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Damage from the cyber-attack was revealed to be a 2% impact to the on-net subscriber growth, a 3% impact to Group revenue growth and a combined EBITDA and exceptionals cost impact of £75-80m, roughly double the previous guidance

An updated FY17 trading strategy promises “more conservative” price increases and greater focus on upselling mobile/fibre/TV to existing customers, while maintaining rather than growing the consumer base

FY17 guidance has been updated to account for cyber-attack related setbacks and trading strategy adjustments, now aiming for modest revenue growth and EBITDA of £320-360m and an implied margin of 17-20%

BT Group’s revenue growth accelerated to 4.7% in Q3; while this was helped by some beneficial one-offs, including the TalkTalk cyber-attack, the underlying trends also looked strong across all divisions

Fibre adoption had a record quarter, with growth particularly apparent at BT’s DSL competitors, helping to drive Openreach’s external revenue growth to 7%

BT completed the purchase of EE at the end of January, and BT will keep EE separate for consumer but fully integrate for business. We are sceptical of consumer-side revenue synergies, but the business side and cost synergies will significantly benefit going forward

Europe’s biggest pay-TV service provider Sky has delivered another strong quarter, which saw H1 adjusted operating profits across the group rise by 12% year-on-year on a like for like basis at a constant Euro exchange rate, and the upward trend clearly has a lot of mileage left in it.

Although Sky UK & Ireland now generates almost all the current operating profits, the performances of Sky Germany & Austria and Sky Italy give cause for optimism and testify to the group’s deep commitment to top of the class innovation and customer service.

In a converging online, telco and TV space, the appointment of James Murdoch as non-executive Chairman and entry of Showtime into the Sky Atlantic partnership of Sky and HBO send out a clear message from the TV side about the importance of global scale and ties between its members.

China holds tremendous appeal to studios and OTT video services, boasting an audience of 460 million online video users in mid-2015 (69% of internet users), which could exceed 900 million by 2020 by our estimate

China’s OTT video marketplace generated estimated revenues of $5 billion in 2015, of which two-thirds was due to ad-supported streaming and the rest to paid video streaming

Netflix recently pledged to enter China, although the current regulatory environment presents substantial, perhaps insurmountable, challenges to a direct-to-consumer offering

Rumoured details of Google’s traffic acquisition deal with Apple and also the size of its Android revenue have prompted many to doubt the search giant’s prospects on mobile

Compared to previous analyst estimates and in view of Google’s traffic cost structure, we see the reported figures as positively rather than negatively surprising 

Since the mobile economy is still developing around the world, it is in our view misguided to evaluate the success of Android in revenue terms alone, since the OS responds to Google’s broader strategic aims            

The steep year-on-year decline in TV viewing among younger age groups has continued in 2015, with reported TV viewing by children 4-15 and adults 16-24 approaching 30% down on the peak of 2010

The downward trends notwithstanding, there are good grounds for believing that some of the new media consumption behaviours will fall away as today’s millennials move-up the lifestage ladder

In addition, half-yearly comparisons reveal a big slow-down in the rate of decline during H2 2015, suggesting that the explosive impact of smartphones, tablets, apps and social networks has almost reached its limits, while further change will occur at a much slower pace

Channel 4 is a key pillar of the UK’s audio-visual economy. Its unique commissioning model fosters a hotbed of new creative UK talent, an ecosystem of independent producers, many micro.

Channel 4 commissions a greater share of its budget than any other broadcaster, public or private, also fostering the creative economy outside the M25, and 9% of commissions will be to the Nations by 2020.

The future success of the stand-alone independent production companies is not in the hands of ITV and Channel 5, but of Channel 4 and the BBC – the pure PSBs.