The News Movement’s Lotte Jones on ITV’s Profit Plunge, the Evolution of TV and Retail Media Amidst the Recession 

In this episode of the MadTech Podcast, John Still is joined by Mariam Ahmad and Lotte Jones, CMO at The News Movement to discuss the latest in media and marketing. 

Through today’s stories we explore ITV’s plunging profits, how the TV landscape is evolving, and how the retail industry is faring in the face of the recession.  

ITV profits plunge by 60% amid brutal advertising downturn (The Guardian

ITV has recorded a sharp decline in annual profits. Pre-tax profits fell by 61% to £193m in 2023, against £501m in 2022, as a result of the drop in advertising revenue as well as the planned investment costs in its ITVX streaming service.

More than half of US video subscription revenues will go to streaming services next year (eMarketer)

A forecast by eMarketer expects over half of US video subscription revenues to go to streaming services by 2025. Traditional pay TV services are on the decline, and are set to be overtaken by OTT subscriptions for the first time. 

Retailers suffer longest dip in sales since Covid-19 lockdown (Retail Gazette)

Retailers are suffering the longest dip in sales since 2020, with consumers cutting back for the fifth consecutive month. Fashion was the most impacted category, with in-store sales decreasing by 8.2% last month, and overall sales falling by 4.8%.