ITV to cut £30m in costs as advertising revenue falls 8%
The broadcaster expects ad revenues to drop by up to 10% in the fourth quarter, but says the savings, mostly from content, will not affect jobs.
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The broadcaster expects ad revenues to drop by up to 10% in the fourth quarter, but says the savings, mostly from content, will not affect jobs.
The Guardian has reported that both channels could move off linear TV as the BBC looks to save £500m.
Chief executive Dave Lewis has cut ad spend to 16% of net sales, while industry observers warn that reduced on-trade investment could hurt the brands in the long run.
Outgoing director general Tim Davie told staff the corporation must find savings, while the union said cuts of this scale would harm the BBC.