Converted: London Jehovah’s Witnesses HQ to start new life as film studio July 27, 2021 The former headquarters of the UK Jehovah’s Witnesses in north London will be given a fresh start as a film and TV hub in a bid to tap into surging demand for studio space. Flexible workspace firm Purpose has snapped up the 200,000 square feet site in Mill Hill and plans to transform it into [...]
Indian social media ShareChat teeters on $3bn valuation after funding rally July 27, 2021 Indian social media platform ShareChat is teetering on a valuation of $3bn after its latest funding round pulled in $145m. It comes not even three months after the Bangalore-based startup bagged $502m in backing, which hoisted its valuation to $2.1bn. With a climbing value, ShareChat has managed to secure a cool $911m in funding over [...]
Mirror publisher Reach restores dividend amid digital push July 27, 2021 Newspaper publisher Reach today restored its dividend after strong growth in its digital offering helped drive the group’s recovery after a torrid pandemic year. Reach, which owns the Mirror and Express as well as a number of regional titles, posted a four per cent rise in revenue to £302.3m in the six months to 27 [...]
WPP pulls out of Facebook media agency review July 23, 2021 WPP, which currently handles Facebook’s lucrative media planning and buying account, has pulled out of the social media’s agency review. GroupM, WPP’s media investment management division, has opted not to compete to retain the account, leaving rivals Dentsu, Havas and Publicis Groupe vying for the contract. Facebook’s media buying account is highly sought-after, reportedly covering [...]
MPs warn of ‘huge financial losses’ as scam ads left out of online safety laws July 23, 2021 A string of cross-party MPs have blasted the government’s failure to include paid-for adverts in its upcoming online safety laws, warning of “huge financial losses” to the public. In a joint letter to the prime minister, the Treasury Committee and the Work and Pensions Committee said fraudulent online ads were doing immense harm and urged [...]
Snap shares jump as it smashes user and revenue targets July 23, 2021 Shares in Snap have soared in after-hours trading after the social media group smashed forecasts for its user numbers and revenue in the second quarter. The California-based owner of Snapchat saw its shares jump more than 17 per cent after markets closed as it booked its highest growth rates since late 2017. Daily active users [...]
Screenshot: Have Bezos and Branson ushered in a new era of space tourism? July 23, 2021 This week **Media Moment of the Week: Badger, mushroom, snake **Have Bezos and Branson ushered in a space tourism boom? **No more chill for Netflix Media Moment of the Week: Badger, mushroom, snake Want to feel old? The iconic animated badger video (you know the one) is now almost 18 years old. Aside from lamenting [...]
Twitter beats revenue expectations after advertising revamp July 23, 2021 Twitter has reported better-than-expected revenue growth in its second quarter as the social media site reaped the rewards of an overhaul of its advertising service. The tech firm posted total revenue of $1.19bn in the three months to the end of June, up 74 per cent on the same period last year and ahead of [...]
Not too Priti: Home Office crackdown could see journalists muzzled July 22, 2021 Journalists and whistleblowers could face lengthy prison sentences for exposing information in the public interest under new proposals put forward by the government, industry leaders have warned. Under Priti Patel the Home Office has opened a consultation on planned changes to the Official Secrets Act that could see reporters treated like spies or those who [...]
Jewish Chronicle newspaper to compensate expelled Labour activist after false accusations July 22, 2021 A London-based Jewish newspaper has agreed to pay “substantial compensation” to an activist it falsely accused of being involved in a group planning to target Jewish people in the Labour Party. The Jewish Chronicle apologised to Marc Wadsworth on Thursday after it published an article in the newspaper and on its website in March wrongly [...]