Hollywood Strikes Ripple Effect Continues as U.K. Broadcaster ITV Sees 8% Drop in Revenue

variety.com:

K.J. Yossman The effects of 2023’s dual actors and writers strikes are continuing to ripple through the industry globally. U.K.

public service broadcaster ITV, which broadcast shows this year including Sophie Turner-starrer “Joan” and “Mr Bates v the Post Office,” is the latest to fall victim, reporting an 8% drop in group revenue from £2.9 billion ($3.5 billion) to £2.7 billion ($ 3.8 billion) in its third quarter, which it partly blamed on the strikes affecting program schedules.

Revenue for its production arm, ITV Studios, was down 20% in Q3, from £1.5 billion £1.2 billion. According to the latest financial report, the strikes resulted in a delay of around £80 million of revenue from 2024 to 2025.

The report also said the drop was down to “lower demand from free-to-air broadcasters in Europe in the short term.” ITV, which is ad-funded, reported that advertising revenue was flat while Q4 is expected to be impacted by uncertainty in the market as the U.K.