Advertising revenues plummeting at ITV amid hopes production arm won't be hit by Trump tariffs
ITV is facing a plunge in advertising – but does not expect its production arm to be hit by proposed US film tariffs.
The company expects revenues to tumble 14 per cent in its second quarter following a 2 per cent slide in the first three months of its financial year.
It blamed strong comparatives from a year earlier when trading was buoyed by the Euro 2024 football tournament.
And it is assessing the 'possibility of trade tariffs in the US', but thinks its ITV Studios business should not suffer a direct impact if Donald Trump imposes a 100 per cent levy on international films.
'ITV Studios only produces TV programming and therefore does not anticipate any direct impact from the imposition of tariffs on films,' it said.
Its ITV Studios division – producer of hits including Mr Bates vs The Post Office, Fool Me Once, starring Michelle Keegan for Netflix, and the Disney+ adaptation of Jilly Cooper's novel Rivals – notched up a 1 per cent rise in first-quarter revenues as it returned to growth after the impact of the 2023 US actors and writers strikes.
But total group revenue fell 1 per cent to £875million, piling pressure on chief executive Carolyn McCall as she battles to revive ITV.
She warned the 'macroeconomic environment is uncertain' as the shares fell 1.3 per cent, or 1p, to 78p.
They are down around 70 per cent in the past decade.
ITV has held talks about merging the Studios arm with All3Media to create a company worth more than £3billion.
All3Media is owned by the Abu Dhabi-backed investment group Redbird IMI, and its production hits include TV show The Traitors.
Banijay, the French group behind Big Brother, is also exploring a takeover of the Studios arm or the entire ITV group.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times
31 minutes ago
- Times
Business live: US and China reach deal to restore trade truce
Inditex, the owner of Zara, has reported worse-than-expected first-quarter revenue and a slower start to its summer sales. Revenue in the three months to the end of April was €8.27 billion, below analysts' forecasts of €8.36 billion. Inditex said revenue had risen 6 per cent at the start of the second quarter, compared to 12 per cent growth over the same period a year ago. The board of Assura, a real estate investment trust which is one of the NHS's biggest landlords, is recommending shareholders accept a 'final' offer from KKR and Stonepeak, the American private equity firms, following a contested takeover battle for the group. The consortium has raised its offer for the company to nearly £1.7 billion, or 52.1p a share, outbidding rival suitor Primary Health Properties. Assura owns hundreds of doctors' surgeries around the UK. Bid interest has lifted the shares 24 per cent over the past year to 49p last night. US and Chinese officials have agreed on a framework to put their trade truce back on track and remove China's export restrictions on rare earth metals and some of the recent US export restrictions. However, market reaction in Asia was muted as there was little detail after the two days of talks concluded around midnight in London. Tokyo's Nikkei 225 and China's SSE Composite were both up around 0.6 per cent. US commerce secretary Howard Lutnick said: 'The idea is we're going to go back and speak to President Trump and make sure he approves it. They're going to go back and speak to President Xi and make sure he approves it, and if that is approved, we will then implement the framework.' • Entrepreneur Davina Schonle was left feeling 'humiliated' after she and her eight-month-old baby were refused admission to London Tech Week, a gathering of global technology leaders taking place at London's Olympia.• AstraZeneca has been accused of 'turning a blind eye' to the Chinese government and putting 'profits before people' as it invests billions in the country amid the long-running detention of a key executive.• A battle between listed technology company Big Technologies and its former chief executive has escalated as it suspended the voting rights of shareholders holding 17 per cent of its stock.• Britain's listing rulebook is not to blame for the shrinking of the London stock market, Nikhil Rathi, chief executive of the Financial Conduct Authority, told MPs.
The Independent
33 minutes ago
- The Independent
Government urged to disrupt ‘addictive grip' of smartphones on children's lives
The Government is being urged to create child-friendly playful neighbourhoods and disrupt the 'addictive grip' of smartphones on children's lives. Closures of playgrounds, busier roads, shortened school break times and the dominance of screentime have restricted children's opportunities to play, a report has suggested. Urgent action is needed to create more opportunities for children to play outdoors and away from digital devices and social media, according to a report by the Raising the Nation Play Commission inquiry. It warned: 'Too many of our children are spending their most precious years sedentary, doomscrolling on their phones and often alone, while their health and wellbeing deteriorates.' The commission was chaired by Paul Lindley, founder of organic baby food manufacturer Ella's Kitchen, in partnership with the Centre for Young Lives think tank, which was co-founded by the former children's commissioner for England Baroness Anne Longfield. It has called on the Government to establish a National Play Strategy for England, backed by an annual £125 million investment and led by a 'minister for play'. The strategy should include a commitment to a 'step-change' in the quantity and quality of children's use of digital devices through stronger regulation, public engagement and information, and addressing addictive 'push' factors that have driven children online, the report added. The inquiry has called on the Government to raise the digital age of consent to 16 and introduce a ban on smartphones in schools during the school day. It added that it should become easier for parents to organise 'safe play' in their streets, and there should be a national ban on 'No Ball Games' signs. A poll of 2,000 parents in England, commissioned by the inquiry, suggested that 55% of parents believe their youngest child plays outside less than they did when they were children. Around three in four (76%) parents agree that people are generally less accepting of children playing outside on the street than when they were a child, according to the poll. The Raising the Nation Play Commission brought together 19 expert commissioners to conduct a year-long inquiry into how play can be restored to every childhood in England. Lady Longfield, executive chairwoman of the Centre for Young Lives, said: 'Too many of our children are spending their most precious years sedentary, doomscrolling on their phones and often alone, while their health and wellbeing deteriorates. 'It is no coincidence that the least happy generation, the generation with the highest rates of obesity and rising ill health, is the generation that plays less and less. 'As we have heard from a swathe of experts and professionals working with children over the last year, play is being squeezed out of childhoods, with drastic implications for children, our economy and public services. 'With so much at stake children really have everything to play for: their health, wellbeing, happiness, learning, and development depends on our ability to reignite the role of play. 'This report provides a blueprint for how we can get children playing again and also tackle the scourge of addictive doomscrolling, so we can prevent future generations from becoming glued to screens.' Technology Secretary Pete Kyle has indicated he is considering an 'app cap' for children. On Sunday, the minister signalled he was looking at measures to restrict the amount of time children spend on their phones, including through a possible 10pm curfew. Mr Lindley, chairman of the Raising the Nation Play Commission, said: 'Creating truly playful communities is not just about better street design, traffic management, and reduced crime, but also about a reversal of the growing culture of intolerance towards children playing. 'This will also encourage more parents to have confidence they can let their children play out more freely, in the knowledge that their children will be both having a great time and are also safe. 'We need to give our children back the time, space, opportunity, freedom – and the right – to play again.' A Government spokesperson said: 'We recognise the vital importance of play and access to nature as part of children's development and wellbeing as we strive to create the healthiest and happiest generation of children ever. 'Through our Plan for Change, we are setting young people up to achieve and thrive – both inside and outside the classroom. 'We have given hundreds of thousands of children the tools to turn their grey school spaces green as part of our National Education Nature Park, we are opening up grassroots sports to all with £100 million investment in facilities and we are working with experts to develop a framework to improve access to activities outside of school. 'Schools already have the power to completely ban phones in the classroom and the overwhelming majority – 99.8% of primary schools and 90% of secondary schools – limit or restrict use. 'And from July, new rules under the Online Safety Act will require social media platforms to protect children in the UK from seeing harmful content online.'
Reuters
35 minutes ago
- Reuters
AirAsia close to buying at least 100 Airbus jets in shift to A220, sources say
PARIS, June 11 (Reuters) - AirAsia ( opens new tab is in advanced discussions to place an order for at least 100 Airbus ( opens new tab jets at next week's Paris Airshow, a deal likely to mark the introduction to its fleet of the planemaker's smallest jet, the A220, industry sources said. AirAsia and Airbus declined to comment.
