M&C Saatchi chair steps down as advertising firm unveils largest ever pre-tax profit of £31m January 24, 2023 Gareth Davis said he would not seek to be re-elected as chair of advertising giant M&C Saatchi. Davis made the announcement as the firm reported a nine per cent year-on-year increase in net revenue of £271m during 2022. M&C Saatchi also revealed it had made its largest ever profit, £31m, during 2022; the 14 per [...]
Avatar’s success gives boost to struggling cinemas but future is still uncertain January 23, 2023 The highly anticipated Avatar sequel has ranked as the sixth-highest grossing movie ever, giving cinemas a much needed boost, although some analysts warn they are not yet in the clear. After six weeks on the big screens, “Avatar: The Way of Water” surpassed a staggering £1.6bn ($2bn) in box office sales on Sunday, Disney estimates. [...]
Spotify’s revenue slow down will lead to 600 job losses, as tech giant becomes the latest to cull staff January 23, 2023 Spotify will be cutting its global workforce by nearly six per cent with around 600 people expected to lose their jobs. The music streaming platform has joined fellow tech giants including Amazon, Google, Meta and Twitter in laying off staff, with tens-of-thousands of workers being laid off in recent weeks. Last November Meta, the owner [...]
Podcaster Audioboom see revenues increase to £60m but advertising headwinds could mean future layoffs January 23, 2023 Podcast platform Audioboom today said it boosted its revenues to become America’s fourth largest publisher, but its boss has hinted at mass job layoffs. The company’s chief executive however hinted that job cuts could be on the horizon as vowed to control costs and “restructure” Audioboom’s sales team. The online distribution platform said its revenues [...]
Netflix drama: Chief executive Reed Hastings quits as big leadership shake up underway January 20, 2023 Netflix co-founder Reed Hastings has stepped down as chief executive but he is staying with the company as executive chairman. The American businessman said that Greg Peters will step up from COO to join Ted Sarandos as co-CEO of the company. Hastings said he is not ready to leave Netflix entirely but is taking more [...]
David Crosby dead at 81: Heartfelt tributes to legendary US musician who founded The Byrds January 19, 2023 US musician David Crosby, who co-founded two influential rock bands during his career, has died at the age of 81. The singer-songwriter rose to fame in LA-based folk-rock group The Byrds, who he joined in 1964 and collaborated on chart-topping hits including a cover of Bob Dylan’s Mr Tambourine Man and Turn! Turn! Turn!. Shortly [...]
Microsoft confirms it will cut 10,000 jobs January 18, 2023 Microsoft will be making 10,000 job cuts by the end of the third quarter of this year, the company said today confirming earlier reports. As incomes at Big Tech firms continue to decline, Microsoft has joined giants like Google and Twitter in laying off staff. Earlier today, Microsoft issued a statement, saying that the staff [...]
Smartphones are the new laptops with 60 per cent of UK firms now mobile only – BT January 16, 2023 Almost 60 per cent of business owners now rely solely on using mobile phones to run their operations, telecoms giant BT has revealed. The investigation by BT business showed more than half of entrepreneurs have embraced flexible working, and use mobiles rather than laptops or desktops. According to BT 59 per cent of British business [...]
Brits switch to social media for music as concerts go meta, says Brit Awards sponsor Mastercard January 16, 2023 Younger Brits are more likely to get their music recommendations from social media with TikTok and Instagram the most popular platforms. According to a new report by Mastercard 56 per cent of those aged 16-24 found their favourite music online. The report by the Brits Awards sponsor claims social media is overtaking physical concerts and [...]
Netflix: Guidance this week to show whether share price jump can continue January 15, 2023 Streaming giant Netflix’s share price has enjoyed a six-month recovery from summer lows and the Silicon Valley titan will give investors a sense of whether it is deserved when it updates markets on Thursday. Investors ditched the stock in numbers as the firm appeared to suggest it had reached a plateau on subscriber numbers in [...]