The coronavirus pandemic has ravaged the global entertainment business, and the crisis poses an unprecedented challenge to all parts of the film and television industries. European countries have been among the fastest to respond by introducing measures to help employees and companies hit by COVID-19 and the financial damage inflicted by lockdown regulations.
Coronavirus Hits ITV as Programming Budget Cut by $116 Million
23.03.2020 - 11:39 / variety.com
U.K. broadcaster ITV is reducing its program budget by £100 million ($116 million) in the wake of restrictions imposed by the coronavirus pandemic.
In a trading update on Monday, ITV said: “This reflects savings from sport including the postponement of Euro 2020, the late delivery of commissioned programming and active decisions to reduce our spend.”
The company has taken steps to reduce discretionary spending by $23 million in 2020, in addition to a $11.6 million savings planned for the year.
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