Q: What is ITV's latest cost-cutting move? A: Quiz show repeats

Yahoo

3 days ago

ITV is to ramp up its use of daytime repeats after the broadcaster reduced its programming budget in a fresh round of cost cuts.
The Love Island broadcaster said it expected to spend £1.23bn on shows this year – £20m below previous forecasts and less than in the last two years.
Bosses slashed spending by launching a new channel dedicated to repeats of quiz episodes, while moving reality shows such as Desperate Housewives and The Only Way is Essex from the now-defunct ITVBe channel to ITV2.
ITV has also saved money by ditching its strategy of launching major shows exclusively on streaming platform ITVX, with series now aired first on the terrestrial channel before being released online.
Kevin Lygo, ITV's programming boss, said: 'We're working the content a lot harder than we ever have before, and this is a very good way of getting to more viewers.'
In addition to the programming changes, ITV said it was ramping up its wider cost-cutting programme by a further £15m, taking its total savings for the year to £45m.
It comes after the channel unveiled plans to restructure its daytime TV schedule in a move that will lead to hundreds of job cuts.
The shake-up will see production of flagship breakfast show Good Morning Britain transferred from its in-house studios division to ITN, which also makes news programmes for Channel 4 and Channel 5.
As part of the overhaul, GMB will be extended, while Lorraine, This Morning and Loose Women will all have their airtime cut back.
ITV has said it will reinvest savings from these cuts, which are due to fall next year, back into other types of programming, such as big budget drama and sports.
The cutbacks underscore efforts by ITV to slim down its business and refocus on its digital offering amid fierce competition from streaming rivals such as Netflix and Amazon.
The broadcaster's adjusted profits slumped by almost a third to £146m in the first half of the year, which it blamed on a spike in ad revenues in the same period last year after the Euros football tournament.
Total advertising revenues were down 7pc, though this was a smaller drop than forecast, and the impact was largely offset by growth in the group's production division.
ITV Studios remains a bright spot for the company, with revenues up 3pc to £893m as it cashed in on demand for its shows from streaming services, including the second series of Rivals for Disney+ and an upcoming Gomorrah prequel, which will air on Sky.
This demand was offset by a decline in revenues for internal commissions due to a lack of major ITV hits such as Saturday Night Takeaway, as well as an absence of sports production revenues from the Euros.
The success of ITV's production unit has made it a prime target for consolidation. All3Media, the production company behind The Traitors, and French rival Banijay are among the reported suitors in a potential deal that could either see the broadcaster broken up or sold entirely.
Dame Carolyn McCall, the ITV chief executive, declined to comment on takeover speculation but said: 'In this whole sector everyone is talking to everyone, and we'll keep all options under review.'
ITV said it had also seen strong growth for ITVX, with digital advertising revenues up 12pc on last year. The channel struck a deal with Disney+ this month to share programming across the two companies' streaming platforms in a move aimed at reaching younger audiences.
Dame Carolyn said the company would seek out more partnerships with both streaming services and other public service broadcasters in the future.
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