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25 Mar 19: Tom Harrington appeared on BBC World News to discuss Apple

Tom Harrington appeared on BBC World News to discuss the launch of Apple's new streaming service

Women at Work 2018

To celebrate International Women's Day on 8 March 2018 in the centenary of the partial suffrage, Women at Work 2018 promotes the goals of professional women in the UK 

 

Public Policy

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Brexit risks for the creative industries

Trade policy path to Brexit for the UK

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  • Amazon
  • Facebook
  • Google
  • Media
  • Technology

The Information Commissioner’s Office reported on the UK online advertising sector, finding common industry practices unlawful under a strict interpretation of the GDPR and UK privacy law

The ICO focused on problems around transparency, consent and data sharing in the Real-Time-Bidding ecosystem, which comprises 16% of UK online ad spend, but most of publisher online ad revenue. The ICO is giving the industry six months to shape up, with the next steps still unclear

The Competition and Markets Authority has had under consideration an investigation into the entire online advertising sector, but is hampered by Brexit-related considerations

  • Channel 4
  • ITV
  • Sky
  • Brexit
  • Media
  • Telecoms
  • TV
  • UK Media

We expect total TV ad revenues to decline 3.3% in H1 2019, partly due to a return to Earth following the idyllic conditions of the World Cup in June 2018

Bad omens for advertising for H2 include the sagging economy since April and the Government’s impetus to achieve Brexit on 31 October, with or without a deal

Our forecast remains a 3% decline for total TV ad revenues for 2019 as a whole, with the risk of a more serious downturn in 2020 in the wake of Brexit

  • BT
  • Hutchison 3G
  • Iliad
  • O2
  • T-Mobile
  • Telecom Italia
  • Telefonica
  • Vodafone
  • Media
  • Telecoms

European mobile service revenue growth slipped again to -2.0%; its worst performance in four years

Regulation limiting intra-EU call prices could hit hard next quarter – with the UK likely to be hardest hit by up to 6% of revenues and 20% of EBITDA

Excluding the EU-call impact, we see greatest scope for improving trends in Italy and France thanks to easier comps and diminishing competitive intensity

  • BT
  • EE
  • O2
  • Ofcom
  • Vodafone
  • Media
  • Telecoms

The UK mobile market posted its slowest growth in more than two years this quarter; just 0.5% service revenue growth although net adds were strong and churn was down

ARPU is under considerable pressure thanks to regulation limiting out-of-bundle spend which will exacerbate as the year progresses

Several other negative developments look set to be layered on the pressures this quarter, including a step-up in competitive intensity as 5G launches –  with H3G’s pricing of unlimited data a sign of a resurgence in its aggression

  • BBC
  • Channel 4
  • ITV
  • Turner
  • Vice Media
  • TV
  • UK Media

Mindful of the uncertain future effects of ongoing events, most notably the stagnating TV ad market and the costs of establishing an HQ in Leeds, Channel 4 returned a £5 million pre-tax surplus in 2018, which after investment in Box left its cash reserves at £180 million

Increased digital revenue more than made up for the anticipated drop in spot advertising and sponsorship (with group viewing share and SOCI down) while cautiousness necessitated lower content spend (down 5% from the peak in 2016); a concern given rising content costs

Nevertheless, Channel 4 is doing a good job delivering its remit in a tough environment, continuing to broadcast programming no-one else would and leveraging long-standing relationships to nurture television and film of a quality and ingenuity that belies the modest size of the organisation

  • BT
  • Sky
  • TalkTalk
  • Virgin Media
  • Media
  • Telecoms

Market revenue growth dipped to around zero in Q1, with fierce competition on new customer pricing the major factor

All four of the big operators now suffer from declining ARPU, with existing customer price rises increasingly hard to land given falling prices for new customers

The rapid move to superfast is not helping as much as it should; the operators will hope that they fare better with the move to ultrafast