Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
This isn't happy reading ..
On Thursday, ITV is likely to reveal dismal annual results, with analysts predicting pre-tax profits of £363m for 2023 — a fall of 46% from last year’s £672m. The fall is almost entirely due to an 8% drop in advertising revenue, resulting from what was described by ITV chief executive Dame Carolyn McCall as “the worst advertising recession” since the global financial crisis.
Whilst some promotions in which the promoter wants to keep control of the cost of prizes can be insure (have a read about the Hoover Free Flights disaster of the 1990's) in TV the costs are budgeted within the production costs.
Richard Osman talks about this in this weeks episode of the The Rest is Entertainment podcast.
I think everyone needs to take a closer look at the overal market rather than just pinning all of the blame on the Dame.. ITV have historically had the studio business to make up any shortfall in advertising; however this time round both sides of the business are being equally affected. TV ad spend is down massively and 80% of people working in UK TV production are currently out of work. Unfortunately next year is not looking any better.
Just look at the overall media industry.. Google, Meta, Spotify are all making redundancies, its not just TV and its certainly not just ITV.
I'm not a huge fan of her but just pinning the blame on her is rather short sighted.
A good point about viewing, but the reality is all of the Dec revenue was booked in October. Dec actually is one of the lowest months in terms of CPT's (cost per thousand ) viewers.
Also worth noting that advertising is traded via share deals, overall viewing is down so no matter high IACGMOOH or Xmas viewing is, it won't make a dot of difference.
The way things are going there isn't going to be a UK production industry if it carries on like this. Everyone I know who have been constantly employed in TV production have been out of work this year. No one is interested in UK centric content (the global streamers certainly do not.) I work on the ad sales side of things which is even worse.
Maybe something to do with the Q2 TV ad market slowing down and H2 not looking too positive.
https://www.campaignlive.co.uk/top_brand_agency
I'm sorry to say that it isn't at all. November is always the most expensive time of the year in terms of CPTS (ad currency) a normal world cup takes place in the summer when the CPT's are much lower, so it is then the boost really happens. Unfortunatley most of advertising deals, sponsorship etc would have been done earlier in the year so have already been included within Q4 numbers.
TV trading doesn't work like this, media agencies and ITV trade on share deals based on audiences (16-34 being the most expensive, all adults being the cheapest) the quality of the programmes have little impact on the where the ads are placed, hitting the share deals is the most important factor.
Agree on making better programmes, although I expect they know that and that they don't deliberately make bad shows. The industry is fully aware that although there is a place for linear ad funded TV, it is slowly on its way out. Hence why everyone is looking at SVOD and AVOD services. In this global market ITV cannot compete. Just look at Discovery Warner.. their platform will soon have HB0, CNN, Discovery, Warner Bros, Eurosport (which will soon own BT Sport) its not just about Netflix - Amazon and Apple are creating some huge shows.
No not really... your assuming Netflix viewers only watch netflix. If your a netflix subscriber and like Corrie, you will still watch corrie on ITV. Linear TV's long term issues is the decline in younger viewers (who the advertisers are after) nearly all of my nieces and nephews (in their 20's) don't own a TV.