ITV announces £30 million cost‑cut plan as ad revenue falls
The Guardian reported that ITV will seek £30 million in temporary savings after a slowdown in advertising revenue.
The Guardian reported that ITV will seek £30 million in temporary savings after a slowdown in advertising revenue. The broadcaster intends to trim its programming budget by £25 million, with the remaining £5 million to be cut from other parts of the business.
New figures cited by the outlet show that spending on the production of films and prestige TV shows in the UK has fallen by more than £2 billion over the past year. The cost‑saving measures come ahead of a potential Sky takeover inquiry, according to the report. ITV described the reductions as “temporary”.
Why it matters
The cuts show how falling ad revenue is forcing ITV to reduce content spending, which may impact UK television production.
Key details
- Location
- United Kingdom · Europe
- Reported by
- The Guardian
- First reported
- Key names
- ITV, Sky Business, TV, UK
- Section
- Business
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at The GuardianSpotted an error? Request a correction · How this summary was produced
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