ITV is moving to reduce its programming budget, implementing £30m in temporary savings as the broader UK television and film production sectors face a severe downturn. According to recent industry figures, total spending on UK film and high-end television production has fallen by more than £2bn over the past year.
Of the £30m in temporary cost-cutting measures announced by the broadcaster, £25m will be directed specifically at content savings, while the remaining £5m will be trimmed from elsewhere in the business. The financial adjustments coincide with a broader period of economic pressure, including declining advertising sales and an ongoing regulatory inquiry into a proposed takeover of the network by Sky.
