The consumer books market has flourished during the pandemic: following early worries, publishers are reporting strong growth and profits

However, bookshops, the most important point of contact between the industry and readers, are facing their toughest challenge yet as ecommerce booms and continued home-working saps high street footfall                                                   

Publishers and authors are embracing new, online ways of promoting titles. These will require new ways of working, and are not substitutes for dedicated shops, which must be protected as much as possible

The press industry lost £1 billion off the topline from the calamitous decline in print revenues due to pandemic-related mobility restrictions, partly offset by gains on digital subscriptions, much harder to precisely size in revenue terms.

Trapped at home for the most part, online traffic to BBC News and news publisher services boomed. Popular news sites marginally grew digital advertising while the quality nationals attracted 800,000 new paying subscribers to reach nearly three million in 2020.

The outlook for 2021, in the transition to the ‘new normal’, is mixed. Consumer work patterns and news, information and entertainment habits are unlikely to ‘bounce back’ to pre-pandemic levels, placing free commuter titles at particular risk. Signs of confidence through online innovation are welcome.

On 9 and 10 March 2021, Enders Analysis co-hosted the annual Media & Telecoms 2021 & Beyond conference with Deloitte, and sponsored by Barclays and The Financial Times.

With over 50 speakers from the TMT sectors, including leading executives, policy leaders, and industry experts, the conference focused on the impact of the pandemic on society and the TMT sector, decarbonising work, and the post-pandemic recovery.

Over 1,000 attendees enjoyed our first virtual conference and these are edited transcripts ofthe speakers on Day 1, with keynote speeches and sessions on: sustainability in the TMT sector, news media, telecoms, and tech. Videos of the presentations are also available on the conference website.

On 9 and 10 March 2021, Enders Analysis co-hosted the annual Media & Telecoms 2021 & Beyond conference with Deloitte, sponsored by Barclays and The Financial Times.

With over 50 speakers from the TMT sectors, including leading executives, policy leaders, and industry experts, the conference focused on the impact of the pandemic on society and the TMT sector, decarbonising work, and the post-pandemic recovery.

Over 1,000 attendees enjoyed our first virtual conference and these are edited transcripts of the speakers on Day 2, with keynote speakers and sessions on: policy, advertising, video and sports, and video production. Videos of the presentations are also available on the conference website.

The Telegraph’s carefully executed outsourcing of print advertising sales to Mail Metro Media fine-tunes its subscriber-first strategy.

Consolidation and collaboration are inevitable in a highly-competitive, structurally-shrinking news industry.                           

Reader-first models have emerged as the consistent theme for quality publishers, but the trade-offs, investment approaches and executions are highly differentiated.

In a challenging media marketplace, quality online news services generated hundreds of thousands of new buyers in 2020, perhaps inching ahead of print in terms of UK household propensity-to-pay.

But reader-first models are not only about subscriptions. The UK’s first national print title to go online-only, The Independent, has achieved operating profits since reconfiguring its cost base in 2016.

The Independent defies many investor assumptions about news. Solutions for smaller businesses may diverge more from industry giants than is commonly expressed, and without distribution change, editorial, product and commercial transformation is slower.

Google is demonstrating support for news by stepping up its efforts to license content from publishers and provide unpaywalled access within its Google News app—an attempt to diffuse regulatory pressure.

The issue of incentives to sustain scale businesses that originate and distribute high quality news in the digital era is still left unanswered.

Facebook has taken an opposite strategy, banning the sharing of news in Australia on their platforms—a risky, yet calculated move.

National World Plc, David Montgomery’s investment vehicle founded in 2019, will buy JPI Media for £10.2 million, a tiny 1.7x EBITDA.

Disposals by JPI Media shifted its operating model towards digital, National World will shift this further.

This acquisition kicks off what is likely to be a busy period for M&A, though local consolidation remains hindered by the local media mergers regime.

Publisher Future paid a premium to acquire listed GoCo, the financial services comparison platform, for a cash and shares deal valued at £594 million, provided GoCo shareholders approve the deal at a vote in January.

For Future, the purchase of GoCo gives it a platform for consumers for whom the service is free, deepens its tech stack and diversifies revenues to affiliate fees earned from ecommerce.

Future's strategy of growth by acquisition has helped offset structural decline in the print portion of the business. The question is whether GoCo will generate sufficient returns to justify the premium paid