Britain’s ITV announced a 21% annualized fall in adjusted earnings, no worse than expected after improving ad demand at the end of last year.
The company added that this was a positive trend in a “challenging” market, as it described. As ITV broadcasting company quickly restarted its production business after the Corona epidemic began and worked hard to bring advertisers back to its screens.
Markets in all fields currently remain in a state of uncertainty and stability with the possibility of the return of the ban and general closure, which will return to affect revenues again.
The broadcasting platform, which aired its “Oprah Winfrey” interview with Megan and Prince Harry on Monday, said it expects its total revenue from advertising to decline 6% in the first quarter of this year, despite revenue from VOD distribution systems up 14%.
According to previous predictions, it is expected that advertising revenue for the month of March should rise by 8% and reach in April to a rate of 60-75%. It is worth noting that ITV announced that subscriptions to its service for VOD distribution systems called “BritBox” reached half a million subscribers in Britain, while BritBox subscriptions in America increased by 50% over the past year.
The company reported adjusted gross profit of £573 million ($792 million) out of total external revenue of £2.78 billion for 2020, down by 16%.