ITV warns over challenging ad outlook as annual profits fall
Broadcaster ITV has revealed falling annual profits and warned over tumbling advertising revenues as wider economic woes impact marketing spend. The group behind hit shows Love Island and I’m A Celebrity… Get Me Out Of Here! reported underlying pre-tax profits of £672 million for 2022, down from £774 million in 2021, as total advertising revenues fell 1% and it spent heavily on content and its ITVX online hub. ITV cautioned