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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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  • 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

  • O2
  • Telefonica
  • Media
  • Telecoms

After a period of significant outperformance, O2’s Q1 results reverted to sector average revenue growth with ARPU down by 3% and all of the growth coming from ‘other’ revenues

Regulation limiting out-of-bundle spending has been a significant drag which will continue to worsen

A more competitive market and a punishing regulatory outlook will make it very challenging to sustain 2018 growth trends as this year progresses

  • Amazon
  • Facebook
  • YouTube
  • Internet
  • Media
  • Telecoms
  • TV

Video sharing platforms, like YouTube, Facebook Watch and Twitch, are vying to attract creators with monetisation options such as branded content and user payments

Advertising income, already limited for many small and medium-sized creators, has been undermined by YouTube’s response to brand safety concerns

The new tools come with their own obstacles, but are necessary to keep platforms attractive to video creators