A slump in demand for TV productions has hit ITV’s studio division, the maker of shows including Love Island and Come Dine With Me, as traditional broadcasters pull budgets for new commissions in the face of the ad market drought.
The UK’s largest free-to-air broadcaster cut its fourth-quarter growth outlook for ITV Studios, which makes shows for its own channels as well as domestic and international broadcasters and streaming services, citing a slump in demand from free-to-air broadcasters who have been cutting costs.
