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ITV is set to slash a further 600 jobs, cut £65 million from its programme budget and sell Friends Reunited and SDN in a desperate attempt to recover finances following its 41% profit decline.The struggling broadcaster today reported an adjusted pre-tax profit fall of 41% in 2008 to £167 million and a 32% drop in… Continue reading ITV’s profits down by 41%

Digital-only radio station Planet Rock is parting company with First Radio Sales, the company that has represented it for the past six months.FRS said that the decision to end the sales agreement was mutual, adding that it wants to focus on servicing its local radio stations.Planet Rock became the first digital-only station to be sold… Continue reading Planet Rock parts company with First Radio Sales

The Internet Advertising Bureau (IAB) has launched new guidelines for online behavioural advertising.Drawn up in collaboration with key players in behavioural advertising, the Good Practice Principles are the UK’s first self-regulatory guidelines for companies that collect and use data in this way.Supported by the Information Commissioner’s Office (ICO), the independent data protection regulator, the Principles… Continue reading IAB launches online behavioural advertising guidelines

The men’s magazine market took a blow yesterday with the news that Bauer Media’s Arena is to cease printing after 22 years.Although the latest ABC figures – for July to December 2008 – show that its circulation was up 16.5% year on year, its total was less than 30,000 copies.Arena was launched in 1986 by… Continue reading The rise and fall of Arena

ISBA director general Mike Hughes joined his new president, Coors CEO Mark Hunter, in urging the online industry to accelerate plans for a research currency today.Hunter described the lack of a currency as “unacceptable”, and a “major focus for ISBA this year”, whilst Hughes said he was “encouraging urgency and pace be put into it…… Continue reading “Snails Pace” online currency developments rile ISBA executive

The chief executives of the UK’s top regional newspaper groups have joined forces to pressure the government into relaxing merger restrictions.According to a report in the Financial Times, the Local Media Alliance came into being in January and then held a secret meeting at Claridge’s with communications minister Lord Carter on February 2.The seven executives… Continue reading Regional newspaper groups form alliance

ITV remains confident in the long-term course set by its content-led strategy, but will it be able to survive in the short-term?ITV today announced total losses of £2.7 billion after a huge downward realignment of its asset valuation – the broadcaster reported a pre-tax profit fall of 41% in 2008 and a 20% decline in… Continue reading Can ITV survive in the short-term?

Former ITV CEO Richard Eyre has called for a more open minded approach to behavioural targeting – “a game changer for advertisers”.Speaking at today’s ISBA conference, he said it may be “easier to attack than defend”, but there were huge opportunities here for advertisers. If this can get past the “privacy zealots and media vegans”… Continue reading Eyre backs behavioural targeting to replace our “geriatric advertising measures”

ITV has reported an adjusted pre-tax profit fall of 41% in 2008 to £167 million and a 32% drop in earnings before interest, tax and amortisation to £211 million. Annual revenues fell 3% from 2007 to £2.03 billion. Advertising revenues fell 4% to £1.43 billion, compared to a 5% fall in the overall TV market,… Continue reading ITV reports 41% fall in profits for 2008

There was little mercy being shown to a beleaguered ITV from ISBA director general Mike Hughes when he opened the annual conference this morning.Speaking about CRR (Contract Rights Renewal) which is being reviewed currently by Ofcom, Hughes stated that ISBA does not want CRR dropped, but would be open to seeing it amended. However, he… Continue reading ISBA and Ofcom restate CRR position as ITV hacks costs