Audioboom posts record quarterly revenues as it cashes in on podcast boom April 3, 2019 Podcast platform Audioboom has posted a surge in quarterly profits as appetite for on-demand listening continues to grow. The London-listed firm saw its revenue rise 180 per cent year-on-year to $4.6m (£3.5m) in the three months to the end of March. Read more: BBC removes podcasts from rival Google service Audioboom said it has boosted [...]
Malaysia sells 1MDB-linked superyacht to casino operator for $126m April 3, 2019 The Malaysian government has sold a superyacht allegedly bought with money stolen from state fund 1MDB to casino firm Genting Malaysia Berhad for $126m (£95.6m). The 92m superyacht Equanimity is one of a number of assets allegedly bought by fugitive businessman Low Taek Jho with money embezzled from the fund, and the sale marks Malaysia’s [...]
Photo-Me issues profit warning as Brexit uncertainty takes its toll on orders April 3, 2019 Photobooth firm Photo-Me has warned its full-year profit will be lower than expected due to a slowdown in consumer activity amid Brexit uncertainty. The firm said it expects to snap up a pre-tax profit of £42m for the year to the end of April, slightly below its previous guidance of £44m, sending its shares down [...]
Fast rollout of 5G could add £16bn to the UK economy by 2025, says Barclays April 3, 2019 High-speed 5G mobile technology could add £15.7bn per year in business revenue to the UK economy by 2025, a new report has revealed. The figure would apply in an ‘optimistic scenario’, where the rollout of the new network is accelerated and met with fast uptake by businesses and consumers, according to research by Barclays Corporate [...]
Cinema websites crash amid rush for Avengers: Endgame tickets April 2, 2019 Cinema websites have ground to a halt after a rush of customers hoping to buy tickets for the new Avengers film brought servers to their knees. Odeon, Cineworld and Imax all suffered website outages due to the surge in demand, while Vue established a virtual queueing system that cited wait times of more than an [...]
Global music industry revenue grows 10 per cent as streaming booms April 2, 2019 Global music industry revenues grew almost 10 per cent last year as the rise in streaming services offset a decline in physical formats. Revenues grew 9.7 per cent in 2018 to hit $19.1bn (£14.7bn), according to the latest figures from the International Federation of the Phonographic Industry (IFPI). Read more: Music streaming revenues overtake ownership [...]
Digital advertising firm Teads posts revenue rise as it looks to fend off tech giants April 2, 2019 Digital advertising firm Teads has posted a 30 per cent jump in revenues for the full-year as it looks to win back market share from Facebook and Google. The media platform pulled in revenues of €365m (£314m) last year after extending its reach to 1.4bn global monthly users and more than 90 per cent of [...]
DCMS Committee launches new body to fight fake news as pressure on tech giants builds April 2, 2019 The Digital, Culture, Media and Sport (DCMS) Committee today said it has launched a dedicated division to tackle the ongoing threat of disinformation to democracy. The new sub-committee follows the DCMS Committee’s report into disinformation and fake news, which called for a new regulator to monitor tech giants such as Facebook and Google. Read more: [...]
UK risks ‘trashing relationship with Europe’ over Brexit, says Siemens boss April 2, 2019 Britain is at risk of ruining its “fabulous” relationship with Europe due to the crisis over its failure to secure a Brexit deal, the Siemens chief executive has said. Jurgen Maier, the UK boss of the German manufacturing giant, urged MPs to reach an agreement, warning of the impact on business if the UK crashes [...]
Channel 4 set to move into former nightclub building Majestic in Leeds April 2, 2019 Channel 4 is in advanced talks to move its national headquarters into the Majestic building in Leeds city centre. The broadcaster said it is in negotiations with real estate firm Rushbond to lease 25,000 square feet of office space over three floors in the former cinema and nightclub. Read more: Editor's Notes: Brexit: An Uncivil War [...]
