On 4 June 2024, Enders Analysis co-hosted the annual Media and Telecoms 2024 & Beyond Conference with Deloitte, sponsored by Barclays, Salesforce, the Financial Times, and Adobe

With over 580 attendees and over 40 speakers from the TMT sector, including leading executives and industry experts, the conference focused on how new technologies, regulation and infrastructure will impact the future of the industry

This is the edited transcript of Session One, covering: the evolution of streaming models, and public service broadcasting in the digital age. Videos of the presentations will be available on the conference website

Success was never going to be defined by profitability for GB News and TalkTV, at least in the mid-term. So far this has been borne out, with revenues small and viewing confined to niche audiences.

The two recently launched channels have become part of the broadcast news environment while diverging from its traditions. Their emphasis on opinion and commentary over news and analysis has influenced news agendas, political discourse and the TV news landscape more than their viewing figures suggest.

Now that the fairly elastic (and previously untested) boundaries for due impartiality set out in the Broadcasting Code are being stretched, it is only right that Ofcom look at them more closely. Although some change is to be expected, TV news' integrity as a highly trusted medium should be preserved.

A combination of factors drove the worst quarter ever for big tech growth, though the secular shift online of the economy and society will continue.

Advertising demand is down, reflected in lower prices. Ads did better the closer they are to transactions, with variability by category.

Efficiencies and AI are the investor-soothing buzzwords going into 2023.

Rupert Murdoch is seeking to merge News Corp and Fox Corp, split up a decade ago, to create greater corporate scale and streamline management.

A recombined News Corp would generate revenues of c.$24 billion based on fiscal 2022 results, with EBITDA of $4.6 billion, and an enterprise value in the region of $25-26 billion.

An additional rationale for News Corp is the financial protection of cherished news brands such as the Wall Street Journal and the Times inside a stronger enterprise. While the first phase of online transformations has been successful, sustainability of trusted, quality news media is never settled or guaranteed. The objective could hardly be more important now and in the coming years.

Apple's News and News+ service to iOS users in the UK, US, Canada and Australia has attracted many ad-funded and paywalled news publishers since its launch in 2015

Publishers’ 'opt-in' to its walled garden environment to reach underserved demographics on their own sites and raise brand awareness, and more recently, take advantage of the reduced commission on subscriptions sold through the App Store, with Apple taking 15% instead of 30%

For Apple, the priority is to improve the user experience, ultimately driving sales of iOS devices, although its engagement with news is only a minor source of revenue compared to games. We regard Apple News as being mainly a device to buttress its reputation in those selected markets where it faces political and regulatory pressures, explaining its limited geographic roll-out

Alongside freezing the licence fee for the next two years, the government made it clear that it believes the fee is no longer the optimal mechanism to fund the BBC, demonstrating a willingness to remove it in 2028

What seems to be the government's preferred replacement, a subscription, is not ideal: there are structural issues that mean it would not be possible to have a service that all could subscribe to without a costly switchover

Furthermore, a subscription would undermine a number of tenets of public service broadcasting, most notably universality, breadth of programming and representing the diversity of Britain—naturally a subscription service would pivot to commercially efficient content that targets its subscribers and those most likely to subscribe

Overall radio listening remains robust and continues to make up the majority of audio time, however a worrying decline in both reach and hours amongst younger people makes further innovation necessary

Shifting audio distribution trends driven by digital and IP listening, as well as the increasing influence of smart speakers and connected devices, represent significant challenges for the radio industry going forward

Strong collaboration and regulatory support will be needed to reconnect with elusive younger listeners, prevent US tech companies from becoming de-facto gatekeepers, and preserve the public value at the core of the UK radio industry

After China updated its Anti-Monopoly Law to cover platform companies, the Government is bringing to heel privately owned ‘national champions’, including via antitrust measures in their home market—the key source of their astronomical cash flow—and through interference in their expansion outside China

China lacks any tradition of anti-monopoly activity, given its gradual shift to the market from state-owned enterprises, it offers an example of theory in practice for antitrust reformers targeting platforms in the West

The global implications are huge: up to $2 trillion of Wall Street shares are exposed as China tightens controls on foreign IPOs. Regulators could also use enhanced antitrust powers to disrupt global dealmaking for economic leverage

Following deadly border clashes between the 15th and 16th June, the Indian government has taken down 59 Chinese apps including TikTok, accusing them of illegally mining user data

India is TikTok's biggest international market, accounting for half of all users outside China. Chinese apps made up 38% of all app installs in India last year, second only to domestic apps

The India-China rivalry may spill over into more sectors as reports suggest India is reconsidering Huawei’s role in its 5G infrastructure plans. A ban would provide a fillip to US influence in the country

Times Radio launches as an ad-free commercial speech radio service on DAB and online. By extending brand reach, it forms part of the marketing funnel to convert listeners into subscribers.

Radio is remarkably resilient for a traditional mass media, and this arrival will complement the strong commercial sector and the mighty Radio 4.

Timing will be a revenue challenge, but this bold, cost-effective, intelligently deployed experiment comes as the news industry is most at risk, a welcome innovation for readers and listeners—and for the sector.