ITVS offsets weak NAR: ITV H1 2017 results

3 August 2017

ITV H1 2017 results are in line with guidance contained in its Q1 trading update issued in May, while full year guidance has remained largely unaltered

The 8% decline in TV NAR, timing of programme deliveries and increased business investment were main reasons for the 8% drop in group EBITA despite growth elsewhere limiting the decline in group external revenues to 3%

ITV continues to deliver strong group profit margins of close to 30%; however, online poses several threats to TV NAR. The threats can only be increased by the quest for retransmission fees, whilst the spate of production acquisitions raises questions about risk management

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Epic v Apple: A must-watch moment for tech antitrust

27 July 2021

Epic Games, maker of mega-hit Fortnite, sued Apple over alleged antitrust violations around App Store rules and Apple’s 30% tax on in-app transactions. A decision could come soon, though it will be contested on appeal.

The implications of the case could be far-reaching, as Apple and other tech companies like Google design their platforms to extract high-margin revenue from the transactions they facilitate, including news subscriptions: a five-year basic in-app subscription to The Times costs £885, of which Apple takes £158.

It comes in the context of a flurry of debate and decisions around tech antitrust and consumer protection: new laws may ultimately be needed, but regulators in the US and UK are proving they can be creative with their existing tools.

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Television viewing: Most is still watched live

20 July 2021

Viewing habits are changing but live is still central to the TV experience

Television’s biggest shows are amongst the most timeshifted, and therefore have an outsized impact on the decline of live viewing debate

Viewing—not just of news and sport—is still overwhelmingly live, despite differences across genres and broadcasters

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Cars market and used car marketing: pandemic accelerates digital

19 July 2021

Sales of used and new cars fell 18% in 2020, impacted by the pandemic’s closure of forecourts, and bottlenecks in the supply chain. Consumer demand for private over public transport has strengthened, however, pointing to a recovery of car sales in 202.

Market leader Auto Trader posted a 29% revenue decline in the year ending in March 2021, largely from necessary but self-imposed subscription holidays. Auto Trader revenues are set to rebound in 2021 as the car market’s recovery emerges.

The pandemic accelerated the transition of the consumer car buying journey from the physical forecourt to the digital space. Fully digital transactions are edge-case, but there is huge opportunity for scale players to facilitate transactions—needless to say, Auto Trader looks to be a key winner.

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