STV swings to loss as advertising revenue slumps September 1, 2020 STV today posted a loss for the first half of the year as record audience figures failed to offset a sharp fall in ad revenue caused by coronavirus. The figures Revenue for the six months to the end of June dropped 19 per cent from £54.9m to £44.7m. STV’s Ebitda fell 40 per cent from [...]
New BBC boss promises ‘urgent reform’ amid pressure over funding September 1, 2020 The new director general of the BBC has promised to keep reforming the public service broadcaster “with urgency” as he faces a fierce debate over its funding model. Tim Davie, who took up the top job today, acknowledged that the corporation faced challenges, but insisted it remained relevant in the modern media landscape. “Overall my [...]
Exclusive: Sky to open first retail stores as it takes on high street rivals August 28, 2020 Sky is set to open its first ever brick-and-mortar retail stores in the UK as the broadcaster and telecoms giant defies faltering footfall to turn up the heat on its rivals. The media group is poised to open its first outlets in the coming months, providing a physical point of sale for its mobile, TV [...]
Frontier Developments shares jump as it unveils new video game launches August 28, 2020 Shares in Frontier Developments jumped this morning after the video game publisher said a string of new titles will help boost full-year revenue. The Aim-listed firm reported a “strong close” to the financial year, adding that sales across its portfolio of games had hit targets so far in the 2021 fiscal year. The Cambridge-based gaming [...]
A no-deal Brexit could cause the UK’s digital sector to shrink August 28, 2020 The EU’s trade negotiator Michel Barnier recently said that a post-Brexit deal seemed unlikely. This supports our view at Securys that the Brexit transition period will close without an adequacy agreement, bringing an end to the unrestricted flow of data between the UK and the European Economic Area (EEA). Buried in a weekend article came [...]
Tiktok ‘nears deal’ for sale of US operations after chief exec quits August 27, 2020 Short-form video app Tiktok is nearing a deal for its US operations, CNBC reported today, ahead of a potential ban in the country. The reports come just hours after chief executive Kevin Mayer quit his role at the firm, citing political pressure from the White House. According to the report, Mayer was initially going to [...]
Recruitment firm Hays fees drop amid dire jobs market August 27, 2020 Recruitment firm Hays reported a drop in its annual net fees as the jobs market readjusted to the coronavirus pandemic. The figures Hays reported that profit before tax plunged 49 per cent from £246.3m to £126.2m, while operating profit dropped 46 per cent to £135m. Group fees fell 11 per cent for the year as [...]
Gambling, alcohol and tobacco brands target children in age-restricted ads August 26, 2020 Children have been targeted by almost 160 gambling, alcohol and tobacco adverts which break advertising rules, according to the regulator. The Advertising Standards Authority (ASA) said it had found 159 adverts on 34 websites and five Youtube accounts aimed at children. Companies placing age-restricted ads online are required, under the Advertising Code, to target their [...]
Virtual live music business Melody VR buys Napster in $70m deal August 25, 2020 Virtual live music business Melody VR said today it has bought music streaming business Napster in a $70m (£53.8m) deal. Melody VR, which launched in 2018, uses virtual reality technology to allow music fans to experience gigs from artists such as Post Malone, Chainsmokers (pictured), Lewis Capaldi, Blake Shelton, Wiz Khalifa, Kelly Clarkson, Niall Horan, [...]
Tiktok sues Donald Trump over executive order banning video app August 24, 2020 Tiktok and parent company Bytedance have today sued US President Donald Trump over his decision to sign an executive order banning the short-form video app. In a blog post earlier today, the firm said that it had been left with “no choice” but to sue the president, adding that it strongly disagreed with the White [...]