Analysis: Can Disney Plus rescue the House of Mouse? May 6, 2020 Disney last night laid bare the extent of the damage from the coronavirus crisis, which has sent shockwaves through all parts of the entertainment giant’s business. Chairman Bob Iger warned of “unprecedented challenges” as the company reported a $1.4bn (£1.3bn) hit to first-quarter operating income. With lockdown shutting down its theme parks, cruises and its [...]
Barclaycard signs concert sponsorship deal with Global May 6, 2020 Barclaycard has inked a three-year deal with Global to sponsor its flagship pop concerts as the companies turn their focus to live events after the coronavirus lockdown. The partnership includes headline sponsorship of the Capital Summertime Ball and Jingle Bell Ball — the first time the two events have been sponsored together. The Summertime Ball [...]
ITV advertising revenue collapses in April amid Covid-19 crisis May 6, 2020 ITV has warned of a slump in advertising revenue for April as the coronavirus crisis ravages the broadcaster’s business model. ITV’s total revenue fell seven per cent in the first quarter to £694m as the pandemic began to take its toll. Revenue from ITV Studios dropped 11 per cent as the company was forced to [...]
Sky launches £1m advertising fund for small businesses May 5, 2020 Sky has today launched a £1m fund that will provide free TV advertising campaigns to 100 small businesses hit by the coronavirus crisis. The scheme is available to small and medium sized businesses that have been running for at least a year in the UK with up to 50 full-time employees. Companies can nominate themselves [...]
ITV shares drop after broadcaster cancels Love Island May 4, 2020 Shares in ITV fell more than four per cent this morning after the broadcaster confirmed it has cancelled Love Island due to coronavirus. In a statement ITV said series seven of the hit dating show will now take place in 2021 as travelling to a villa in Mallorca for filming was “out of the question”. [...]
Exclusive: Ronan Keating sues Rupert Murdoch’s News UK in phone hacking claim May 1, 2020 Ronan Keating has filed a lawsuit against the owner of the Sun, becoming the latest celebrity to seek damages from Rupert Murdoch’s media empire over alleged phone hacking. The former Boyzone star has hired lawyers at specialist phone hacking firm Hamlins to file a claim against News Group Newspapers (NGN), part of Murdoch’s News UK. [...]
Meghan Markle loses first claim in Mail on Sunday legal battle May 1, 2020 Meghan Markle has lost the first stage of her legal battle against the Mail on Sunday over alleged breach of privacy. A High Court judge today sided with publisher Associated Newspapers and ruled that three aspects of Markle’s case should be ruled out. The lawsuit relates to the publication of a private letter sent by [...]
Treasury fast tracks VAT cut for e-books and digital newspapers April 30, 2020 Plans to scrap VAT on e-books and digital newspapers have been fast tracked in an effort to support the publishing industry during the Covid-19 crisis, the chancellor said today. In his Budget speech in March Rishi Sunak said all digital publications, including books, newspapers, magazines and academic journals, would be exempt from the tax from [...]
Twitter posts rise in revenue despite Covid-19 advertising hit April 30, 2020 Twitter today posted a rise in revenue for the first quarter despite the lingering threat of a slowdown in advertising caused by the coronavirus crisis. The social media platform reported revenue of $808m (£646m) in the first three months of the year, up three per cent on the same period in 2019 and ahead of [...]
Comcast profit drops as Covid-19 shutdown offsets broadband boost April 30, 2020 Comcast today reported a sharp drop in profit for the first quarter as the shutdown of cinemas and theme parks due to the coronavirus outbreak offset a rise in broadband usage. The US media giant posted net income of $2.1bn (£1.7bn) in the first three months of the year, down almost 40 per cent year [...]