ITV has announced a further £20 million in cost savings in 2024. £10 million represents a reduction in content costs and another £10 million from the early delivery of non-content savings planned for 2025.ITV Studios were impacted by the phasing of deliveries and the 2023 US writers’ and actors’ strike leaving revenue down 20% at £1,217 million. The division is a significant producer of content and not just for the ITV network itself. In Q4 it is expected to deliver The Better Sister for Amazon Prime Video and Hell’s Kitchen for Fox; Shetland for the BBC, Grace for ITV, Destination X for the BBC and NBC, and The Forsytes for PBS Masterpiece; and Internationally: Petra for Sky Italia and Gladiators for TF1.Over the full year, ITV Studios is expected to deliver record adjusted EBITA.ITVX continued to perform strongly with 14% growth in streaming hours and 15% growth in digital advertising revenue in the nine months to 30 September.Digital revenues grew 11% with strong growth in digital advertising revenue partly offset by the rationalisation of the UK version of Britbox into the ITVX premium offer.
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