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“It is a challenged market for sure,” says Douglas McCabe, the chief executive at Enders Analysis. “In terms of a print business, circulation has been falling away at rates of decline that are pretty worrying, volumes are probably down around 65% over the last 10 or 12 years.

“Publishers have some levers, increase cover price and reduce pagination, but it does feel like we are getting toward a period where the industrial scale of print is looking quite small and a lot less sustainable.”

He added “The scale of online audience is very impressive but they’ve not worked out how to retain usage and build value for users. The majority of sites are nowhere near monetising sustainably. The focus seems to be on getting as many eyeballs on a page as you can, but it needs to be about what is valuable.”

“What the Times has done so well with its games strategy to date is that it replicates some of the habit friendly elements of that traditional newspaper experience,” said Joseph Teasdale, head of tech at Enders Analysis. “Everyone gets the same experience around these games on a daily rhythm.”

He added “That’s the other thing about these games the Times is focused on, they’re super cheap. It’s a great return on investment when it comes to subscriber metrics and revenue. That calculation works really well compared to actually developing what people might think a game looks like nowadays.”

"TikTok has burned a lot of trust by dragging its heels on promises made in 2020 and due to the string of revelations about its aggressive harvesting of user data," Jamie MacEwan, senior media analyst at Enders Analysis, told Insider.

James Barford, head of telecoms research at Enders Analysis, said Cityfibre’s scale made it attractive to VMO2 as any integration costs would be spread over a larger base.



But he warned any tie-up would face scrutiny from competition regulators due to “significant overlap” between the two companies’ networks.

“I think Comcast overpaid for Sky and fantasized on very thin pan-European synergies and growth potential [but] selling a continental unit would not bring much cash in but it would send a signal to the stock market that they are serious about restructuring,” Enders Analysis analyst Francois Godard tells The Hollywood Reporter. Pointing to Sky Italia’s largely successful rollout of broadband services in Italy, Godard called the division “a solid asset. [So] why sell it at a discounted price?….I have seen no indication that Sky Italy would be up for sale. They are investing in telecoms, a long-term growth strategy consistent with the Comcast approach in the US and with Sky in the U.K.”

Sky’s Germany unit, which does not have a strong telecom or broadband component, looks more vulnerable.

Like Parker, Joseph Teasdale, head of tech at Enders Analysis, is mostly sanguine about the prospects of GPT-4. “I’m optimistic that new AI tools will help make the process of workshopping ideas, drafting and editing smoother and more productive, letting creatives focus on what they do best: creating,” he says. But, there could still be detracting elements to the technology, adds Teasdale.

“If I have a worry, it’s for the marketing industries, where I don’t think the ability to produce unlimited copy will make us clearer communicators,” he says. “I can see a world where we’re all getting AI to produce longform prose out of bullet points, only for audiences to use that same AI to condense it back down to bullet points to make it readable. Hopefully the absurdity of that situation will force us to answer the question: do we need all this generic text?”