ITV, a major U.K. television company led by CEO Carolyn McCall, is aiming to save $46 million in temporary cost cuts to counter a 9% decline in advertising demand in the fourth quarter. The company’s third-quarter revenue remained steady compared to last year, outperforming expectations, while ad revenue for the first nine months of the year dropped by 5%.

The company is adjusting its cost base to align with the softer advertising demand, with plans to save £35 million in the Media Entertainment segment. This includes £20 million in content savings by shifting some programming to 2026 and £15 million in non-content savings from reduced discretionary and marketing spending.

ITV’s total revenue increased by 2% to £2.80 billion over the first nine months of 2025, driven by a strong performance at ITV Studios, which saw an 11% growth. The studios unit experienced a 20% rise in external revenue, mainly due to high demand from global streaming platforms.

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