Software giant Adobe invests £63.5m in UK as creative sector booms November 29, 2018 Adobe will invest £63.5m in its UK operations and increase its workforce by over 20 per cent over the next three years, the company said today. The investment is the latest British expansion by the US-based software company, which has grown its UK workforce by 30 per cent in the last two years. The Department for [...]
Daily Mail owner posts 16 profit dip as online revenues overtake print advertising for first time November 29, 2018 The group that owns newspaper the Daily Mail said today its profit before tax fell 16 per cent in the last financial year sending shares sliding. The Daily Mail and General Trust (DMGT) said pre-tax profit had slipped 16 per cent to £182m in “challenging trading conditions”. In an illustration of the changing nature of [...]
UK creative industries smash £100bn barrier amid video game boom November 28, 2018 Britain’s creative industries contributed a record-breaking £101.5bn to the UK economy last year, new figures have revealed. Figures published by the Department for Digital, Culture, Media and Sport (DCMS) show Britain’s film, music and advertising industries grew almost twice as quickly as the UK economy in 2017. Since 2010 gross value added (GVA) from the [...]
Disney signs deal to move digital ad business to Google November 28, 2018 Disney has agreed to transfer its global digital advertising business to Google in a lucrative deal for the tech giant. The deal will see Disney move its entire digital video and display business for brands such as Pixar, Marvel and Star Wars to Google's Ad Manager platform. The agreement builds on an existing relationship between the two [...]
Ofcom boss calls on British broadcasters to create Netflix rival November 28, 2018 Public service broadcasters should work together to create a ‘Brit Player’ to rival Netflix, the head of Ofcom said today. Sharon White told the Outside the Box conference in London that broadcasters should pull together their on-demand services to create a platform offering popular British shows such as Broadchurch, Blue Planet and Bake Off in one [...]
Conde Nast chief executive Bob Sauerberg steps down amid restructuring November 27, 2018 Conde Nast chief executive Bob Sauerberg is stepping down as the publisher merges its US and international operations. Sauerberg, who has been at the media organisation for 18 years, will step down to pursue other opportunities, the company confirmed today. The news was first announced in an internal email from Conde Nast chairman and chief executive Jonathan Newhouse viewed [...]
The Economist chief executive Chris Stibbs steps down after flurry of senior departures November 27, 2018 The Economist’s chief executive is stepping down after more than five years in the job, the company confirmed today, following a number of senior departures this year. Chris Stibbs was appointed chief executive of the weekly news magazine in 2013 and has held leadership positions in the company since 2005. A spokesperson for the Economist [...]
Johnston Press administrator says creditors will face a ‘significant’ cash shortfall November 23, 2018 The administrator of struggling publishing company Johnston Press has said there will be “a significant shortfall” of money for creditors after being sold out of pre-pack administration last week. Alix Partners, the company’s administrators, warned in their first report that although funds would be available to secured bondholders and to unsecured creditors, there would still [...]
New magazines fuel Future’s profit jump after spending spree November 23, 2018 Future reported huge jumps in both profit and revenue in its full-year results today after a string of acquisitions breathed new life into the magazine publisher, sending shares up almost five per cent in early trading. The figures Group revenue grew by 48 per cent year on year to £124.6m for the 12 months to the [...]
Buzzfeed founder hints at media mega-merger as the publisher launches new membership scheme November 20, 2018 Buzzfeed’s chief executive has said he would consider a merger with other media organisations as the publisher launches a shake-up of its business model. Jonah Peretti, who co-founded the website in 2006, said on Monday a series of mergers between online media companies could be the answer to the current challenges faced by news organisations. [...]