Live music gives London a £2bn boost – but venues are still battling rising costs July 18, 2023 Economists and melomaniacs alike have reason to cheer the capital’s post-pandemic musical revival with the capital’s coffers given a £2bn boost by large and small concerts alike. Nearly 5m music lovers flocked to the capital last year to attend live music events, according to a report from UK Music, filling hotels, bars and restaurants. The [...]
2023 Women’s World Cup ads showcase new-found star power of players July 17, 2023 Four years ago, the Women’s World Cup in France was billed as the biggest to date, but despite the hype it was still struggling to be commercially attractive for sponsors and advertisers in its own right. As the Women’s Sport Trust explained “when women’s sport is approached using the same commercial frameworks as men’s sport [...]
Netflix lookahead: Password sharing crackdown could boost revenues July 16, 2023 Netflix’s password sharing crackdown could bolster revenues for the streamer as it gears up to post second quarter results on Wednesday, analysts have suggested. With Netflix subscription sign ups having been on the rise for the past three quarters, AJ Bell analyst Danni Hewson said they are expected to come in higher in the latest [...]
BT boss Jansen pins share price slump on ‘short-term’ London investors July 16, 2023 BT's outgoing boss Philip Jansen has blamed a 'short term' outlook in London for his firm's lengthy share price slump in a defence of his tenure at the top of the telecoms giant.
ITV ‘no longer’ exploring £1bn bid for Fleabag maker All3Media July 14, 2023 ITV has pulled out of a potential acquisition of All3Media, amid concerns any deal would not represent fair value for money.
UK announces in-depth probe of Adobe’s $20bn Figma deal July 13, 2023 Britain’s antitrust regulator on Thursday announced an in-depth probe of Adobe’s $20 billion bid for cloud-based designer platform Figma, after the Photoshop owner said it would not offer any remedies to ease the regulator’s concerns. The Competition and Markets Authority (CMA) said late last month it had found the deal could lead to less choice [...]
Disney scraps successor plans, extends CEO Bob Iger’s deal – and adds bonus of 500 per cent his salary July 13, 2023 Disney boss Bob Iger has extended his contract by two years with his annual bonus potentially reaching five times its previous size. Originally set to expire next year, Iger’s contract will now run through the end of 2026. The boosted bonus means Iger could receive up to 500 per cent of his annual base salary [...]
Hipgnosis working to increase shareholder value after investor complaints July 13, 2023 The boss of Hipgnosis said today that the song management company is working on options to increase shareholder value after investors complained about its dwindling share price. “I am aligned with shareholders in believing that the fundamental value and opportunity of the company fails to be reflected in the current share price,” Merck Mercuriadis, Hipgnosis boss [...]
Ofcom opens Virgin Media probe after customers struggle to ditch contracts July 13, 2023 Ofcom has launched an investigation into whether Virgin Media broke rules surrounding contract termination and the handling of complaints. The company has gained the attention of Ofcom after customers filed a significant number of complaints that the firm was making it difficult for them to cancel contracts. The UK communications regulator said their rules are [...]
Channel 4 bosses decline pay rise as staff battle cost of living crisis and revenues dip July 12, 2023 Channel 4 boss Alex Mahon said the broadcaster’s top executives declined a pay rise and deferred their bonuses to stay “in line” with staff who are battling the cost-of-living crisis amid a “tough downturn” in the advertising market for the channel. The broadcaster’s annual report published on Wednesday said it had to “significantly” tighten the [...]