Broadcasting giant ITV has revealed a 16 per cent fall in revenues from its production arm after taking a hit from last year’s US writers’ and actors’ strike.
The group behind the hit shows Mr Bates Vs The Post Office and Love Island said ITV Studios’ revenues tumbled to £382m in the three months to March 31 from £457m a year earlier. ITV warned it also expects to see Studios’ revenues fall again over the second quarter after the strike action – one of the longest in the industry’s history – brought productions to a halt in 2023, sending shockwaves across Hollywood and globally.
'We have a strong pipeline of programmes, good demand for our quality content as we increasingly diversify our customer base towards streamers and the phasing of deliveries is heavily weighted to the second half of the year, including Hells Kitchen US, The Better Sister, A.C.A.B, Showtrial and Ludwig.
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