Why did Lush, Apple and Wetherspoons quit Twitter? May 13, 2019 Tapping into a dissatisfaction with social media, cosmetics firm Lush recently announced that it would move away from it, justifying its decision by drawing attention to the financial and ethical cost of using social media. The move marks Lush as the latest brand to take a new approach online. It’s a global brand, whose environmentally-conscious [...]
Hipgnosis snaps up rights to music catalogue of Eurythmics co-founder Dave Stewart May 10, 2019 Music royalties investment firm Hipgnosis has bought the rights to more than 1,000 songs written by Eurythmics co-founder Dave Stewart. Read more: One Media IP shares jump as streaming boosts profits The songwriter and record producer is best known as one half of pop group Eurythmics, which he formed in 1980 with eight-time Brit Award [...]
Social media firms to be judged on safety standards ahead of new laws May 8, 2019 Social media firms will be judged on their ability to protect their users before tough new legislation is introduced, the culture secretary has warned. Jeremy Wright today said firms need to take greater action to crack down on harmful material posted to their platforms now or risk a clampdown from a future regulator. Read more: [...]
ITV revenues slip ahead of Britbox launch as strain on advertising continues May 8, 2019 Shares in ITV fell more than five per cent after it posted a slip in revenues for the first quarter, as economic uncertainty and lower demand for advertising continue to take their toll. Read more: ITV and BBC announce online streaming service to rival Netflix The figures Total external revenue fell four per cent to [...]
Axel Springer profits plunge as it looks to refocus on classifieds business May 7, 2019 German media group Axel Springer has posted a sharp drop in first-quarter profits, as strong trading in its online classifieds business failed to offset a decline in news media. Read more: Virgin Media grows customer base amid superfast broadband rollout The figures Net profit dropped by 35 per cent to €55.4m (£47.4m) in the first [...]
The i newspaper could be sold as publisher JPIMedia considers auctioning assets May 4, 2019 The owners of JPIMedia, formerly Johnston Press, are considering auctioning off parts or all of the business, which owns titles including the i newspaper and The Scotsman, after purchasing the publisher just last year. The consortium of hedge funds that own the company are considering a strategic review that could see a number of its [...]
Evening Standard set to cut jobs as it merges print and online business May 3, 2019 The Evening Standard is to announce a string of job cuts as it looks to merge its print and online businesses. Read more: Mirror publisher Reach revenues slip amid pressure on print In an email to staff, editor George Osborne said the paper is making the cuts in a bid to counteract rising costs. “We [...]
Russian state broadcaster RT is a ‘weapon of disinformation’, says Jeremy Hunt May 2, 2019 Foreign secretary Jeremy Hunt has slammed Russian state broadcaster RT, describing it as the country’s “weapon of disinformation”. Addressing an audience in Ethiopia, Hunt launched a searing attack on the channel, formerly known as Russia Today, over its coverage of the Salisbury novichok poisonings last year. Read more: Mirror publisher Reach revenues slip amid pressure on [...]
Reach 4 Entertainment acquisitions boost share price despite dip in full-year revenues May 2, 2019 Shares in theatre marketing firm Reach 4 Entertainment (R4E) ticked up this morning, as investors overlooked a slip in the firm’s revenues for the full year. Read more: Gary Neville nets sale of stake in production company The figures R4E posted full-year revenues of £77.7m, down from £80.2m last year. Adjusted earnings before interest, tax, [...]
Mirror publisher Reach posts revenues slip ahead of shareholder showdown May 2, 2019 Mirror publisher Reach has posted a dip in revenue amid reduced demand for its print products, as it gears up for a showdown with investors over executive pay. Like-for-like revenue fell by 6.4 per cent in the first four months of the year, driven by a 7.9 per cent drop in print revenues. Read more: [...]