ITV will reduce content spending by £25m, largely by postponing small external commissions until 2027, along with another £5m in non-programming savings. Leadership confirmed that the interim plan will avoid staff layoffs, unlike competitors such as the BBC and Channel 4, which are both planning substantial workforce reductions. Meanwhile, ITV is navigating an antitrust and media plurality review by Ofcom and the Competition and Markets Authority regarding its proposed £1.6bn network sale to Sky.
Key points
Broadcast networks are facing systemic revenue declines driven by streaming rivals, macro…: Broadcast networks are facing systemic revenue declines driven by streaming rivals, macro pressures, and new limits on junk food advertising.
ITV is turning toward a pure-play production model by offloading its television and strea…: ITV is turning toward a pure-play production model by offloading its television and streaming operations to Sky by late 2027.
Unlike its terrestrial competitors who are eliminating thousands of roles, ITV is managin…: Unlike its terrestrial competitors who are eliminating thousands of roles, ITV is managing its revenue deficit without immediate job cuts.
Sources checked by our analysis pipeline: 1
ITV plans to cut costs by £30m this year, as the TV sector faces a chill wind of ditched commissions, falling advertising sales and job reductions.
The broadcaster, which has agreed to sell its television and streaming business to Sky, expects ad revenues in that division to fall between 5% and 10% in the crucial final quarter of the year, despite the typically busy Christmas season.
Ad sales are expected to drop between 2% and 3% over the course of the full year, ITV said.
The slowdown has pushed the company to make “temporary” savings, including £25m in content and £5m elsewhere in the business.
Content budget cuts will mostly affect small external commissions, pushing them into 2027, it is understood.
Carolyn McCall, the ITV chief executive, said demand for ads had weakened because of “continuing broader macroeconomic uncertainty” and “ increased digital advertising on global streaming platforms”. She also cited new rules this year that imposed a 9pm watershed on TV advertising for less healthy food.
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