It has been a mixed bag of news for the media industry this week, leaving a touch of speculation as to its future. There have been the regular features: the ongoing case for a press regulator and its slow progress, Rupert Murdoch caught up in yet more conspiracy and another flurry of corporate activity as publications seek to sell or dispose of various assets. But the new comment and analysis came this week from the advertising industry.
A group of analysts and industry executives have indicated that there is soon to be a big shake-up in the fastest growing segment of the media industry. The shift from print to online publishing spurred a wave of start up companies coming to market but the boom time for ad tech companies is drawing to a close.
This news is quite contradictory to the Independent’s announcement that it is to make 27 compulsory redundancies in an attempt to cut costs. Instead, the paper will be re-vamped, creating 20 more digital jobs. It continues to highlight the ongoing shift of UK papers online. Similarly, this is supported by recent data issued by the Advertising Agency. It indicated that the UK advertising market grew to almost pre-financial levels, with newspaper digital advertising increasing 29.3%. So it makes sense, yes?
Not necessarily… The London Evening Standard, which still relies strongly on print advertising, reported a small operating profit last year. Moreover, as more newspapers start to implement paywalls, more readers are returning to the old fashioned ink on paper format. This could generate a new attraction to print advertising. So, despite the ongoing job losses and editorial team cuts, maybe these papers are speaking too soon. Could the media sector be more cyclical than popular belief and not quite so finite?
Investment bank and brokerage firm Liberum Capita welcomes Adam Smallman from Informa as Head of Content. Sarah Farrow leaves New Quadrant Partners for business advisory firm Baker Tilly as associate director in its private client team. Stephenson Harwood has appointed Lisa Marks from Berwin Leighton Paisner as an asset finance partner at the law firm. Canaccord Genuity Wealth Management welcomed Stephen Massey, formally principal and founder of Eden Financial, as head of UK wealth management at the firm.
Brush down the BBQ, crack open the punnet of strawberries and bottle of bubble – the UK is set for another scorcher of a weekend, with temperatures expected to reach a glowing 29oC in the Big Smoke…
Make the most of the sunshine and head down to the spectacular grounds of Hampton Court Palace for the final two days of the Royal Horticultural Society’s 2013 Flower Show. Get some hands-on inspiration as you wander round the 34 gardens, floral displays and marquees or simply soak up some of the festivals live music, shopping, fashion and food.
For the less green-fingered folk, head over to Camden Lock Live this evening for London’s only free boutique urban festival. Camden Lock Market plays host to a full evening of music, street performance, theatre and outdoor bars, with the added extras of pop-up table tennis robots and award wining street food!
Food fans and French patriots can also make the most of their Sunday by heading over to the Bastille Festival in Bankside this Sunday, 14th July. Celebrate La Fête Nationale with a French feast courtesy of Borough Market, get a free face-paint or even indulge in trialling some fine French wines.
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