There is a broadly positive sentiment coming from companies in the media and advertising industry, with US groups remaining more bullish than the Europeans, according to Merrill Lynch‘s TMT Conference, held in London last week.
European companies remain relatively upbeat, despite the fairly depressed conditions here. The broker says that declines in most areas appear to be levelling out, with some evidence of revenues growing slightly. The exception is German television, where poor trading conditions continue.
Companies in the US – where the recovery appears to be at a more advanced stage (see INSIGHTanalysis: Media Healthcheck – May 2003) – are significantly more bullish. Merrill says that this is the case across the board, with publishers sounding upbeat as well television companies – the obvious beneficiaries of the very strong upfront market (see US Upfronts Hit Record $9bn-Plus Autumn Sales).
Hello. We have downloaded cookies on your device. Some of these cookies are essential for the website to function. Others are non-essential and are used for analytics and advertising.
We need your consent for these types of cookies.
To withdraw your consent or change your cookie choices, please do this through your browser settings.
Otherwise, click OK to accept and continue.
