ITV blames late Budget for delaying TV programmes
ITV set to make £35m cost savings and delay TV shows
- ITV, the broadcasting giant, announced plans to delay some programmes and implement cost cuts due to a significant decline in advertising revenue.
- The company anticipates a 9 per cent drop in total advertising income this quarter, attributing it to widespread business caution ahead of the UK Budget.
- An additional £35 million in "temporary" savings will be made, with £20 million from postponing certain programmes and £15 million from reducing marketing spend.
- ITV assured that no key programmes or jobs would be impacted by these cost-saving measures.
- Chief executive Carolyn McCall stated that a softening economy and increased uncertainty before the Budget are affecting the wider advertising market.