ITV has announced “solid” but somewhat lackluster results for the first half of 2026, achieving a 2% increase across its key profit areas. The total group revenue remained stable at £1.9 billion ($2.5 billion).
These results are the first released since the news that ITV is selling its media and entertainment division to Comcast-owned Sky. Meanwhile, ITV Studios is set to be spun off as an independent publicly listed company.
ITV’s group adjusted EBITA (Earnings Before Interest, Taxes, and Amortization) stayed constant at £145 million, showing a slight 2% rise from £142 million in 2025.
However, this figure represents a notable decrease from the £212 million reported in the first half of 2024. At that time, ITV attributed the high earnings to the substantial boost from the Euros soccer tournament, a boost that the World Cup did not replicate.
This difference may be due to the varying performances of the England soccer team in the two tournaments. While they reached the Euros finals, maintaining and increasing viewer interest, they were eliminated in the World Cup quarterfinals, leading to lower viewership in the U.K.
Nonetheless, ITV reported an 8% year-on-year growth in total advertising revenue, attributing this increase to the World Cup, which they said generated “strong advertising and sponsorship demand.”
The situation at ITV Studios was less favorable, especially as it is poised to become an acquisition target following its spin-off. Total revenue again saw a 2% rise, but EBITA fell by 9% to £97 million from the previous year’s £107 million, which itself was a 20% decline from the prior year. This drop occurred despite several high-profile titles like “Love Island,” “Rivals” for Disney+, and “The Gentlemen” for Netflix. ITV attributed these figures to the “phasing of deliveries,” with many set for the second half of the year.
The media giant also acknowledged that the first half of 2025 included several “large deliveries to streaming platforms” like “One Piece” and “The Better Sister,” which were not repeated at the same scale in the first half of 2026.
Among ITV’s success stories is its streaming platform ITVX, believed to be a major factor in the Sky acquisition. It continued to achieve record viewership, growing by 27% in the first half of the year. Advertising revenue also increased by 13% year-on-year, although it faced a £20 million ($26 million) setback due to the government’s regulations on junk food commercials introduced in October 2025. ITV stated it is “working closely with advertisers to mitigate the impact.”
ITV also cautioned that advertising is expected to decline by 5% in the next quarter, “reflecting the current macroeconomic headwinds,” indicating that results by the nine-month mark will likely remain flat.
“ITV delivered a solid H1 performance and we remain on track to deliver our full-year guidance, including good revenue growth in ITV Studios and strong, profitable digital revenue growth within Media & Entertainment,” said CEO Carolyn McCall in a statement. “Macro-economic headwinds remain, but we are focused on the performance of both businesses, with continued momentum, disciplined execution of our strategic priorities and a strong second half delivery schedule in ITV Studios.”
In addition, shareholders received a boost with McCall announcing an interim dividend of 1.7p and a £100 million share buyback.
McCall also confirmed that the regulatory process for the Sky/ITV acquisition is underway, with the culture minister expected to monitor it closely.
