ITV Studios returned to growth following the impact of the U.S. strikes and is on course to achieve good growth in total revenues over the full year, weighted towards the second half, as previously guided, U.K. TV giant ITV said on Thursday.

ITV, led by CEO Carolyn McCall, provided a first-quarter 2025 trading update early in the morning. We continue to assess the possibility of trade tariffs in the U.S., it highlighted. ITV Studios only produces TV programming and therefore do not anticipate any direct impact from the imposition of tariffs on films. The company is also bullish on its broader trends. Media entertainment (ME)s solid performance demonstrates ITVs market-leading position in U.K. streaming and broadcast, the CEO said. ITVX continues to perform well, and we expect sustained strong growth in digital revenues. This is underpinned by the powerful reach and strong cash generation of ME.

Total ITV Studios revenue grew 1 percent in the first quarter, while ME revenue declined 3 percent, with total advertising revenue (TAR) down 2 percent, as previously guided. Within this, digital advertising revenue (a component of digital revenue) grew strongly, up 15 percent, ITV said.

In its ad outlook, ITV noted: As previously guided, the year-on-year second-quarter TAR outlook reflects the benefit in 2024 of the mens Euros which drove substantial advertising revenues. Compared to the same period in 2023, second-quarter and first-half 2025 TAR are expected to be broadly flat year on year.

ITV also shared updates on broader trends and initiatives. We are continuing to make good progress in implementing our cost and efficiency program and are on track to deliver significant non-content cost savings while optimizing our content spend to best reflect viewer dynamics, McCall highlighted. While the macroeconomic environment is uncertain, we remain confident that our strategic initiatives, our focus on financial and cost discipline and our diversified revenue and customer base will enable us to successfully navigate an evolving market landscape and deliver long-term value to our shareholders.