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 [...]
Tiger Global builds stake in Tiktok owner Bytedance March 30, 2020 Tiger Global Management is said to have built up a stake in Tiktok owner Bytedance as it looks to cash in on the growing popularity of the short-form video platform. The New York-based investment firm — also known as the Tiger Fund — revealed the stake in a letter to investors this week. Tiger Global [...]
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. [...]
Coronavirus: Government slams ‘breath holding’ advice amid fake news crackdown March 30, 2020 Specialist government units have been forced to rubbish claims that holding your breath for 10 seconds is a test for coronavirus amid a surge in misinformation about the pandemic. Number 10’s Rapid Response Unit identified the claim in posts circulating on Facebook and Whatsapp that claimed to come from a board member at Stanford Hospital. [...]
Coronavirus: Deliveroo to provide 500,000 free meals to NHS staff March 29, 2020 Deliveroo has pledged to deliver 500,000 free meals to NHS workers across the country as the UK gears up for the peak of the coronavirus outbreak. The delivery firm said it has begun providing meals to NHS trusts, while customers will be able to donate funds to buy food for doctors and nurses through its [...]
Culture in quarantine: Which UK venues have gone virtual during the coronavirus crisis? March 29, 2020 Since Prime Minister Boris Johnson last week ramped up social distancing measures to tackle the coronavirus outbreak, thousands of cultural institutions across the UK have been forced to close their doors. However, as millions of Brits hunker down at home, a range of arts and culture venues have launched new digital initiatives to ensure exhibitions [...]
Oneweb files for bankruptcy after Softbank funding talks fall through March 29, 2020 Space broadband firm Oneweb has filed for bankruptcy and laid off most of its staff after failing to drum up additional funding from investors including largest shareholder Softbank. The London-based startup, which was building a network of satellites to provide global broadband coverage, on Friday said it had filed for Chapter 11 bankruptcy protection in [...]