UK Regional Newspapers

20 July 2010

In this report we look at one of the subsectors of UK media - regional newspapers - to see whether these companies would be relatively resilient in a downturn - this is the product of our review. The main points are as follows:

Our rationale is simple. This year has been profoundly affected by the impact of high levels of inventory in the early months of the year. This stock has now been disposed of, and handset shipments from manufacturers will revert to a level more aligned with retail demand. This will push up shipments next year from this year's artificially depressed level.

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ITV Q1 2024 results: Advertising looking up as Studios fights headwinds

9 May 2024

A drop in Studios' revenue—attributed to phasing of content deliveries and strikes— saw ITV's external revenue down 6% to £727 million in Q1. An improvement in advertising could not offset this drop but H2 will be better for production and see Studios flat for FY 2024

After big launch momentum, the growth of ITVX appears to be slowing, while the service's release strategy continues to evolve

ITV’s total advertising revenue (TAR) was up 3% in Q1 to £432 million (2023: £419 million). H1 is forecast to be up 8%, with Q2 up 12%, buoyed by the Euros which start in June

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Revenues revert: Pricing conundrum in UK telecoms

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In-contract price increases have been the worst of all worlds—reputationally damaging for telecoms operators but contributing (temporary) revenue growth of just half the rate of inflation. We expect the revenue boost from in-contract price increases of 5% last year to become a 2% drag from Q2 2024.

Cost inflation is, however, cumulative with an acceleration in the gulf between costs and revenues forecast from here. We expect muted financial guidance for 2024/25 from BT Consumer and Vodafone UK over the coming weeks.

Rising new-customer pricing is a necessity if margins are not to be significantly squeezed, but competitive intensity and scale economics continue to thwart such efforts, with no real resolution in sight.

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Access report