Carolyn McCall, CEO of ITV, starred a recent conference where the exec offered an update on ITVX and a discussion about ITV Studios, emphasizing the potential for reality programming on the channel.
At the RTS Cambridge Convention, she acknowledged the challenge of ad revenues not yet rebounding in the second half of 2023, a factor that may affect the broadcaster’s overall performance.
The session focused on the achievements of ITVX. Despite an initial drop in share price when ITV announced plans to enhance the streaming service in March 2022, its performance since its launch at the end of the same year has vindicated the strategy. McCall stated, ‘Investors are strongly supportive of the strategy’.
ITVX now boasts over two million streams, indicating significant user engagement. The platform has garnered 12.5 million monthly active users, affirming the wisdom of content investments. The online content library has expanded from approximately two and a half to three thousand hours to an impressive nineteen thousand hours. When factoring in Britbox, the total content library reaches 26 thousand hours.
The substantial investment in major drama for ITVX has proven successful. McCall noted, ‘People come in for premieres’, resulting in a 93% increase in light viewers who stay to explore more content. For premieres, approximately 86% of viewers continue to browse and watch additional content.
In catering to younger audiences, ITV has broadened its offerings beyond Love Island, now featuring drama, US acquisitions, and increased content variety.
Discussing ITV Studios, the exec emphasized the company’s intent to expand its studios business. This expansion strategy encompasses both organic growth and acquisitions of production companies. McCall highlighted the successful backing of talent, citing instances of leading drama executives establishing their own labels within ITV, including notable names like Nicola Shindler and Dominic Treadwell-Collins.
With the return of Big Brother on the horizon, McCall identified the reality genre as an ongoing opportunity. ITV is actively working on projects like The Real Squid Games with Stephen Lambert under the ITV Studios label The Garden for Netflix, and Love Island Games from ITV Entertainment for Peacock. McCall said, ‘While some may argue the reality space is crowded, I don’t believe it is. These projects will find their audience’.
Addressing the diverse demographic that engages with reality programming, also remarked that it’s not exclusively for the young. ‘While Love Island‘s viewership skews heavily towards those under 30, most reality shows draw a broader age range. In the United States, Love Island resonates particularly well with middle-aged women. And as for shows like Big Brother, appealing to a wider demographic is essential’.
Regarding AI, McCall mentioned that ITV is in the midst of experimentation, trials, and tests of AI in production. The goal is to provide all creatives in the business with the tools to explore its potential. However, exec clarified that being at the forefront of AI is not the primary aim. She emphasized, ‘For me, it’s about getting everyone accustomed to it and not being apprehensive’.
A succesfull H1 for ITVX
After its launch past December 2022, the complete ITVX experience, encompassing all Premium content, is now accessible on over 22 diverse platforms, spanning smart TVs, mobile devices, consoles, and browsers, including, but not limited to, Amazon Fire, Android, Apple, Freesat, Freeview Play, LG and Samsung TVs, Sky, Virgin Media, and the recent introduction of ITVX on Sky Q boxes – marking a new platform for ITV.
‘We’re extremely satisfied with our progress thus far, yet remain mindful that there’s a continual pursuit to bring joy to our viewers and cater to our advertisers. In the realm of running a streaming service, there’s no definitive endpoint’, emphasized Rufus Radcliffe, Managing Director of Streaming, Interactive & Data at ITVX.
Most recently, live and FAST channels have been integrated into ITVX on LG devices via Freeview Play, extending access to live ITV content for an even wider audience.
The launch of the 10th series of Love Island past June, saw ITVX accumulate 9.2 million streams throughout the day, signifying a YoY surge of 112%. Building on the success of Series 9 earlier this year, Love Island has already amassed an impressive 182 million streams in 2023 alone.
The streamer boasts an extensive library of 20 thousand hours of commissioned and regional acquired and US series, standalone episodes, and films spanning all genres. From short-form to FAST channels, with exclusive releases each week, the diversity of content is resonating with viewers. In April, awareness of ITVX reached 85 percent among all adults and an impressive 90 percent among its targeted lighter viewers.
In the first quarter of 2023 alone, ITVX contributed to a remarkable 49% surge in streaming hours for ITV, with over a quarter of platform’s streaming hours attributed to viewers aged 16-34. Alongside Love Island, this demographic has been catching up on some brand classics through service, accounting for 25% of Broadchurch’s streaming hours, 35% of Bad Girls, and 37% of Footballers’ Wives. American box sets have also proven highly popular, with 47% of The O.C.’s streaming hours attributed to 16-34 year-olds, along with 52% of The Vampire Diaries and 59% of One Tree Hill.
On Easter Sunday of 2023, ITVX officially surpassed the one billion streams milestone, achieving this feat just over four months after the service’s launch on December 8th, 2022. Comparatively, 2022 stood as ITV‘s prior most successful year for streaming, taking nearly seven months to attain the one billion streams mark.Radcliffe, added, ‘much like proud new parents, we’re still measuring ITVX‘s age in months. Yet, it stands as a testament to the diligent efforts of the team, as well as ITVX‘s wide-reaching presence across various platforms and devices, coupled with the caliber and scale of our content, that we’ve accomplished so much in a relatively brief span of time’.
