ITV plc (ITV.L), a British media company, Thursday reported revenue of 875 million pounds for the first quarter, 1% down from 887 million pounds in the comparable quarter last year, primarily impacted by decline in Media and Entertainment revenue.
Media and Entertainment revenue decreased 3% year-on-year to 489 million pounds, while ITV Studios revenue grew 1% to 386 million pounds.
External revenue rose 4% to 756 million pounds.
Total advertising revenue was 423 million pounds, 2% down from last year, in line with guidance.
"We are continuing to make good progress in implementing our cost and efficiency programme and are on track to deliver significant non-content cost savings while optimising our content spend to best reflect viewer dynamics," said Carolyn McCall, ITV Chief Executive.
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