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ITV Restructures Business: Pivots to On-Demand Focus & Plans to ‘Reduce Office Space’ in London

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variety.com
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Manori Ravindran International EditorU.K. commercial broadcaster ITV is restructuring its business as it struggles to weather the coronavirus pandemic, including a pivot to a VOD focus and potential move out of its London headquarters.Variety understands the company informed staff of its plans via an internal vodcast on Monday afternoon, noting that it is “resetting the business” and will more keenly focus on its digital strategy.

The broadcaster has been hard hit by the pandemic, revealing in August a 17% dip in both broadcast and production revenues to £824 million ($1.08 billion) and £630 million ($830 million), respectively.

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