advertising was even stronger, increasing by 17% from £179m in 2023 to £209m in 2024.

ITV Studios revenue was down by 13% at £889 million, which the broadcaster said was expected due to the impact of the 2023 writer’s strikes and the “phasing of deliveries” which are weighted to H2. The broadcaster cut £10m of spending on programming amid an ad slump last year.

It comes after ITV’s results last quarter showed a sharp drop of just over 60% in profits.

During the presentation, boss Dame Carolyn McCall highlighted that the business was on track to deliver the £40 million in savings proposed last year.

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Total advertising revenue for media and entertainment grew 10% from £811 million in 2023 to £889 million in 2024.

Advertising for retail accounted for £165m for the half year, representing a 17% up year-on-year, while entertainment and leisure accounted for £84m and was 23% up.

However, ITVX subscribers declined from 1.3 million last year to 0.9 million. The broadcaster said the performance was “as expected” due to its closure of the Britbox UK app and the Britbox UK service on Amazon Prime video channels.

“ITV has been transformed over the last five years and we continue to build upon this. We are confident ofdelivering increased adjusted EBITA this year, following the year of peak net investment in 2023, and are ontrack to deliver our 2026 KPI targets,” said ITV chief executive  Carolyn McCall.

She added that the broadcaster is doing well “despite the expected market backdrop”, adding that it is forecast to deliver record EBITA.