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2h ago

ITV Sets £35 Million Temporary Cuts as It Forecasts 9% Q4 Advertising Drop

Studios growth with rising digital viewing helps cushion pressure on broadcast advertising.

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The late timing of the budget has hit revenue from Christmas advertisers such as John Lewis

Overview

  • The company expects total advertising revenue to fall about 9% in the fourth quarter, leaving full-year ad revenue down roughly 6%.
  • ITV identified £35 million of temporary savings in Media & Entertainment, including about £20 million from moving some programming into 2026 and £15 million from lower discretionary and marketing spend.
  • Total revenue for the nine months to September rose 2% to £2.80 billion, driven by an 11% increase at ITV Studios, with external studio revenue up 20%.
  • Digital performance remained strong, with digital advertising up 15%, total digital revenue up 13%, and ITVX streaming hours up 14%.
  • Management cited a softening UK economy and caution before the late‑November Budget for weaker ad demand, and said no key shows or jobs are expected to be affected by the savings.