Member Info for stt1

5 things we learned about GDPR in 2018

"Love it or hate it, the arrival of the General Data Protection Regulation became the biggest topic — and cause of hand-wringing — for advertising companies across Europe in 2018."

https://digiday.com/media/5-things-learned-gdpr-2018/

Merry Christmas all genuine posters.

Jimzi,

"What was the basis for the acquisition? "

Following NHS Plans. TLY aims to become the leader in Out of Hospital Services. To achieve this, the company needs to follow NHS Plans.
Current NHS plans include Integrated Care (IUC) and Vocare provides the Integrated Care that was needed for TLY to advance their aim.

Could GDPR Consent String Fraud Bring Down the Whole Ad Tech Ecosystem?

https://www.cpomagazine.com/2018/12/05/could-gdpr-consent-string-fraud-bring-down-the-whole-ad-tech-ecosystem/

Oath to become Verizon Media Group as telecom doubles down on umbrella brand

Since the its inception a year and a half ago, Oath has failed to compete with the likes of Google and Facebook in the digital ad space.

https://marketingland.com/oath-to-become-verizon-media-group-as-telecom-doubles-down-on-umbrella-brand-254048

Move to Fee transparency..

AppNexus Offers Buyers Fee-Transparent Supply-Side Platform

https://www.exchangewire.com/blog/2018/12/14/teads-adform-join-forces-to-guarantee-premium-programmatic-outstream-appnexus-offers-buyers-fee-transparent-supply-side-platform/

Richard Murray: ‘Relax migration rules to solve NHS workforce crisis’

“Instead,” he says, “it’s important because it does have materially more money behind it than anything we’ve seen in the last decade – and because it represents a chance to go forward on reform: on integrated care, built around the population’s health needs.”

https://www.theguardian.com/society/2018/dec/19/richard-murray-nhs-workforce-crisis-kings-fund

f15jcm,

Good point.

Graham,

"Need a CEO who is knowledgeable within the city though and Wendy to look after operational functions."

That's exactly how the BoD are made up...Bob Holt is knowledgeable within the city and Wendy handles the operational side..

The WH note was published on the 13th Dec, so we've had a clear 2 days trading since.

13th December...

https://*********************/companies/uk/web/rhythmone/research/whitman-howard/h1-results-buy-back/69ba9e56-73b4-4715-ad60-9825bf76f274

Looks like the final 3 trades, £120k worth, are from Fri..

This early GDPR adtech strike puts the spotlight on consent

Choice isn't optional...

https://techcrunch.com/2018/12/13/this-early-gdpr-adtech-strike-puts-the-spotlight-on-consent/

I haven't seen any broker's notes..

However, as at now, the Reuter's website, the number of Broker's recommendations have been DOWNGRADED from
1 buy and 1 outperform
to 0 buy and 2 outperform..

3 months ago, there was 1 buy recommendations and 2 outperform.
Earlier in the week, Reuters showed 1 buy and 1 outperform.

Now 0 buy recommendations and 2 outperform.

ANALYST RECOMMENDATIONS AND REVISIONS
1-5 Linear Scale Current 1 Month Ago 2 Month Ago 3 Month
Ago
(1) BUY 0 1 1 1
(2) OUTPERFORM 2 1 1 2

https://www.reuters.com/finance/stocks/analyst/RTHM.L

The interims also didn't include full KPIs, as they have done so in the past...the Fill Rate(vols) and CPM (price) were missing... so can't compare how they are doing compared to previously updates.. They had included them for fy 2018 and Q1 2019.

fy2018: Under Operational Highlights.

https://investor.rhythmone.com/assets/pdf/RhythmOne_FY2018_Results_140618.pdf

Q1 TU:
https://investor.rhythmone.com/newsroom/2018/07/13/first-quarter-trading-update-and-directorate-changes

H1 2019 results:
whereas this time, only mentioned format - desktop, mobile, atv
https://investor.rhythmone.com/assets/pdf/RHYTHMONE_PLC_H12019_RESULTS_FINAL_TABLES.pdf

There's always a danger of information overload...
TLY have provided solid news about CQC ratings improving... TLY strategy is moving in the right direction. They can't control how fast the NHS or other organisations work.

Maybe they should push their PR company more. I'm sure 1gw must have met the PR guys at the AGM.

Their Twitter feed is still active..
https://twitter.com/TotallyPlc

rthm have a history of missing expectations... With new management, there's is likely to be new focus/vision...As the majority of management come from Yume, the focus/vision is likely to be the same as Yume...

The ad tech industry is fast moving and I think it's too early to suggest that they may have turned the corner...
It's clear from the results that pre-Yume revenues were largely flat and even Yume revenues were lower than they were previously..

From the results:

$58m of the $175m revenue is from Yume..

For H1 2017, Yume published revenues of $79m
Without Yume, the rthm H1 results, revenues were largely flat..

Looking at Yume's previous results.. It looks like Yume's revenue has been declining as well

Yume H1 2017 results, just before the rthm/Yume deal was announced..
Revenues of $79m...

https://www.marketwatch.com/press-release/yume-reports-second-quarter-2017-financial-results-2017-08-08

This from couple of years ago..just months before rthm's deal to buy them.

Margins were quoted as 50%
fy2016 revenues of $160m (2015 $173m)

They also had a buy back program back then. Coincidentally $10m as well.

https://www.businesswire.com/news/home/20170216006240/en/YuMe-Reports-Fourth-Quarter-Full-Year-2016

According to Reuters website, rthm recommendations have been downgraded from:

1 outperform and 1 buy
to
0 buys and 2 outperform

I noticed this a few days ago but the recommendations changed back to the former on Fri..

It is currently (Sun 2pm) showing as a Downgrade:
0 buys
2 outperform

"ANALYST RECOMMENDATIONS AND REVISIONS
1-5 Linear Scale Current 1 Month Ago 2 Month Ago 3 Month Ago
(1) BUY 0 1 1 1
(2) OUTPERFORM 2 1 1 2"


https://www.reuters.com/finance/stocks/analyst/RTHM.L

Pensioner,

"They are almost certainly well informed."

Tosca were buying years ago at much higher prices, around double current sp..

Tosca increased slightly recently after the new broker, Whitman Howard, was appointed.

https://investor.rhythmone.com/newsroom/2018/12/04/nominated-adviser-and-broker-changes

Gerihatrick,

"which has top rating on the seller trust index."

They announced they were top of Pixalate in 2017 and then again in 2018...
It didn't stop forecasts being reduced.

https://uk.advfn.com/stock-market/london/rhythmone-RTHM/share-news/RhythmOne-PLC-Maintains-1-US-ranking-on-Pixalates/75873901

2018:
https://uk.advfn.com/stock-market/london/rhythmone-RTHM/share-news/RhythmOne-PLC-1-Ranking-Global-Seller-Trust-Inde/77205587

It didn't stop forecasts being reduced...
https://www.reuters.com/finance/stocks/analyst/RTHM.L

Gerihatrick,

We haven't had a full half period with the new management. I think it's too early to assess whether they have turned the business around.
rthm have a history of closing operations. Whether they were following the 2014 blog or previously classified as non-core or more recent non-platform etc. The full consequences of closing those operations on revenue, cash etc won't be known for months, at least a year after they have been closed down. Given new management, majority from Yume's previous business, it's seems more likely rthm's operations are more likely get the chop (rthm's old snr management have left) .

"The gross margin is up; the EBIDTA is greatly improved and they are getting closer to profitablity."

You're comparing a period H1 2017, pre-Yume, against H1, which includes Yume.
Looking at gross margins for instance, Yume, CTV, commanded higher gross margins...
Fy 2016 Yume GM of 50%
rthm H1 2018 GM 38%
Current H1 2019 GM 45%

so GM compared to Yume's 2016 fy results is down.

Yume's fy 2016:
https://www.businesswire.com/news/home/20170216006240/en/YuMe-Reports-Fourth-Quarter-Full-Year-2016

Pre-Yume:
https://investor.rhythmone.com/assets/pdf/RHYTHMONE_PLC_H12019_RESULTS_FINAL_TABLES.pdf