Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksStvg Share News (STVG)

Share Price Information for Stvg (STVG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 241.00
Bid: 240.00
Ask: 245.00
Change: 1.50 (0.63%)
Spread: 5.00 (2.083%)
Open: 245.00
High: 245.00
Low: 240.00
Prev. Close: 239.50
STVG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UK Regulator Calls For Huge Reform To Save Public Service Broadcasting

Tue, 08th Dec 2020 10:59

(Alliance News) - The UK Office of Communications on Tuesday called for an overhaul of broadcasting laws and regulation, warning that traditional UK broadcasting is not likely to survive in the online world without it.

The regulator warned that: "Audiences are increasingly turning away from the traditional PSB channels - the BBC, ITV, STV, Channel 4, S4C and Channel 5 - in favour of global streaming and online services offering vast libraries and personalised content."

The BBC and Channel 4 are publicly owned, while STV is owned by media firm STV Group PLC, Channel 5 by ViacomCBS Inc, and ITV by ITV PLC.

Traditional broadcasting companies like these are facing enormous competition from streaming giants like Netflix Inc, Walt Disney Co's Disney+, and HBO Max, part of AT&T Inc-owned WarnerMedia.

"Last year, only 38% of 16-34s' viewing (and 67% among all adults) was to traditional broadcast content. Two in five viewers of streaming services say they can imagine watching no broadcast TV at all in five years' time," Ofcom noted.

Ofcom declared that: "Laws and regulation must be overhauled. The rules and laws around public service broadcasting largely date from when the internet was still in its infancy - and they remain focused on traditional broadcasting. Without radical changes to support PSBs' shift from traditional broadcasting to online, the challenges facing them may become acute."

It called for a new framework establishing clear goals for public service broadcasters and more choice on how to achieve these. Ofcom would hold companies responsible for meeting quotas to safeguard vital areas like news and companies would have to set out, measure, and report on their plans.

Ofcom also suggested that other companies might become public service media providers, as "new providers could help deliver public-service media in future."

"New providers could offer different skills, expertise and online experience - leading to wider benefits to audiences and the economy. They could be granted prominence and availability benefits that are currently only enjoyed by today's PSBs, and also be incentivised by tax relief and contestable funding," said Ofcom.

Ofcom is consulting on questions about its proposals until March 16, 2021. It will undertake additional work on the scope and terms of rule governing public service content and will separately review the UK production sector to see if existing terms are still effective before making recommendation to the government later in 2021.

Ofcom Chief Executive Melanie Dawes said: "Our traditional broadcasters are among the finest in the world. But television has witnessed a blizzard of change and innovation, with audiences turning to online services with bigger budgets.

"For everything we've gained, we risk losing the kind of outstanding UK content that people really value. So there's an urgent need to reform the rules, and build a stronger system of public-service media that can flourish in the digital age.

"That could mean big changes, such as a wider range of firms tasked with providing high-quality shows made for, in and about the UK."

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
3 Oct 2018 17:02

European Markets Bounce Back As Italian Concerns Ease

BRUSSELS/FRANKFURT/PARIS (Alliance News) - Following the weak performance of the previous session, the European markets ended Wednesday's session with modest gains. Investor sentiment a

Read more
3 Oct 2018 08:17

STV Group Finance Chief George Watt To Depart After Two Decades

LONDON (Alliance News) - Media firm STV Group PLC on Wednesday said its Chief Financial Officer George Watt will be leaving the firm after 20 years.Watt is set to depart at the end of March

Read more
7 Sep 2018 11:47

STV Group Appoints Former NBCUniversal Executive As Managing Director

LONDON (Alliance News) - Scottish media company STV Group PLC said Friday it has appointed David Mortimer as managing director of STV Productions.In this role, Mortimer will take charge of

Read more
4 Sep 2018 12:06

STV Swings To Loss In First Half As It Closes Channel, Sells Licences

LONDON (Alliance News) - STV Group PLC on Tuesday said it swung to loss in the first half of 2018 following the closure of its STV2 channel and disposal of its licenses.The media company it

Read more
28 Aug 2018 15:57

UK Earnings, Trading Statements Calendar - Next 7 Days

Wednesday 29 August IQEHalf Year ResultsGym GroupHalf Year Year Fisher & Year Year 30

Read more
3 Jul 2018 07:49

NewRiver REIT Appoints Margaret Ford As Chair, Replacing Paul Roy

LONDON (Alliance News) - FTSE 250-listed NewRiver REIT PLC said on Tuesday it has appointed Margaret Ford as chair of the company with effect on October 1.She will be placing Paul Roy, who

Read more
16 May 2018 14:15

STV Forms New Organisational Structure Costing 34 Jobs, Closes STV2

LONDON (Alliance News) - STV Group PLC said Wednesday it is creating a "comprehensive" three year strategy that will lead to a new organisational structure and 34 job losses.The 2

Read more
9 May 2018 16:16

UK Earnings, Trading Statements Calendar - Next 7 Days

Thursday 10 May BT GroupFull Year ResultsCoca-Cola HBCQ1 ResultsStobart

Read more
19 Apr 2018 16:10

UK Shareholder Meetings Calendar - Next 7 Days

Friday 20 AprilHSBC HoldingsBank of Ireland GroupMonday 23 & Colonial Investment 24 Stock

Read more
28 Dec 2016 09:18

STV Extends Duration Of Airtime Sales Agreement With ITV

Read more
20 Dec 2016 11:27

STV Agrees 11-Year Recovery Plan With Pension Scheme Trustees

Read more
12 Oct 2016 08:46

STV Group Invests GBP4 Million In New Scottish Children's Lottery

Read more
7 Jul 2016 15:08

STV Group Commissioned By Channel 5 For Celebrity Power Couple Show

Read more
26 May 2016 09:33

STV Group Follows Celebrities For New Cycling Show On Channel 5

Read more
13 May 2016 15:03

Dividends Calendar - Week Ahead

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.