U.Ok. TV giantITV, led by CEO Carolyn McCall, is planning 35 million ($46 million) in “momentary,” or “one-off,” value financial savings amid “softer” promoting demand within the fourth quarter. The information got here Thursday as the corporate reported the most recent income for its ITV Studios manufacturing arm and promoting enterprise.
Third-quarter income got here in unchanged from the year-ago interval, higher than forecast. That leaves nine-month advert income down 5 p.c 12 months up to now. The corporate had beforehand forecast that its complete advert income would are available in “marginally down” within the third quarter, “in comparison with the identical interval in 2024, reflecting the powerful comparative from the ultimate knockout matches of the Males’s Euros in July 2024.” Nonetheless, the agency had additionally predicted continued “robust progress in digital promoting revenues.”
However the present fourth quarter is filled with uncertainty, with concern about what the late November price range by Prime Minister Keir Starmer’s Labour Celebration authorities could deliver. “The financial outlook within the U.Ok. stays unsure, with widespread warning being exercised throughout enterprise sectors forward of the price range in November,” ITV highlighted on Thursday. “That is impacting demand for promoting all through the trade within the fourth quarter, with ITV complete promoting income (TAR) anticipated to be down round 9 p.c within the quarter.” That would depart full-year 2025 advert income down 6 p.c.
“In response to this present discount in promoting demand, we now have recognized £35 million of further momentary financial savings in [our] Media & Leisure (M&E) [segment] within the fourth quarter,” ITV stated. “These financial savings align our M&E value base – significantly content material and discretionary spend – with the softer promoting demand we’re seeing within the fourth quarter and can largely offset the anticipated discount in complete promoting income.”
The cuts will embrace £20 million ($26 million) in content material financial savings, “as we transfer some programming into 2026, which shall be financed out of the present 2026 content material spending plans,” ITV stated. “The whole content material price range for 2025 is predicted to be round £1.21 billion ($1.58 billion).” In July, ITV had lowered its full-year 2025 complete content material spend estimate to round £1.23 billion ($1.67 billion), in comparison with the beforehand indicated £1.25 billion ($1.70 billion), “as we proceed to optimize our content material spend to finest mirror viewer dynamics.”
ITV on Thursday additionally talked about £15 million ($20 million) of non-content financial savings, primarily from diminished discretionary spend reflecting the decrease demand surroundings and diminished advertising and marketing spend aligned with the adjusted content material slate, and advertising and marketing efficiencies.”
Whole ITV income grew 2 p.c to £2.80 billion ($3.66 billion) over the primary 9 months of 2025, pushed by an 11 p.c achieve at ITV Studios. Exterior income within the studios unit was up 20 p.c, “reflecting robust demand from, and the timing of applications for world streaming platforms.”
ITV Studios had recorded a income improve of three p.c for the primary six months of 2025. The manufacturing arm, which has been amuch-rumored takeover targetfor numerous attainable bidders within the trade, had again then additionally stated that “we stay on observe to ship our goal of complete natural income progress of 5 p.c on common every year from 2021 to 2026 – forward of the market.” But it surely had emphasised that 2025 outcomes could be weighed extra in direction of the second half of the 12 months.
ITV’s M&E unit income for the primary three quarters of 2025 fell 5 p.c, however digital was a powerful space, with digital promoting income up 15 p.c and complete digital income rising 13 p.c.“ITVX delivered good progress in viewing, with complete streaming hours up 14 p.c,” ITV stated.
“ITV has delivered a very good efficiency in a troublesome promoting market,” McCall stated on Thursday. “Our strategic initiatives proceed to progress nicely, and we stay assured in delivering good progress in ITV Studios income and digital income for the total 12 months. That is supported by laser-focused strategic value administration and underpinned by our resilient and extremely money generative linear broadcast enterprise.”
Thursday’s value financial savings information got here after ITV had in July unveiled an extra £15 million ($20 million) in everlasting non-content value financial savings, taking the whole group everlasting non-content financial savings in 2025 to £45 million ($61 million). CFO Chris Kennedy within the mid-year earnings name cited know-how and course of efficiencies as drivers of the most recent set of value reductions. “Everybody is absolutely centered on … rebalancing the associated fee base” to make sure continued enterprise success, he stated.