Mindful of the uncertain future effects of ongoing events, most notably the stagnating TV ad market and the costs of establishing an HQ in Leeds, Channel 4 returned a £5 million pre-tax surplus in 2018, which after investment in Box left its cash reserves at £180 million

Increased digital revenue more than made up for the anticipated drop in spot advertising and sponsorship (with group viewing share and SOCI down) while cautiousness necessitated lower content spend (down 5% from the peak in 2016); a concern given rising content costs

Nevertheless, Channel 4 is doing a good job delivering its remit in a tough environment, continuing to broadcast programming no-one else would and leveraging long-standing relationships to nurture television and film of a quality and ingenuity that belies the modest size of the organisation

The average cover price of national newspapers has risen by 58% since 2010, more than twice the CPI increase of 22%. Are publishers “shooting themselves in the foot” at a time when buyers and advertisers are defecting to online?

To settle this, we analysed all the cover price events by national titles between 2010 and 2018, which reveals the relative success of The Times when it has raised its price.

For mid-market and popular titles, cover price hikes have on balance reduced circulation revenues and, by lowering reach, drained advertising revenue: a lose-lose scenario.

Bleak prospects for digital advertising leave no choice to news publishers but to generate revenue from readers, and the lack of widespread frictionless micropayment options means there is no alternative to subscription — the vast majority of western ‘quality’ newspapers have rolled out paywalls; meters and registrations are the most promising approaches

Recent politics have increased demand for quality journalism and readiness to pay. Despite clumsy commercial models the rise in subscriber numbers is encouraging, but current price points may be too low for a sustainable digital transition. Churn is high, publishers have yet to fully develop and optimise ecommerce

The transition to an audience-centric model is a shift away from click bait, with distinctiveness, curation and news agenda hierarchy among the most important factors. Leveraging data to optimise audience engagement remains challenging

Even though Facebook is not a producer of news, 6.5 million UK internet users claim to mainly source their news from the platform. Posts and shares by friends in the user's network, in the context of Facebook's algorithm, determine the order of stories in the personalised News Feed, removing the control of the news agenda that publishers have for their websites

Premium publishers operating a paywall (The Times, The Financial Times) have a lower key approach to Facebook than publishers generating advertising revenue from referral traffic to their websites or from on-platform consumption of Instant Articles. The latter will seek to stimulate social media engagement, optimising stories through attention-grabbing headlines, and installing Facebook’s share and like buttons on their websites

Case studies of the news stories that were prominent on Facebook (measured by likes, comments and shares) in the periods leading up to the Brexit Referendum and General Election 2017 votes respectively demonstrate that newspaper brands (the Express for Brexit, and The Guardian for the General Election) achieved the highest reach on Facebook during these periods, despite being ranked below other news brands (BBC in particular) in terms of traffic to their websites

Facebook content shares suggest that misinformation had broad reach during both US and UK political campaigns, but outright fake news was rare, particularly in the UK 

Mis- and disinformation by both established and new publishers was distributed on Facebook, but monetisation took place predominantly off-site, and content was distributed by a wide range of search and social platforms 

Facebook has acted to limit the reach of disinformation, but can’t and shouldn’t be expected to do so alone as digital news distribution touches on complex questions including information and democracy, media literacy and heterogeneous cultural and social norms

Secretary of State (SoS) Karen Bradley has made an initial decision to refer 21CF’s bid for Sky to the Competition Markets Authority (CMA) for a detailed consideration of media plurality concerns, to be finalised in the near future

The issue at hand is the potential increase in the influence of the members of the Murdoch Family Trust (MFT) over the UK’s news agenda and political process. The SoS rejected the remedy for Sky News brokered by Ofcom

Ofcom’s non-negative decision on the fitness and propriety of 21CF to hold Sky’s broadcast licences cleared another hurdle in the event the merger is finally accepted

In an immersive industry workshop in Turin celebrating La Stampa’s 150th anniversary, quality news publishers from around the world expressed a strong collective belief in membership, an editorial strategy supported by an emerging advertising opportunity

Editorial and service relevance was defined by widely varying publisher missions, categorised by a range of local and specialist use-cases, creating highly differentiated services for print, mobile and other delivery

A low-level hum in the discussions was a recognition that fundamental change in company culture – editorial and commercial as well as business operations – is a complex but urgent requirement for achieving a long-term sustainable news service

Secretary of State Karen Bradley has intervened on two UK public interest grounds in 21CF’s bid for 100% ownership of Sky: media plurality, as in 2010, and a commitment to broadcasting standards, new in 2017

Ofcom will assess any implications of 21CF’s full control of Sky on whether it is ‘fit and proper’ to hold a broadcast licence, reporting back on 16 May

Undertakings are a live issue in the 2016 bid, notably to protect the editorial independence of Sky News, noting the bid faces determined opposition from certain quarters

Despite a slowing of circulation decline in 2016, UK national newspaper brands continue to face profound structural challenges, with print advertising spend expected to be down at least -15% for the year

In digital advertising, tech and distribution platforms continue to dominate growth with newspaper publishers and other content producers competing for an increasingly small slice of the revenue pie

In this context, many publishers are turning to paid membership and content subscription models to generate online revenues; success here will require a radical shift in thinking to a retailer mindset that delivers high quality reader experiences through integrated execution of tech, data, marketing and design

A lacklustre UK launch of Viceland—the new, multinational linear television channel from youth-skewing, gonzo-esque Vice Media—followed six months after a similarly underwhelming entrance into the US

It is surely early days, but despite strong content, the initial results were predictable, considering the challenges. The response by Vice, that viewing figures are essentially immaterial to its plans, was expected but deviated from earlier, bullish sentiments

Beyond linear viewing, as an intended mass “content generator” to power the greater Vice online network, Viceland may answer a fundamental question: Is Vice and its distinctive content really what the kids want?