ITV H1 revenue rises 2% to £1.9bn as World Cup drives TAR and ITVX growth

August 1, 2026 · Advanced Television

ITV reported Group revenue of £1.9 billion (€2.2 billion) for H1 2026, up 2 percent year-on-year, with external Group revenue up 1 percent. Group adjusted EBITA was flat as growth in Total Advertising Revenue (TAR) offset the expected decline in ITV Studios adjusted EBITA. ITV Studios revenue rose 2 percent to £912 million, driven by a 9 percent rise in internal revenue and strong distribution growth, while external revenue fell 1 percent on delivery phasing. Studios adjusted EBITA fell 9 percent to a 10.6 percent margin, reflecting revenue mix and the profit impact of the Soaps and Daytime scheduling changes. Media & Entertainment revenue grew 2 percent, with H1 TAR up 3 percent and Q2 TAR up 8 percent, driven by the FIFA World Cup 2026. ITVX delivered record H1 viewing, up 27 percent, with digital advertising revenue up 13 percent year-on-year, and M&E adjusted EBITA grew 37 percent. ITV achieved £13 million of permanent non-content cost savings in H1, on track for £20 million across the full year. These are ITV's first results since announcing the sale of its Media & Entertainment business to Sky, a deal ITV said it expects to close midway through 2027. CEO Carolyn McCall said the transaction 'will unlock significant value for shareholders, with a net cash return of around £950 million, excluding any contingent consideration.' The board declared a 1.7p interim dividend, worth around £60 million, and announced a £100 million share buyback as an early return of part of that expected £950 million net cash payment.

For media agencies and advertisers, the results confirm that live sport continues to draw premium linear and digital demand: TAR rose 8 percent in Q2 alone on World Cup bookings, and ITVX added a 13 percent jump in digital advertising revenue alongside record viewing. RSM UK analyst Amelia MacPherson said the World Cup helped deliver 'a solid set of interim results,' but cautioned that ITV's real test is converting temporary viewing gains into sustainable advertising and digital revenue growth once the tournament effect fades. With M&E, and the World Cup-linked ad revenues it carries, set to move to Sky on completion of the sale, agencies planning TV and streaming budgets should watch how ITV sustains ITVX engagement and TAR momentum into H2 and beyond, and factor the ownership change into long-term upfront and inventory planning.