The City saw a large investment bill in the offing, plus definitive proof that the days of easy advertising money from old-style linear television were over, and tuned out. The share price has never seen 100p again and was 56p as recently as last month.
But here - finally - comes a hint of better times. The evidence was not the headline numbers from yesterday's full-year report on 2023, which showed a fall in statutory pre-tax profits of 60% to £193m and a 15% decline in those linear ad revenues. Rather, it was evidence that the shift towards streaming, which was plainly necessary in the age of Netflix and Disney, will deliver what it is supposed to do and cost no more than originally promised. McCall spelled it out: 2023 was the year of "peak investment" in streaming and the group overall is "well placed to grow profits from here".
The critical new development is that the intended compensatory element - advertising and subscription income from ITVXis now genuinely compensating. Digital revenues improved 19% and the key 2026 target of hitting "at least" £750m is intact.
Bu hikaye The Guardian dergisinin March 08, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Guardian dergisinin March 08, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Parry: Premier League would be 'sterile' without EFL
Rick Parry has accused the Premier League of undervaluing the football pyramid, arguing that without the \"variety and competition\" that come from relegation and promotion the game would become \"sterile\".
Official review: Coote faces FA investigation as Webb breaks silence on video
The Football Association has launched its own investigation into the behaviour of the referee David Coote after remarks he made about Jürgen Klopp in a video that surfaced online this week.
Match-by-match: Coote's Liverpool games as an official
Referee who has been caught on video in a foul-mouthed tirade against Jürgen Klopp officiated 21 Liverpool games. Andy Hunter takes a look at the decisions in each one
Wretched, haunted but human: a referee shaped by modern football
Is it really a surprise that an official or someone similar should end up glassy-eyed and spitting toxins on a sofa?
Hall's audition adds intrigue to England's Nations League finale
In-form Newcastle defender can show Thomas Tuchel he can be the solution to perennial problem on the left
'It's about robust planning, proper financial control'
is about \"preventing the shocks\" that have disrupted the sport in recent years.
'People are going to see women's boxing at its very best'
The super-lightweight world champion Katie Taylor says her rematch against Amanda Serrano in Texas, as the main support act to Tyson v Paul, will be something special
Blindkilde Brown and Fujino help City avoid slip up
Manchester City maintained their 100% start in the Women's Champions League group stage as second-half goals from youngsters Laura Blindkilde Brown and Aoba Fujino were enough to beat a determined Hammarby side.
Players must cope with extra scrutiny, says Lewis
The England coach, Jon Lewis, said his players experienced a \"sharp learning curve\" about perception management in the fallout from their disastrous group-stage exit in last month's T20 World Cup.
No input from Jones in England's plan to upset Springboks
England will not be benefiting from the insider knowledge of their former Springbok assistant coach Felix Jones this weekend after it emerged that neither their players nor key staff members have been in contact with the Irishman, still supposedly employed remotely by the Rugby Football Union (RFU).
