

- A full reconciliation between our adjusted and statutory numbers is included in our APMs section of our 2025 full year results RNS
- Includes £614 million of M&E digital revenues (2024: £556 million)
- Group Adjusted EBITA includes £3 million related to unrealised profit in stock adjustments (2024: £(7) million)
Our Strategic Assets and Competitive Advantages
ITV’s business model is built upon a unique set of strategic assets and competitive advantages, based on our ability to create, own, manage, and distribute the rights to our content.
Group:
- Producer, broadcaster and streamer model creates valuable synergies
- Strong, trusted brand, products and culture
- A high-performing, agile, creative and diverse workforce
ITV Studios:
- World-class talent producing some of the most successful shows around the world
- Scaled and diversified global studios creating strong platform for growth
- Unique and valuable library and Zoo 55, ITV Studios’ digital label, enabling ITV to maximise the monetisation of intellectual property (IP) globally
- Deep, established relationships with the world’s largest content buyers
- Focuses on the key growth segments of the content market – premium scripted and unscripted content for global streamers, and global content licensing and distribution, particularly for digital platforms
- Attractive and resilient business model delivering high-quality earnings
ITV Media & Entertainment:
- Commercial leader
- Compelling commercial proposition with strong relationships with advertisers and partners
- Leading digital platforms in ITVX and Planet V, the UK’s second-largest programmatic targeted addressable platform
- Strong data capabilities with one of the largest first-party datasets in the UK
- Trusted brand with a strong content offering across ITVX and our linear TV channels
- Cost discipline, agility and highly cash-generative
Our Diversified Revenue Streams
By leveraging our strategic assets and competitive advantages to maximise the value of our IP across ITV Studios, Streaming and Broadcast, we are able to grow our diversified revenue streams and create value for our shareholders.
Our Risk Management Framework
ITV operates in an increasingly complex business environment, and our risk management framework provides the business with the tools to continually identify, assess, and manage our risks. This enables the Board and the business to strike the right balance between risk-taking and mitigation, ensuring underlying strategic risks are managed for the successful delivery of our strategy.

