ITV’s First-Half 2026 Results: Modest Gains Amid Spin-Off and Regulatory Headwinds

ITV reported a 2 % uplift across its major profit centres in the first half of 2026, with total group revenue holding steady at £1.9 billion ($2.5 billion). Adjusted Earnings Before Interest, Taxes, and Amortization (EBITA) rose marginally to £145 million, up from £142 million in 2025, but remains well below the £212 million recorded in the same period of 2024. ITV attributed the 2024 peak to the Euros soccer tournament, noting that the World Cup’s earlier exit of the England team led to weaker viewing figures and a lower boost this year. Advertising revenue grew 8 % year-on-year, which ITV linked to “strong advertising and sponsorship demand” generated by the World Cup.

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ITV’s streaming platform ITVX continued to drive digital performance, delivering a 27 % increase in viewing compared with the prior half-year. Advertising revenue rose 13 % year-on-year, though ITV recorded a £20 million ($26 million) hit from the UK government’s October 2025 regulations restricting junk-food commercials. The company warned that advertising could fall 5 % in the next quarter, reflecting broader macro-economic headwinds that would leave nine-month results flat.

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ITV Studios is being spun off as an independent listed company, positioning it as a potential acquisition target. While the studio’s total revenue showed a 2 % uplift, EBITA fell 9 % to £97 million, down from £107 million the previous year. ITV explained the decline as the result of “phasing of deliveries,” with several high-profile titles—such as “Love Island,” “Rivals” (Disney+), and “The Gentlemen” (Netflix)—scheduled for the second half of the year. The broader media conglomerate is also navigating the regulatory review of its proposed sale of the media and entertainment arm to Comcast-owned Sky, a process the culture minister is expected to scrutinise closely.

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In the same statement, she announced an interim dividend of 1.7 pence per share and a £100 million share-buyback programme.

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