ITV Cuts £30M From Media Division as Ad Revenue Falls
The savings include £25M from content spending, with ITV projecting a 2026 content budget of about £1.2B, according to Deadline.
ITV has identified £30M ($40M) in cost savings within its Media & Entertainment division in response to weaker advertising demand, according to Deadline. Of that total, £25M will come from content spending and £5M from discretionary non-content savings.
The broadcaster expects its total content budget for 2026 to land at around £1.2B. It also forecast total advertising revenue to fall 5-10% in the fourth quarter and 2-3% across the full year 2026.
For the first nine months of 2026, ITV reported total revenue of £2.7B, nearly flat year on year. Media & Entertainment revenue was roughly level at £1.4B, while ITV Studios revenue held stable at about £1.3B.
Streaming growth and the Sky review
ITVX, the company's streaming service, passed 2 billion minutes viewed, an increase of 29%. The figures arrive as ITV awaits regulatory scrutiny of Sky's £1.6B acquisition of the company; ITV said the UK Culture Secretary has tasked two UK regulators with probing the deal and expects it to complete in the second half of 2027.
In October 2025, Less Healthy Food regulations came into effect, which ITV cited as a factor in the ad market. The previous year, ITV set a similar cost-saving target amid a softening UK economy.
Quick answers
How much is ITV cutting in costs?
ITV has identified £30M ($40M) in savings in its Media & Entertainment division, including £25M from content spending and £5M from discretionary non-content savings.
When is Sky's acquisition of ITV expected to complete?
ITV expects the £1.6B deal to complete in the second half of 2027, with two UK regulators tasked by the Culture Secretary with probing it.
How did ITVX perform?
ITV's streaming service reached more than 2 billion minutes viewed, up 29%.