DOCSLIB.ORG

UTV Media Plc (“UTV” Or “The Company” Or “The Group”)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
UTV Media Plc (“UTV” Or “The Company” Or “The Group”) UTV Media plc (“UTV” or “the Company” or “the Group”) ROBUST PERFORMANCE IN CHALLENGING MARKETS UTV DECLARES A 17% DIVIDEND INCREASE Belfast, London & Dublin – 19 March 2013: UTV Media plc today announces preliminary results for the year ended 31 December 2012 Financial highlights on continuing operations* . Group revenue of £120.1m (2011: £121.6m) . Pre-tax profits of £21.0m (2011: £23.3m) . Group operating profit of £23.9m (2011: £26.8m) . Radio GB operating profit up 5% to £13.0m (2011: £12.4m) . Excluding talkSPORT International, Radio GB operating profit up 12% . Continued reduction in net debt to £49.4m (2011: £54.7m) . Net finance costs down by 13% to £3.0m (2011: £3.5m) . Diluted adjusted earnings per share from continuing operations of 16.92p (2011: 18.96p) . Proposed final dividend of 5.25p resulting in a full year dividend growth of 17% to 7.00p (2011: 6.00p) * As appropriate, references to profit include associate income but exclude discontinued and exceptional items Operational Highlights . talkSPORT signed deal for Barclays Premier League worldwide audio broadcasting rights to 2016 . talkSPORT acquired worldwide commercial radio rights to FA Cup and Capital One Cup . Television and Radio Ireland revenues impacted by difficult economic conditions in Ireland . New Television Network Affiliate Agreement signed with ITV . Renewal process for Channel 3 Licence to 2024 agreed . Acquisition of Simply Zesty in March driving New Media revenue growth . Successful refinancing of bank facilities at competitive terms and pricing . Strong cash management and reduction in debt with Net Debt:EBITDA ratio of 1.91 times . Compliance with the provisions of the UK Corporate Governance Code following the appointment of a new Chairman and three new Non-Executive Directors to the UTV Board during the year John McCann, Group Chief Executive, UTV Media plc, said: “This is a robust performance in what continues to be a challenging economic environment, especially in Ireland. We have maintained effective control over costs coupled with strong cash management and continued debt reduction while at the same time maintaining the market leading positions enjoyed by our media assets. We have also continued to invest in the development of our businesses, in particular the establishment of talkSPORT International; concluded the Network Affiliate Agreement with ITV; acquired and integrated Simply Zesty and proceeded with the renewal of the Channel 3 TV licence. Reflecting our strong cash generation and our confidence in the future, we have increased the full year dividend by 17% and remain confident that the Group is well placed to maximise opportunities going forward.” 1 Key Dates . 16 May 2013 – Annual General Meeting & Interim Management Statement . 24 May 2013 – Record date for payment of dividends . 15 July 2013 – Payment of dividends . 27 August 2013 – Interim Results Announcement . 15 November 2013 – Interim Management Statement For further information contact: Maitland James Devas/Tom Buchanan +44 (0) 20 7379 5151 UTV Media plc John McCann, Group Chief Executive +44 (0) 28 9032 8122 Norman McKeown, Group Finance Director +44 (0) 28 9032 8122 Orla McKibbin, Head of Communications +44 (0) 28 9026 2188 Investor Enquiries www.utvmedia.com/investors 2 UTV Media plc Chairman’s Statement Introduction I am pleased to present my first Chairman’s Statement following my appointment on 30 July 2012. I was delighted and honoured to be appointed Chairman of your Company having admired its achievements for a number of years and I very much hope that my many years of media industry and plc board experience can bring long term benefit to the Company and its shareholders. The Group has a portfolio of high quality media assets in radio, television and digital media and a strong track record of outperformance. With revenues derived primarily from advertising and a fixed cost base, the businesses are strong cash flow generators and enjoy high levels of operational gearing. Advertising expenditure however, is closely aligned to the health of the economy and levels of consumer confidence. Football pundits on talkSPORT often refer to a “game of two halves”, meaning a game characterised by different fortunes in the first and second halves. To some extent, a similar sentiment applies to the advertising markets in which your Group operated in 2012. In particular, the positive effect of the Euro 2012 football tournament in the first six months was replaced by a lacklustre performance around the Olympics in the second half of the year. More generally, a stronger advertising market in the first half softened in the second six months to deliver an overall year on year performance which was slightly down but in line with market expectations. The volatile nature of the macroeconomic conditions continue to challenge all of us, but what remains constant, however, is the high quality of the leading media assets which the Group holds and which enable it to maintain a competitive advantage in the markets in which it operates. Results * A slight increase in Radio operating profit to £19.0m (2011: £18.9m) was more than offset by a fall in Television and New Media operating profits to £3.9m (2011: £6.4m) and £0.9m (2011: £1.5m) respectively. Group operating profit, therefore, was down 11 % at £23.9m (2011: £ 26.8m). After a net interest charge of £3.0m (2011: £3.5m) and foreign exchange of £0.2m (2011: £Nil). Group profit before tax and exceptional items was 10% lower than last year’s record £23.3m at £21.0m. Diluted adjusted earnings per share were 16.92p (2011: 18.96p). Refinancing In May 2012 we successfully refinanced our bank facilities for five years. The competitive margins and covenant headroom obtained reflect a highly cash generative business with a strong balance sheet. Dividend It is testament to the resilience of your company and the cash generative nature of its businesses that a dividend continued to be declared every year during the downturn despite the most difficult macroeconomic environment. For a few years that dividend was constrained by our objective to reduce debt. That objective still remains in place, but with net debt now some 54% lower than at 31 December 2008, and with our net debt/EBITDA ratio below 2 times, your Board believes that it is appropriate to continue with its progressive dividend policy while maintaining a due degree of prudence during uncertain economic conditions. Accordingly, your Board is recommending a final dividend of 5.25p per share making a total for the year of 7.00p, which represents an increase of 17% over last year and a 75% increase from 2010. The final dividend will be paid on 15 July 2013 to all shareholders on the Register at the close of business on 24 May 2013. Radio * Our Radio GB division performed well in 2012, with a 5% improvement in operating profit to £13.0m (2011: £12.4m). Within this, talkSPORT’s performance was particularly strong, again outperforming the market in revenue growth and increasing its contribution to the Group by 26% before accounting for the expected operating losses of £0.9m (2011: £Nil) in its new international division. This international division has extensive audio rights agreements with the Premier League, the Football Association and the Football League, enabling it to exploit those rights on all audio platforms throughout most of the world. talkSPORT content in English, Mandarin, Spanish and Bahasa Malay, can now be heard in many different countries on both radio and other digital platforms, extending the talkSPORT brand beyond the UK. That brand, supported by our investment in sports rights and presenters, is of course now a household name within the UK with over 3 million listeners in our domestic market tuning in every week to listen to talkSPORT’s unique style of sports commentary and analysis. * As appropriate, references to operating profit include associate income but exclude discontinued operations and exceptional items. 3 UTV Media plc Chairman’s Statement Our local radio stations in GB attract 1.2 million listeners weekly by focussing on providing local content. That local content is attractive not only to local listeners, but also to local advertisers, a fact which the Competition Commission noted recently in its preliminary findings on the Global/GMG merger. However, while local advertising in 2012 performed strongly for us, up by 9%, national advertising on our local radio stations didn’t fare as well, decreasing by 9%. The Irish advertising market has declined much more severely than the GB market in the last few years. This trend continued in 2012 when the radio market is believed to have been down by 7% to 10%. However, the worst effects of this further market deterioration were countered by the continuing strong outperformance of our local radio stations in Ireland which recorded only a 1% reduction in advertising revenue in local currency. Outperformance has been, and remains, the keynote of our radio assets in Ireland which enjoy market leading audience positions in the major cities in Ireland. The audiences from our stations are aggregated with those of two independent local stations to create an “Urban Access” package for advertisers which now provides greater daily reach than the State broadcaster’s top national radio channel. With this reach also concentrated in the urban areas, we are able to provide a unique and attractive marketing proposition for our advertisers which drives our outperformance of the market. Adverse movements in the currency exchange rate resulted in our sterling-denominated Irish radio advertising revenue decreasing by 7%. As a consequence Radio Ireland operating profit was also down by 7% to £6.0m (2011: £ 6.4m). Television Two important long term strategic objectives were secured during the year. Firstly, in March we signed a new Network Affiliate Agreement with ITV plc which provides a stable commercial basis for the delivery of services, including programmes and new media, for the Channel 3 network.
Load more

Recommended publications
  • Media Nations 2019
    Media nations: UK 2019 Published 7 August 2019 Overview This is Ofcom’s second annual Media Nations report. It reviews key trends in the television and online video sectors as well as the radio and other audio sectors. Accompanying this narrative report is an interactive report which includes an extensive range of data. There are also separate reports for Northern Ireland, Scotland and Wales. The Media Nations report is a reference publication for industry, policy makers, academics and consumers. This year’s publication is particularly important as it provides evidence to inform discussions around the future of public service broadcasting, supporting the nationwide forum which Ofcom launched in July 2019: Small Screen: Big Debate. We publish this report to support our regulatory goal to research markets and to remain at the forefront of technological understanding. It addresses the requirement to undertake and make public our consumer research (as set out in Sections 14 and 15 of the Communications Act 2003). It also meets the requirements on Ofcom under Section 358 of the Communications Act 2003 to publish an annual factual and statistical report on the TV and radio sector. This year we have structured the findings into four chapters. • The total video chapter looks at trends across all types of video including traditional broadcast TV, video-on-demand services and online video. • In the second chapter, we take a deeper look at public service broadcasting and some wider aspects of broadcast TV. • The third chapter is about online video. This is where we examine in greater depth subscription video on demand and YouTube.
    [Show full text]
  • DJ Tiiny, Capital XTRA, Various Dates, 1900
    v Issue 424 12 April 2021 DJ Tiiny Type of case Broadcast Standards Outcome Resolved Service Capital XTRA Date & time Various dates, 19:00 Category Commercial communications on radio Summary The presenter played music tracks in return for payment. The Broadcasting Code prohibits any payment that may influence the selection or rotation of music for broadcast. In view of the action taken by the Licensee when it became aware of the presenter’s actions, we considered the matter resolved. Introduction Capital XTRA is a local radio station providing an urban contemporary black music service for African and Afro-Caribbean communities in North London. It is simulcast nationally on DAB, satellite and cable services. Capital XTRA’s licence is held by Capital Xtra Limited, which is owned by Global Media & Entertainment Limited (“Global”). DJ Tiiny was a show broadcast weekly on Friday evenings. A complainant alleged that the presenter played some artists’ music tracks in return for payment. Global contacted Ofcom and confirmed the allegation, saying that it had been alerted to the matter on 27 January 2021 and that the presenter’s contract of employment had been terminated the following day. Ofcom considered the matter raised potential issues under the following Code rule: Rule 10.5: “No commercial arrangement that involves payment, or the provision of some other valuable consideration, to the broadcaster may influence the selection or rotation of music for broadcast”. Issue 424 of Ofcom’s Broadcast and On Demand Bulletin 12 April 2021 1 We therefore requested comments from Global on how programmes in which the presenter had played music tracks in return for payment complied with this rule.
    [Show full text]
  • Introduction to Ascential Our Investment Case
    INTRODUCTION TO ASCENTIAL OUR INVESTMENT CASE Clear long-term vision. Helping leading global brands connect with their customers in a data-driven world. Structural growth. Demand for information, data & analytics driven by growth of digital commerce. Market leaders. We are leaders, with a unique blend of specialisms, in the high growth areas in which we operate. Robust business model. High recurring and repeat revenue, with more than 50% revenues from digital subscription and platforms, across diverse global customer base. Attractive financial profile. Track record of high single digit revenue growth, strong margins and cash generation, supported by sound capital allocation. Introduction to Ascential 2 OUR CUSTOMER PROPOSITION Our information products and platforms support our customers to do three simple things… CREATE THE RIGHT MAXIMISE THE OPTIMISE DIGITAL PRODUCTS BRAND MARKETING COMMERCE IMPACT Know which products Know how to get Know how to execute the consumer wants maximum creativity with with excellence on the tomorrow. optimised media. winning platforms. 1. 2. 3. Introduction to Ascential 3 SEGMENTAL OVERVIEW –2019 Segment Revenue % Revenue1 Growth1 EBITDA2 Margin Business Model Advisory 10% Digital Subscriptions Product £86m 21% +8% £36m 42% & Platforms 90% Design Digital Subscriptions Advisory & Platforms 11% Marketing £136m 32% +9% £51m 37% 37% Events 52% Advisory 6% Digital Subscriptions & Sales - Platforms 94% Digital £90m 22% +21% £13m 15% Commerce Sales - Digital Subscriptions & Events Platforms 4% Non Digital £68m 16%
    [Show full text]
  • BT Group (WACC Response, Oxera Report)
    Quantifying the relative risk differences between FTTP and FTTC Prepared for BT Group plc 14 January 2021 Final: public www.oxera.com Final: public Quantifying the relative risk differences between FTTP and FTTC Oxera Contents 1 Introduction 2 1.1 Summary of main findings 2 1.2 Structure of the report 3 2 Ofcom’s proposals on WACC and relative systematic risk differentials 4 2.1 Theoretical support for differences in systematic risk 4 2.2 Overview of Ofcom’s analysis and proposals 7 3 Income elasticities and asset betas 10 3.1 BT consumer experiment and income elasticities 10 3.2 Calculating the relationship between income elasticity and asset beta 12 3.3 Predicting the asset beta wedge between FTTC and FTTP 13 3.4 Conclusions 15 4 Conclusion 16 A1 Details of consumer choice experiment 17 Boxes, figures and tables Box 2.1 Illustration of the relationship between operating leverage and systematic risk 6 Table 2.1 Summary of Ofcom’s proposals 9 Box 3.1 The field experiment commissioned by BT 10 Table 3.1 FTTP regression coefficients 11 Table 3.2 FTTC regression coefficients 11 Table 3.3 Projection of income elasticity for copper 12 Table 3.4 US panel regression’s results 13 Table 3.5 Estimated asset beta wedge due to income elasticity 14 Table A1.1 FTTC’s products summary statistics 17 Table A1.2 FTTP’s products summary statistics 17 Table A1.3 Respondents’ income in FTTC survey 18 Table A1.4 Respondents’ income in FTTP survey 18 Final: public Quantifying the relative risk differences between FTTP and FTTC 2 Oxera 1 Introduction Oxera has
    [Show full text]
  • Resolution No. 118 Authorizing an Agreement with Insite Wireless Group for Distributed Antenna System for the Times Union Center
    RESOLUTION NO. 118 AUTHORIZING AN AGREEMENT WITH INSITE WIRELESS GROUP FOR DISTRIBUTED ANTENNA SYSTEM FOR THE TIMES UNION CENTER Introduced: 4/12/17 By Civic Center Committee: WHEREAS, The Department of General Services through the Purchasing Agent issued a Request for Proposals regarding a Distributed Antenna System (DAS) for the Times Union Center, and WHEREAS, Four Proposals were received and representatives of the Department of General Services reviewed said Proposals and recommended awarding the contract to InSite Wireless Group as the lowest responsible bidder, and WHEREAS, The Commissioner of the Department of General Services indicated that the Times Union Center and Albany Capital Center will split the projected revenues of $500,000 over a ten year period, guaranteed by InSite Wireless Group with the Times Union Center will retain seventy-five percent of revenues and the Albany Capital Center will retain twenty-five percent of revenues collected and paid by InSite Wireless Group, and WHEREAS, The Commissioner of the Department of General Services has proposed to enter into an agreement with InSite Wireless Group for the DAS project to combine services at the Times Union Center and the Albany Capital Center with InSite Wireless Group is responsible for funding of the project, now, therefore be it RESOLVED, By the Albany County Legislature that the County Executive is authorized to enter into an agreement with InSite Wireless Group regarding a Distributed Antenna System, in collaboration with the Times Union Center and Albany Capital Center for a term commencing May 1, 2017 and ending April 30, 2027, and, be it further RESOLVED, That the County Attorney is authorized to approve said agreement as to form and content, and, be it further RESOLVED, That the Clerk of the County Legislature is directed to forward certified copies of this resolution to the appropriate County Officials.
    [Show full text]
  • FTSE Factsheet
    FTSE COMPANY REPORT Share price analysis relative to sector and index performance Data as at: 14 September 2016 CDialogues CDOG Media — GBP 0.65 at close 14 September 2016 Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 14-Sep-2016 14-Sep-2016 14-Sep-2016 3.5 100 100 1D WTD MTD YTD 90 90 Absolute 31.3 31.3 31.3 -23.5 3 Rel.Sector 31.5 33.0 33.2 -24.0 80 80 Rel.Market 31.2 33.3 33.2 -27.8 2.5 70 70 60 60 VALUATION 2 (local currency) (local 50 50 Trailing 1.5 Relative Price 40 Relative Price 40 PE 2.8 30 30 Absolute Price Price Absolute 1 EV/EBITDA - 20 20 0.5 PCF 1.0 10 10 PB 0.5 0 0 0 Price/Sales 0.3 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Div Yield - Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Div Payout 29.4 100 100 100 ROE 17.7 90 90 90 Net Debt/Equity 0.0 80 80 80 70 70 70 60 60 60 DESCRIPTION 50 50 50 The principal activity of the Company is provides 40 40 40 RSI (Absolute) RSI specialised marketing services to mobile network 30 30 30 operators ("MNOs" ), with a particular focus on 20 20 20 emerging markets.
    [Show full text]
  • Capital Birmingham Should Not Be Allowed to Make the Changes to The
    Spence, Mr Consultation question: Should regional radio station Capital FM (Birmingham) be permitted to make the changes to its Character of Service as proposed with particular regard to the statutory criteria as set out in the summary? (The Broadcasting Act 1990 Section 106 (1A) (b) and (d) relating to Format changes). Capital Birmingham should not be allowed to make the changes to the Character of Service as this would essentially change the station from am urban/black music station to a hit music station format which can potentially stop playing urban music if they wanted to if in the future it becomes less mainstream. The format change represents a real danger to the radio landscape in Birmingham as it can so significantly reduce the choice of music available in the area over time. It will make the station sound too similar to it's main competitors in the area on FM. I am not happy with the decision in particular to remove the commitment to listeners of African or Afro-Caribbean origin in terms of content and music. I do not believe the music output of Capital Birmingham should be allowed to be aligned to that of Yorkshire or London without a readvertisement of the license as the change requested is far too significant. I believe that the format must retain the words 'URBAN CONTEMPORARY BLACK MUSIC' and 'REGGAE, RnB AND HIP HOP' in order to be an acceptable request. The new requested format is already provided in much better quality by BBC Radio 1. I am not happy with the way the station has been allowed to gradually change from Choice FM in the mid 90s to the present day Capital FM with such a dramatic change in music output despite only slight changes to the official OFCOM agreed station format, while Choice London and Capital FM co-exist in London providing 2 very different sounding services.
    [Show full text]
  • Ofcom Audio Survey 2021: Questionnaire
    Survey name: Ofcom Audio Survey 2021 Timings: 3-7 March 2021 Methodology: Online survey We are conducting research on behalf of the UK's communications regulator Ofcom, who are looking to understand use of and attitudes towards different types of radio and audio services. ASK ALL 1. How often, if at all, do you do any of the following? GRID ROWS – RANDOMISE ORDER 1. A. Listen to radio (at the time of broadcast: not catch-up/podcast) 2. B. Listen to catch-up radio 3. C. Listen to music online 4. D. Listen to music stored or downloaded on a device 5. E. Listen to personal music collection (e.g. CDs, vinyls) 6. F. Listen to podcasts 7. G. Listen to audiobooks (digital/online and physical) 8. H. Use music videos as background listening (i.e. music video channels or sites such as YouTube or MTV) 9. GRID COLUMNS – SINGLE CODE 1. Several times a day 2. About once a day 3. Several times a week 4. About once a week 5. Several times a month 6. About once a month 7. Less often 8. Never ASK ALL (BACK FILTER ANYONE WHO LISTS A STATION HERE BUT DID NOT CODE ‘A RADIO STATION’ IN Q1) 2. Which, if any, of these radio stations have you listened to in the last 7 days? MULTICODE BBC Radio 1 BBC Radio 2 BBC Radio 3 BBC Radio 4 BBC Radio 5 live BBC 6 Music BBC Asian Network BBC Radio 1Xtra BBC Radio 4 Extra BBC Radio 5 live sports extra BBC World Service BBC radio for your nation / region (e.g.
    [Show full text]
  • Industry Outlook
    Industry outlook 39 Resilience, recovery, acceleration by Sir Martin Sorrell S4Capital Annual Report and Accounts 2020 37 Industry outlook 38 S4Capital Annual Report and Accounts 2020 2 Digital adoption has accelerated On the whole, covid-19 didn’t create Resilience, new trends; it accelerated existing ones. Digital adoption was stepped up by consumers. During the early days of the pandemic some 30% of US households recover y, went online for groceries for the first time; online education took off; and streaming went through the roof. Disney+ was targeting 70-80 million consumers by 2024, but it acceleration rapidly went to 100 million (and forecasts 240 million for 2024) and found itself competing with Netflix. By Sir Martin Sorrell Alan Jope tells the story that when he was running Unilever in China during the SARS outbreak, there was this massive surge among You have to find the silver linings Chinese online; in 2020 we saw a similarity The nature of our client base contributed when Nike gave away their fitness app to significantly to our resilience during the the Chinese consumer for free – it sparked a pandemic. Technology and healthcare significant uptick in online activity. together account for more than half of our The tech giants, whether Google, Facebook client spend and those were sectors that and Amazon, or Alibaba, Tencent and Tik- didn’t stop their marketing and in some Tok are all set to emerge from the pandemic cases reinforced it. Our people played a huge stronger than ever. Digital adoption has part; they are entrepreneurial and can turn also been stepped up at enterprise level.
    [Show full text]
  • Public Investment Memorandum
    COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLOYEES’ RETIREMENT SYSTEM Public Investment Memorandum LBC - PSERS Credit Fund, L.P. High Yield Commitment James F. Del Gaudio Senior Investment Professional November 20, 2015 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLOYEES’ RETIREMENT SYSTEM Recommendation: Staff, together with Portfolio Advisors, recommends the Board commit up to $350 million to LBC - PSERS Credit Fund, L.P. (the “Fund”). The Fund will be structured as a separately managed account and is being raised in conjunction with LBC Credit Partners IV, L.P. (“Fund IV”), a commingled fund. The Fund will continue the investment strategy of LBC Credit Management, L.P. (“LBC” or the “Firm”). It is anticipated that the Fund will co-invest with Fund IV and its future successor funds on a pro-rata basis. Firm Overview: LBC was co-founded in 2005 by John Brignola, Christopher Calabrese, Nathaniel Cohen and Ira M. Lubert to provide financing solutions to North American middle market companies. The Firm is headquartered in Philadelphia, and employs 21 investment professionals. Today, LBC manages over $1.75 billion of capital commitments and has invested ~$3.5 billion (including leverage) across three investments funds: Commitments Fund Vintage ($mm) LBC Credit Partners, L.P. (“Fund I”) 2005 $300 LBC Credit Partners II, L.P. (“Fund II”) 2008 $642 LBC Credit Partners III, L.P. (“Fund III”) 2013 $839 Investment Strategy: The Fund will originate and manage a diversified portfolio of secured, middle market loans to North American borrowers. LBC defines middle market companies as those with revenues of typically less than $750 million and EBITDA of $5 million to $50 million.
    [Show full text]
  • New York City, the Podcasting Capital
    NEW YORK CITY, THE PODCASTING CAPITAL TABLE OF CONTENTS 3 EXECUTIVE SUMMARY 7 INTRODUCTION 9 A BRIEF HISTORY OF THE PODCAST 11 NATIONAL LANDSCAPE OF PODCASTING 12 PODCAST GROWTH 14 ADVERTISING 15 THE IMPACT OF PODCAST ADVERTISING 16 ADVERTISING MODELS IN PODCASTING 17 PRICING MODEL 18 ADVERTISING TECHNOLOGY 19 NEW YORK CITY, THE CAPITAL OF PODCASTING 20 NEW YORK CITY’S PODCAST NETWORKS 22 NEW YORK CITY PODCAST INDUSTRY GROWTH 23 THE NEW YORK CITY PODCAST COMMUNITY 24 INCREASING DIVERSITY IN NEW YORK CITY PODCASTING 26 TECHNOLOGY 28 THE FUTURE OF PODCASTING 30 CONCLUSION 31 PODCASTERS’ FAVORITE PODCASTS 32 REFERENCES 33 ACKNOWLEDGEMENTS EXECUTIVE SUMMARY Podcasts are the newest form of the oldest entertainment medium: storytelling. Today’s podcasts are a major forum for the exchange of ideas, and many are calling this time the “renaissance of podcasting.” Born out of the marriage of public radio and the internet, podcasting has adapted to follow modern consumption patterns and the high demand for readily accessible entertainment. Podcasts are making New York City their home. The density of advertising firms, technology companies, major brands, digital media organizations, and talent has established New York City as the epicenter of the burgeoning podcast industry. New York City is home to the fastest growing podcast startups, which have doubled, tripled, and quadrupled their size in the past several years – in employment, office space, and listenership. New York City’s podcast networks are growing rapidly, reflecting the huge national audience of 42 million weekly listeners. Employment at the top New York City podcast networks has increased over the past several years, from about 450 people in 2015 to about 600 people in early 2017.
    [Show full text]
  • Bauer Media Group Phase 1 Decision
    Completed acquisitions by Bauer Media Group of certain businesses of Celador Entertainment Limited, Lincs FM Group Limited and Wireless Group Limited, as well as the entire business of UKRD Group Limited Decision on relevant merger situation and substantial lessening of competition ME/6809/19; ME/6810/19; ME/6811/19; and ME/6812/19 The CMA’s decision on reference under section 22(1) of the Enterprise Act 2002 given on 24 July 2019. Full text of the decision published on 30 August 2019. Please note that [] indicates figures or text which have been deleted or replaced in ranges at the request of the parties or third parties for reasons of commercial confidentiality. SUMMARY 1. Between 31 January 2019 and 31 March 2019 Heinrich Bauer Verlag KG (trading as Bauer Media Group (Bauer)), through subsidiaries, bought: (a) From Celador Entertainment Limited (Celador), 16 local radio stations and associated local FM radio licences (the Celador Acquisition); (b) From Lincs FM Group Limited (Lincs), nine local radio stations and associated local FM radio licences, a [] interest in an additional local radio station and associated licences, and interests in the Lincolnshire [] and Suffolk [] digital multiplexes (the Lincs Acquisition); (c) From The Wireless Group Limited (Wireless), 12 local radio stations and associated local FM radio licences, as well as digital multiplexes in Stoke, Swansea and Bradford (the Wireless Acquisition); and (d) The entire issued share capital of UKRD Group Limited (UKRD) and all of UKRD’s assets, namely ten local radio stations and the associated local 1 FM radio licences, interests in local multiplexes, and UKRD’s 50% interest in First Radio Sales (FRS) (the UKRD Acquisition).
    [Show full text]