ITV’s streaming platform ITVX paid back its entire investment four years early – Now it’s going after Netflix
ITV’s streaming platform ITVX has fully recouped its entire investment in the service four years ahead of schedule.
Launched in 2022 as an upgraded, rebranded version of the ITV Hub, ITVX has become the UK’s fastest-growing broadcaster video-on-demand (BVOD) platform.
In its full-year 2025 results released on 4 March, ITV revealed that the platform reached break-even two years earlier than planned, allowing the company to recover the cumulative investment four years sooner than originally projected.
This rapid payback stems from strong performance in digital advertising and viewing growth. Since launch, ITVX has delivered a 25% compound annual growth rate (CAGR) in total streaming hours and a 16% CAGR in digital advertising revenues.
In 2025, streaming hours rose 16% to 2,304 million, while digital advertising revenues increased 12% to £540 million. Monthly active users climbed 12% to 16.5 million.
“ITVX is successfully driving profitable growth in digital viewing and revenue… which has already recouped its entire investment, four years earlier than expected,” said CEO Carolyn McCall.
Advertising is key
The pivot to an advertiser-funded model has been key.
ITV doubled down on ad-supported streaming while deprioritizing subscription video-on-demand (SVOD), saving on incremental content and marketing costs.
This shift created a more resilient, focused, and profitable platform, even as subscription numbers dipped (UK subscribers fell 10% to 0.9 million, with subscription revenue flat at £48 million).
ITVX now competes in the £9.5 billion UK online video advertising segment, attracting new advertisers through tools like the Planet V addressable advertising platform (accessing over 40 million registered users and 20,000 targeting options).
The company has onboarded more than 1,500 new advertisers since Planet V’s launch and is simplifying ad buying for small and medium-sized enterprises (SMEs).
With the investment repaid early, ITV is positioning ITVX for aggressive expansion in the streaming wars. The platform benefits from exclusive rights to major events like the expanded Men’s Football World Cup and every England Men’s rugby match, combining broadcaster scale with targeted digital ads in a brand-safe environment.
ITV is also building partnerships to extend reach, including with YouTube (driving under-35 viewing), Disney+ (bringing select titles to linear ITV1 schedules), TikTok, and a forthcoming self-serve ad platform with Sky, Channel 4, and Comcast.
