The Hargreaves review of UK intellectual property law proposes to introduce a “limited private copying” exception to legalise existing recopying across devices

The proposed Digital Copyright Exchange (DCE) is a good idea, but industry reticence to financing and using a DCE is a challenge

Practical solutions to licensing digital content-based services should be the focus of Coalition efforts to spur innovation and economic growth

Revenues and profits continue to crash at the directory giant as local and small business expenditure shifts to cheaper online media

We believe Yell’s challenges may be less about share of voice, and more about how to absorb the pace of structural change – and to operate its business effectively from a much lower top-line

Tough conditions in all territories – UK, US, Spain and Latin America – have accelerated structural change, but Yell has some advantages over the start-ups, search algorithms and social networks that surround it

TTG’s full year results were, in the most important respects, solid, despite customer service issues and high churn caused by the migration of former Tiscali customers onto a single set of platforms

We remain cautious about the speed with which churn can be reduced, but there is little sign of the problem spreading beyond the former Tiscali base

Operating leverage and cost reduction have been impressive and give us confidence that new financial guidance will be met, although other sources of growth remain elusive

Amazon now sells more ebooks than print books on Amazon.com, while overall US ebook sales were 15.6% of the consumer market in March, up 142% from last year. Meanwhile, for some publishers over half of book sales are now through companies that are not book sellers

Waterstone’s has been bought by a Russian investor for £53m, with James Daunt parachuted in to take it back to its roots in bookselling, while in the USA John Malone has bid for Barnes & Noble valuing it at $1.45bn

As book buying moves away from bookshops and away from print, both retailers and publishers will need to rethink both their scale and the way that they engage with readers. Beautiful shops and beautiful apps are probably an insufficient response

Sky’s revamped model has delivered a sharp reduction in churn and higher gross additions, accelerating subscriber growth. Rising high definition take-up is sustaining the increase in average revenue per user

Business prospects are improving on stronger private consumption and a carriage deal for HD versions of German commercial channels

Our forecasts have been revised upwards and we now expect faster improvement in cash flow, though it will still be negative in 2013

In the March 2011 quarter Apple’s revenue was up 83% year-on-year and net income up 95%. iPhone sales are up 113% and the iPad has sold 19.5m units in the last 12 months. Even the ‘legacy’ Mac business grew 32%, and Apple now has over $65bn cash in the bank. Not bad for a niche business

With single digit penetration in its core growth businesses, Apple has the opportunity to continue growing fast for some time to come

The threat from Google’s Android is real but limited: we expect Android to take a large part of the mid range phone market but that Apple will retain and extend its competitive advantage for tablets and high end phones

Facebook's audience and consumption growth is now generating substantial and rising display advertising revenue, with consensus estimates of $2 billion in 2010, up 160% YoY, and it will overtake Google on this count this year

The social network's growing position as the centre of the internet experience is enabling it to become a platform for other services, such as e-commerce, making it an increasing strategic threat to Google, as well as other players in the digital media

More importantly, like Google before it, Facebook’s scale and function has the power to disrupt the digital e-commerce and marketing models built over the past decade

Sky is managing to sustain strong underlying growth in the face of a challenging retail environment, in which it has maintained strong growth rates in quarterly gross TV additions and home communications products

Revenues were slightly down on the previous quarter, but this was mainly due to the January increase in VAT and seasonal variations in advertising spend, while the results confirmed the company’s strong discretionary control over costs

As the period of peak product additions passes, we can look forward to a strong growth trajectory in operating profits over the next three years

VMed’s Q1 results were respectable, helped by strong revenue growth at Virgin Media Business

However, growth in volume, ARPU and OCF, while still positive, is trending downwards, and we retain our expectation of more limited progress in 2011 compared to 2010

VMed’s strategy is coherent; the issue is the pace at which initiatives such as high speed broadband, service convergence and footprint expansion can be converted into cash flow growth

In Q1, Google’s UK gross revenue increased 13% YoY to £602 million (net of hedging gains), down from the 18% growth in the last quarter and in Q1 2010

Slowing growth appears to be due to the weak state of the UK economy, with consumers and advertisers alike holding back on online spending compared to previous years

We have downgraded our 2011 UK growth forecasts for Google and internet advertising spend to 12% and 9% YOY respectively; while search remains the main market driver, online display is increasingly the key battleground