ITV set for ad sales fall but does not expect hit from Trump film tariff threat
The group said it was still assessing the 'possibility of trade tariffs in the US', but added that its ITV Studios business should not suffer a direct impact if Mr Trump went ahead with his threat to impose a 100% tariff on international films.
'ITV Studios only produces TV programming and therefore do not anticipate any direct impact from the imposition of tariffs on films,' according to the group.
It said it expects total ad revenues to slump by 14% in the second quarter as it comes up against strong comparatives from a year ago, when trading was buoyed by the men's Euros.
The group's trading update also showed ad revenues dropped 2% in the first three months of the year.
But its ITV Studios division notched up a 1% rise in first quarter revenues as it returned to growth following the impact of the 2023 US actors and writers strikes.
Growth in the production business was held back by the ending of the Saturday Night Takeaway and The Tower programmes, with internal revenues down 26%.
Carolyn McCall, ITV chief executive, said: 'While the macroeconomic environment is uncertain, we remain confident that our strategic initiatives, our focus on financial and cost discipline and our diversified revenue and customer base will enable us to successfully navigate an evolving market landscape.'
She added that the group was 'continuing to make good progress in implementing our cost and efficiency programme', with £30 million of non-content cuts expected over 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Herald Scotland
27 minutes ago
- The Herald Scotland
Oil prices soar after Israel launches strikes on Iran's capital
London's FTSE 100 Index dropped 0.6%, down 56 points to 8828.6, in early morning trading on Thursday after heavy overnight losses on Asian stock markets as the worries spooked investors. The strikes by Israel on Iran's capital Tehran early on Friday are said to be the most significant attack the country has faced since its 1980s war with Iraq and have led to concerns over an all-out conflict between the two Middle Eastern countries. In Washington, the Trump administration said it had not been involved in the attack and warned Iran not to retaliate against US interests or personnel. It threatens disruption to the supply of crude from the Middle East while some traders flagged concerns it could also impact the flow of liquified natural gas (LNG) if tensions escalate. Rising oil prices could threaten to push up inflation in the UK, possibly impacting the outlook for further interest rate cuts. The Bank of England has been cutting rates but, as inflation strays further from the 2% target, it has less leeway to bring down borrowing costs. Derren Nathan, head of equity research at Hargreaves Lansdown, said: 'It's not just the outlook for Iranian exports that's a concern but also the potential for disruption to shipping in the Persian Gulf's Strait of Hormuz, a key route for about 20% of global oil flows and an even higher proportion of liquified natural gas haulage.' He added: 'The escalation of military action adds another factor to consider for central bankers in an already complex world as they weigh up the inflationary impact of ever-changing tariff rates and a weakening outlook for jobs and growth.' On the London market, oil giants BP and Shell were among the biggest risers on the steep gains in the cost of crude, with shares up 2% for both firms. Aerospace giant BAE Systems was also moving higher as the threat of a full-scale war in the Middle East put defence stocks back in the spotlight, with the stock up 3%. But London-listed airlines were down sharply, hit by a double whammy as rising oil prices spell higher fuel costs for the sector and following the devastating air crash in India. British Airways owner International Consolidated Airlines fell more than 4% and easyJet was just under 4% lower in morning trading.
Daily Mirror
28 minutes ago
- Daily Mirror
6 wild and unexpected Donald Trump moments as judge rules he acted illegally
The Trump administration was last night scrambling to come up with a position in response to Israel's pre-emptive strikes on Iran. The attack is likely to be problematic for Trump, who has been seeking a deal with Iran to prevent them working on a nuclear weapon. Whether it was part of the calculus that led to the strikes or not, it's likely Israel's action will scupper those talks for now. Trump plans to meet with top security officials in the Situation Room at the White House at around 4pm UK time. Which means it will have been 15 hours since the attack took place by the time the President is fully briefed on it. Where is he? Meanwhile, a judge has predictably ruled Trump overstepped by sending the National Guard to LA. And Pete Hegseth basically confirmed plans have been drawn up to invade Greenland. Everything is fine. Here's what you need to know. Late last night a federal judge ruled Trump had acted improperly in deploying the National Guard to try and quell largely peaceful protests in Los Angeles. Following a request from Governor Gavin Newsom, Judge Charles R Breyer agreed to block the deployment, ruling he had both exceeded the scope of his authority and violated the Tenth Amendment - which guarantees rights not reserved by the Federal Government revert to the States. "He must therefore return control of the California National Guard to the Governor of the State of California forthwith," the judge wrote. He added: "We're talking about the president exercising his authority, and the president is of course limited in that authority. That's the difference between a constitutional government and King George." Oh yeah he went there. The White House immediately appealed, and was granted a stay of Judge Breyer's order until Tuesday. Trump's weird World War II riff took a bizarre additional swerve. "Russia fought with us in World War II," he said. "And everybody hates them. "And Germany and Japan, they're fine, someday somebody will explain a strange world." I'm not sure it's going to take all that much explaining to be honest, Mr President. Mike Turner, a Republican Congressman, tried to be helpful to Defence Secretary Pete Hegseth, giving him an easy out on the question of whether the United States was planning to invade the sovereign territory of a NATO ally by force, in breach of all manner of international laws. "I just want to help you out," he said at a congressional committee hearing. "Because people will try to twist your words. You are not confirming in your testimony today that at the Pentagon there are plans for invading and taking by force Greenland, correct? That is not your testimony today..." Hegseth replied, and didn't grab hold of the lifeline he was being offered. "All my testimony is is that the Pentagon has plans for any number of contingencies," he said. Turner tried again: "It is not your testimony today that there are plans at the Pentagon for taking by force Because I sure as hell hope that is not your testimony." Hegseth replied: "We look forward to working with Greenland to ensure that it is secured from any potential threats." That, readers, is not a no. Senator Alex Padilla, a Democrat from California, was forcibly removed from a press conference by Homeland Security Secretary Kristi Noem in his home state. Footage of the incident shows security pushing him out of the room, ordering him to put his hands up. And further video posted online show officers manhandling him to the floor and handcuffed in the corridor outside. (For UK readers, even in America it's almost unheard of for a sitting, elected Senator to be physically detained, and presumably arrested). Senator Padilla told onlookers he had "questions" for Noem - presumably related to the deployment of military personnel to his state. Noem later claimed he'd "lunged" toward the podium, that he didn't identify himself, and that nobody knew who he was. The first words he said to her, as captured on video, were: "I'm Senator Alex Padilla". As tension between the White House and Europe heats up, the Mirror has launched its very own US Politics WhatsApp community where you'll get all the latest news from across the pond. We'll send you the latest breaking updates and exclusives all directly to your phone. Users must download or already have WhatsApp on their phones to join in. All you have to do to join is , select 'Join Chat' and you're in! We may also send you stories from other titles across the Reach group. We will also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose Exit group. If you're curious, you can read our . It seems someone has finally got through to Trump, and explained that if he deports every undocumented person in the US, Americans will starve and Las Vegas will collapse into the desert. In a spectacular u-turn, one which will cause Stephen Miller real physical pain, Trump indicated he might make exceptions to his mass deportations for nice undocumented people who work in farms and hotels. "You go into a farm and you look at people -- they've been there for 20, 25, years, and they've worked great, and the owner of the farm loves them, and everything else and then you're supposed to throw them out," he said. "We're going to have an order on that pretty soon, I think," he added. "We can't do that to our farmers and leisure too, hotels." Trump said on his Truth Social site that the waiting list is open for his $5m 'Trump card'. The card, it's claimed, will grant the buyer legal permanent residency in the US. The gold-colored card prominently features a drawing of the president with a bald eagle in front of him and the Statue of Liberty behind. It reads "United States of America" across the top, "The Trump Card" on the right side in bolder letters with stars around it, and Trump's signature above the $5 million figure. Follow our Mirror Politics account on Bluesky here. And follow our Mirror Politics team here - Lizzy Buchan, Mikey Smith, Kevin Maguire, Sophie Huskisson, Dave Burke and Ashley Cowburn. Be first to get the biggest bombshells and breaking news by joining our Politics WhatsApp group here. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you want to leave our community, you can check out any time you like. If you're curious, you can read our Privacy Notice. Or sign up here to the Mirror's Politics newsletter for all the best exclusives and opinions straight to your inbox. And listen to our exciting new political podcast The Division Bell, hosted by the Mirror and the Express every Thursday.
South Wales Guardian
29 minutes ago
- South Wales Guardian
Oil prices soar after Israel launches strikes on Iran's capital
The price of Brent crude jumped nearly 10% higher at one stage before easing back a little to stand 7% higher at 74 US dollars a barrel. London's FTSE 100 Index dropped 0.6%, down 56 points to 8828.6, in early morning trading on Thursday after heavy overnight losses on Asian stock markets as the worries spooked investors. The strikes by Israel on Iran's capital Tehran early on Friday are said to be the most significant attack the country has faced since its 1980s war with Iraq and have led to concerns over an all-out conflict between the two Middle Eastern countries. In Washington, the Trump administration said it had not been involved in the attack and warned Iran not to retaliate against US interests or personnel. It threatens disruption to the supply of crude from the Middle East while some traders flagged concerns it could also impact the flow of liquified natural gas (LNG) if tensions escalate. Rising oil prices could threaten to push up inflation in the UK, possibly impacting the outlook for further interest rate cuts. The Bank of England has been cutting rates but, as inflation strays further from the 2% target, it has less leeway to bring down borrowing costs. Derren Nathan, head of equity research at Hargreaves Lansdown, said: 'It's not just the outlook for Iranian exports that's a concern but also the potential for disruption to shipping in the Persian Gulf's Strait of Hormuz, a key route for about 20% of global oil flows and an even higher proportion of liquified natural gas haulage.' He added: 'The escalation of military action adds another factor to consider for central bankers in an already complex world as they weigh up the inflationary impact of ever-changing tariff rates and a weakening outlook for jobs and growth.' On the London market, oil giants BP and Shell were among the biggest risers on the steep gains in the cost of crude, with shares up 2% for both firms. Aerospace giant BAE Systems was also moving higher as the threat of a full-scale war in the Middle East put defence stocks back in the spotlight, with the stock up 3%. But London-listed airlines were down sharply, hit by a double whammy as rising oil prices spell higher fuel costs for the sector and following the devastating air crash in India. British Airways owner International Consolidated Airlines fell more than 4% and easyJet was just under 4% lower in morning trading.
