ITV reports an 8% revenue drop to £2.74 billion, citing strikes and plans £20 million in cuts.

ITV, a prominent British broadcaster, reported an 8% drop in group revenue to £2.74 billion for the nine months ending September, largely due to a 20% decline in ITV Studios revenue linked to the Hollywood writers' and actors' strikes. To address these challenges, ITV plans to implement an additional £20 million in cost cuts, following a previous £40 million reduction. The company's shares fell by 7.4% as it anticipates delayed revenues of around £80 million into the next financial year.

November 07, 2024
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