U.K. TV giantITVon Thursday reported lower revenue for the first nine months of the year amid advertising and production business challenges due to the coronavirus pandemic, but CEO Carolyn McCall highlighted "encouraging signs." Total external revenue atITV, led by, dropped 16 percent for the nine-month period to 2.17 billion pounds ($2.86 billion), with revenue at theITVStudios content production arm,whose hit shows includeLove Island, ending the period down 19 percent at 902 million pounds ($1.19 billion).
While the return of live sports has recently helped advertising, ad revenue for the third quarter ended in September was down 7 percent from the same period of 2019.
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