Advertising recession ‘highly probable’ as coronavirus hits key media owners March 30, 2020 An advertising recession in the first half of 2020 is now highly probable as brands slash spending due to the coronavirus outbreak, according to a new report. Industry body Warc today warned that the advertising industry was all but certain to follow the wider global economy and fall into a recession sparked by the pandemic. [...]
Sharing fake news about coronavirus should be an offence, says top Tory MP March 30, 2020 Sharing fake news related to the coronavirus outbreak on social media should be an offence, a top Tory MP said today. Damian Collins, former chair of the Digital, Culture, Media and Sport (DCMS) Select Committee, called for sanctions against organisations and individuals that were “maliciously, deliberately, and at scale pushing disinformation through social media networks”. [...]
UK Music appoints former Labour MP Tom Watson as chair March 30, 2020 UK Music today said it has appointed former Labour party deputy leader Tom Watson as its new chairman. Watson, who also served as shadow culture secretary during his two-decade stint in parliament, said his priority would be to secure support for the music industry during the coronavirus crisis and help steer the sector back to [...]
Facebook unveils $100m support package for news industry March 30, 2020 Facebook today said it will invest $100m (£80.6m) to support the news industry as the coronavirus crisis decimates advertising revenue. The social media firm said $25m will be given as emergency grant funding for local news through the Facebook Journalism Project, while $75m will be granted as additional marketing spend for news organisations around the [...]
Hipgnosis secures music catalogue of Bon Jovi songwriter March 30, 2020 Music royalties investment firm Hipgnosis today said it has bagged the rights to the complete catalogue of Bon Jovi lead guitarist and songwriter Richie Sambora. The London-listed company said it has acquired all 186 songs inked by Sambora, who was inducted into the Rock and Roll Hall of Fame in 2018 alongside Jon Bon Jovi. [...]
Huawei partners with Discover Film to embed streaming service on devices March 27, 2020 Huawei has signed a deal with Discover Film to embed the streaming service’s app in 100m mobile devices worldwide. The tie-up means the streaming platform will be pre-loaded onto Huawei Video alongside a selection of other video providers such as the BBC and Rakuten TV. Discover Film, which describes itself as the “Netflix for short [...]
Mirror publisher Reach warns on coronavirus advertising impact March 26, 2020 Daily Mirror publisher Reach today said it expected advertising revenue and print circulation to be hit during the coronavirus outbreak. The media group, which also publishes the Daily Express, said advertisers would defer campaigns, while circulation would be impacted both by social distancing measures and store closures. The firm also warned that its events division, [...]
MPs call for public help amid crackdown on coronavirus misinformation March 26, 2020 MPs have urged members of the public to flag up examples of fake news on social media as authorities struggle to stamp out misleading information about coronavirus. The Digital, Culture, Media and Sport (DCMS) Select Committee today warned that much of the misinformation relating to the pandemic was being spread through private channels, meaning the [...]
STV scraps dividend as coronavirus hits advertising and production March 26, 2020 STV today scrapped its dividend as the broadcaster warned the coronavirus outbreak would impact its advertising revenue and production plans. STV, which holds the channel 3 licence in Scotland, said the downturn in advertising meant its full-year target of single digit revenue growth would now be “challenging”. The broadcaster said its production division had also [...]
Daily Mail owner DMGT predicts coronavirus financial hit as circulation falls March 26, 2020 Daily Mail owner DMGT has warned the coronavirus outbreak will adversely affect business as circulation fell in 2020. The media group said coronavirus has led to limited impact on performance to date. But DMGT has started to see the effects in its events and exhibitions and consumer media businesses. DMGT said financial performance for the [...]