ITV sees ad revenues plunge 42% but outlines plans to restart filming

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>ITV has said demand for advertising plunged 42&percnt; in April as marketing spend ground to a halt amid the coronavirus crisis&period;<&sol;p>&NewLine;<p>The broadcasting giant said it saw a &OpenCurlyDoubleQuote;significant” hit to ad spend across most categories last month&comma; with the slide in revenues far worse than the 10&percnt; tumble it had initially expected&period;<&sol;p>&NewLine;<p><&excl;--Ads1--><&sol;p>&NewLine;<p>It also confirmed ITV Studios has had to pause most of its productions due to lockdowns worldwide and the group has furloughed around 800 staff – 15&percnt; of its UK workforce – mostly within its production arm&period;<&sol;p>&NewLine;<p>But the group is resuming production on some programmes&comma; with Loose Women starting filming this week and the first of the new Isolation Stories dramas aired on ITV since Monday&period;<&sol;p>&NewLine;<p>It has also resumed production in some international markets&comma; announcing that filming will begin again on The Chase and The Voice in Australia and The Chase in Germany&period;<&sol;p>&NewLine;<blockquote><p>We are now very focused on emerging from this crisis in a strong position<&sol;p><&sol;blockquote>&NewLine;<p>ITV said it was finalising details with others in the industry on how to return to production and is in talks with the Government on the plans&period;<&sol;p>&NewLine;<p>It is also planning a phased approach to office re-entry in consultation with external medical advisers for when the lockdown is eased&period;<&sol;p>&NewLine;<p><&excl;--Ads2--><&sol;p>&NewLine;<p>The group laid bare the scale of the sudden drop-off in ad spend&comma; with April’s plunge in total ad revenues coming after they rose 8&percnt; in February and remained flat in March&period;<&sol;p>&NewLine;<p>ITV said it cannot give any guidance for May or June&comma; given the uncertainty of the coronavirus situation&period;<&sol;p>&NewLine;<p>The group has launched plans to save around £60 million &lpar;€68&period;7m&rpar; this year to help offset the impact&comma; with a further £30 million announced in its latest trading update&period;<&sol;p>&NewLine;<p>Carolyn McCall&comma; ITV chief executive&comma; said&colon; &OpenCurlyDoubleQuote;ITV has taken swift and decisive action to manage and mitigate the impact of Covid-19 by focusing on our people and their safety&comma; and by continuing to reduce costs&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We are now very focused on emerging from this crisis in a strong position&comma; continuing to offer advertisers effective marketing opportunities and making preparations to restart productions safely&period;”<&sol;p>&NewLine;<p>Results for the first quarter to the end of March showed total external revenues fell 7&percnt; to £694 million&comma; &lpar;€795m&rpar; while turnover in its production arm ITV Studios was down 11&percnt; at £342 million &lpar;€392m&rpar; as social distancing restrictions came into force&period;<&sol;p>&NewLine;<p><&excl;--Ads3--><&sol;p>&NewLine;<p>Total advertising for the four months to the end of April was down 9&percnt;&period;<&sol;p>&NewLine;<p>But it said there have been some positives from the crisis as Britons have been forced to stay home amid the lockdown&comma; with good growth in take-up of free trial starts and subscriptions for its BritBox streaming service tie-up with the BBC&period;<&sol;p>&NewLine;<p>The group said it was also seeing good demand for ITV Studios’ library content of programmes internationally&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68cd34b133abe">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; window&period;tudeMappings &vert;&vert; &lbrack;&rsqb;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings&period;push&lpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;divId&colon; 'atatags-dynamic-belowpost-68cd34b133abe'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;format&colon; 'belowpost'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; document&period;readyState &equals;&equals;&equals; 'loading' &rpar; 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