ITV cuts £30m costs as ad revenue slumps amid Sky deal probe

Summarised from 4 outlets · 5 reports · Updated 11 Nov, 16:49 · Archive

ITV has announced £30m in cost savings after advertising revenue fell eight per cent in the third quarter, worse than its previous forecast of a five per cent decline. The broadcaster now expects advertising revenue to fall between five and ten per cent in the final quarter of the year, bringing the full-year decline to between two and three per cent.

ITV attributed the advertising downturn to economic uncertainty, competition from global streaming platforms and restrictions on junk food advertising introduced last year. The cost-cutting measures include £25m in content savings, such as delaying the airing of some programming into 2027, and £5m in other discretionary spending. ITV confirmed that jobs would not be affected by the reductions.

Chief executive Dame Carolyn McCall said the group was taking 'decisive action' to offset the weaker market. ITV produces shows including I'm A Celebrity… Get Me Out Of Here! and Love Island. The media and entertainment division that is being sold to Sky recorded a one per cent revenue decline to £1.43bn in the nine months to September.

Meanwhile, ITV Studios, which will remain independently listed following the sale, reported a one per cent revenue decline to £1.33bn, although McCall said it was on track for full-year growth. Group revenue slipped one per cent to £2.76bn in the nine months to September.

The cost-cutting announcement comes after culture secretary Lisa Nandy ordered regulators to investigate Sky's £1.6bn acquisition of ITV's broadcasting and streaming operations. The Competition and Markets Authority and Ofcom have been asked to report back by 27 January on competition and media public interest considerations respectively. ITV said the sale remained on track to complete in the second half of 2027.

How it is being reported

• ITV to cut costs by £30m amid falling advertising salesAd revenue slowdown forces company to reduce spending on content by £25m before inquiry into takeover by Sky Business live – latest updates 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. Continue reading...The Guardian · 11 Nov, 12:13
• ITV cutting costs by £30m as ad market weakensTotal advertising revenues fell by 8% in the third quarter and they could fall by up to 10% in the final three months of 2026, the broadcaster said.Evening Standard · 11 Nov, 10:37
• ITV to slash costs by £30m ahead of Sky takeover deal probeThe group – which agreed a £1.6 billion deal in July to sell its media and entertainment division to Sky – reported an 8 per cent drop in overall advertising revenuesIndependent Business · 11 Nov, 08:45
• ITV cutting costs by £30m as ad market weakensTotal advertising revenues fell by 8% in the third quarter and they could fall by up to 10% in the final three months of 2026, the broadcaster said.Evening Standard · 11 Nov, 08:01
• ITV ad slump deepens amid £1.6bn Sky deal probeITV has warned of a sharper-than-expected slump in advertising revenue and announced £30m in fresh cost savings, as its £1.6bn sale to Sky faces a government investigation. The FTSE 250 broadcaster said on Wednesday that advertising revenue fell eight per cent in the third quarter, worse than its previous forecast of a five per cent [...]City AM · 11 Nov, 07:27

In this story: ITV · Sky · Dame Carolyn McCall · Lisa Nandy · Competition and Markets Authority · Ofcom

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