ITV has warned of a slump in advertising as firms cut marketing spend following warnings of Budget tax hikes.
Boss Carolyn McCall said there is evidence of a ‘softening economy’ as the broadcaster announced plans to delay some programmes into next year to save cash.
She said there was ‘increased uncertainty in the lead-up to the Budget’ which contributed to a ‘tough advertising market’.
The Budget on November 26 is later than usual and worries about tax hikes mean businesses are holding off on spending decisions.
Total advertising revenues are expected to plunge 9 per cent over the final three months of 2025, ITV said, dragging sales for the whole year down by 6 per cent.
ITV shares fell 1.2 per cent, or 0.8p to 67.6p, taking losses since late July to nearly 25 per cent.
Explosive: ITV, which makes the drama Trigger Point starring Vicky McClure (pictured), said Total advertising revenues are expected to plunge 9% over the final three months of 2025
AJ Bell investment director Russ Mould said: ‘Rachel Reeves can take the blame for ITV’s share price slipping on better-than-expected results, as far as the UK broadcast network is concerned.
‘Businesses are fed up with uncertainty around the Budget and the lack of clear guidance over whether taxes will go up.
This is having a negative impact on money spent internally, such as delaying decisions on hiring.’
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