Value in volumes: Books, midlists and retail

23 March 2018

There are signs of hollowing-out in the book trade: a lack of disruption at the top line obscures the fact that mid-selling breakthrough titles are becoming rarer, debuting authors is becoming more difficult and loyalty is declining

Publisher tools to overcome these trends are weakening, while self-publishing has introduced fierce competition in price, if not yet quality

To fight the tide, publishers will need to concentrate on the remaining points of differentiation, as well as preserving dedicated retail channels and changing conceptions around reader relations

Recent reports

UK print news regime: DCMS plans for online

5 December 2024

The proposal from DCMS to expand the pre-digital “public interest” regime that requires clearance for changes in the equity stakes in print newspapers to online news publishers lacks a firm rationale in 2024.

A plethora of online sources dilute the influence of news brands and their proprietors over British people’s political views, in particular the platforms (X, YouTube, TikTok and Facebook) hosting self-publishing influencers, politicians and political advertising.

The UK's expanded future regime, if enacted, will further chill the appetite of investors for stakes in commercial media, reduce their value and ability to raise capital, and stifle beneficial consolidation.

Access report

Green light for Vodafone3: Long road to the right outcome

4 December 2024

The CMA has approved the merger of Vodafone and H3G, paving the way for the UK’s largest mobile network operator.

Remedies are in place to ensure pricing stability in the short term, with the increase in sector capacity keeping the pricing side of the equation in check over the longer term, together with network quality upsides for users.

This is the right outcome in our view, with the alternative of a slow, painful retreat by H3G much less desirable for the industry. BT/EE will face the greatest challenges in adapting to the new market structure, with upward pressure on capex spend for all network operators.

Access report

TV advertising's evolution: The broadcasters' perspective

4 December 2024

Broadcasters have made considerable progress in becoming platform agnostic over the past three years, delivering innovative ad propositions offering greater targeting, flexibility and measurement.

They would welcome the opportunity to work with advertisers to explain the complexity involved in delivering linear and digital campaigns.

Broadcasters believe that although TV advertising is transitioning to digital, legacy share deals and reliance on pricing relative to ITV1’s station average price (SAP) continue to hold the market back. Potential amendments to CRR may allow for a smoother digital transition, benefitting the entire ecosystem.

Access report