MEDIABLAB DAILY DIGEST OCT 27: AUSSIE FEMALE TV REPORTER FAILS F...ABILITY QUOTIENT
October 26th 2008 14:27
AUSTRALIAN TV REPORTER AWARDED SIX FIGURE CONTRACT BREACH SETTLEMENT AFTER BEING TOLD SHE LACKED “F….ABILITY”
The Australian reports that dumped TV Channel Nine Network reporter Christine Spiteri received a “six figure settlement” from the company, as approved by the Federal Court.
Legal representatives for both sides were in court in Sydney on Friday to have the private settlement of the case approved by Justice Richard Edmonds during a consent hearing.
Spiteri, 40, the television network's former Los Angeles correspondent, sought damages of more than $500,000 from Nine in relation to breach of contract and trade practices claims.
Spiteri says the network breached her employment contract when it effectively sacked her at the end of last year.
In her statement of claim, she alleged Nine's news director John Westacott told her: "To make it in this industry, you gotta have f...ability. To make it in this game, women have to be f...able."
Various attempts to unseat her from the US posting, including broken promises of a newsreader role, followed, she has previously alleged.
THAILAND’S LISTED BROADCASTER TO INCREASE ITS ENTERTAINMENT PROGRAMMING TO ATTRACT MORE ADS
Thailand’s listed broadcaster MCOT Plc will probably increase entertainment on Modern Nine TV to 40 percent of total programming next year, allowing the company to attract more advertising.
The Bangkok Post reports that Kematat Paladesh, vice-president for marketing, said entertainment content would rise from 30 percent, up from 24 percent the first half of this year.
"We have to increase something in entertainment as it generates revenues better than other content," he said, adding that many media firms were already experiencing hard times.
He said MCOT executives believed the world financial crisis would have an impact in the coming year and TV advertising budgets could be cut since television is the most expensive medium.
Mr Kematat said the TV industry was witnessing falling ad spending already, and that MCOT's third-quarter performance was not as good as in the previous year. He declined to give details pending the formal report of earnings to the Stock Exchange of Thailand.
Nielsen Media Research reported total advertising spending in the first nine month of the year fell by 1.5 percent year-on-year. Last year, ad spending rose 2.5 percent from 2006.
Kematat said Modern Nine would differentiate its entertainment programs from that of Channels 7 and 3, the two biggest players in the market.
MCOT could not compete with the soap operas that have been so successful for the rivals over two decades. "Our sort of entertainment is something that the whole family can sit down and enjoy it. It would be fun and educational at the same time," he said.
The Bangkok Post reported, “MCOT imports some TV "edutainment" programs from Japan and South Korea and focuses on seasonal reality shows such as Super Star and Academy Fantasia. It may have more reality shows next year.
“News is still its core content.”
In the first half, MCOT reported 20 percent growth year-on-year in total revenue, and net profit rose by 36 percent.
APN NEWS BOSS SIGNING UP FOR THREE MORE YEARS AT THE HELM IN AUSTRALIA
APN News & Media chief Brendan Hopkins has added three more years to his contract and defied market talk that he is about to leave Australia, signing up for a new three-year contract when his contract expires in April next year.
The Australian reported that there had been speculation that Hopkins, who has been on secondment from Irish media giant Independent News & Media (APN's dominant shareholder, with more than 40 percent), would return to the parent company at the end of his contract.
But these rumours were "premature", Hopkins said. "The board of APN acts on behalf of all shareholders and has asked me to extend my tenure. I've thought about it long and hard and I've agreed to do so."
In the 2007 year, he was paid a base salary of A$1.67 million, with other benefits, including options issued to him, taking his total package to $3.59 million.
VIRGIN RADIO BREAKFAST SHOW HOST IN DUBAI FIRED FOR ON-AIR OFFENSIVENESS
Virgin Radio DJ Revin John has been fired from his Dubai breakfast radio show, after he outraged listeners by reading an offensive article on-air.
Mahmoud Al-Rasheed, general manager of Arab Radio Network, told Arabian Business magazine that the presenter had been asked to leave for “inappropriate on-air conduct”.
“Arabian Radio Network has continuously maintained that it is a company that respects the cultures and traditions of all religions.
“The unfortunate incident that took place was one that does not in any way reflect the opinions, values or standards of ARN, but was a mistake by one of our employees. In line with our commitment to respect our listenership, we saw fit to let go of the presenter,” Al-Rasheed said.
John, who is originally from South Africa, had read an article from a US newspaper which was offensive for religious reasons, according to the statement from Arab Radio Network.
Viewers of various faiths and nationalities had subsequently complained to the station, stating they were "uncomfortable" with the broadcast.
The sacking follows an interview John gave with Dubai newspaper Gulf News in June, in which he said he had “studied the Middle Eastern market thoroughly” before his arrival.
“The sensibilities of a listener in Dubai and the boundaries of what's acceptable and what's not were looked into,” he told the newspaper.
Virgin Radio Dubai launched earlier this year, and is the first Middle East branch of Sir Richard Branson’s radio network.
SINGAPORE PUBLISHER PLANS TO LAUNCH LUXURY MAGAZINE IN NEW YORK
Folio reports that it may be late 2009 before the economy recovers enough for new consumer magazines in the US, but a Singapore publisher is betting the luxury magazine market is stable enough to launch one in February.
CR Media plans to introduce Prestige New York, a US version of its Prestige Singapore flagship.
Folio said,. “Editorial will include the predictable mix of city society leaders, entrepreneurs, philanthropists, politicians and innovators, but with an atypical international flavour. The monthly will target "high net worth individuals" with controlled circulation of 50,000.
Finding advertisers may prove problematical: ad pages for the Robb Report and Departures magazines, both aimed at wealthy readers, were down about 5 percent. But luxury title Executive Travel SkyGuide saw a 13.4 percent jump.
US NEWSPAPER PUBLISHER GANNET SEES NET INCOME DROP BY ALMOST A THIRD
The Wall Street Journal reported that US newspaper publisher Gannett's third-quarter net income slid 32 percent as the media company grappled with slumping advertising sales and higher newsprint prices. Publishing-ad revenue dropped 18 percent, a bigger decline than recent quarters. Broadcasting revenue increased 3.9 percent, with boosts from political ads.
WALT DISNEY’S ESPN TO GIVE PART-MURDOCH-OWNED PREMIERE TV IN GERMANY A RUN FOR ITS MONEY OVER FOOTBALL COVERAGE
Bloomberg reports that Walt Disney Co, the second-largest US media company, will bid for the live pay-TV broadcast rights to Germany's top soccer games and would start a local ESPN sports channel to broadcast the matches.
Disney is in talks with German cable companies including Kabel Deutschland GmbH, Kabel Baden-Wuerttemberg GmbH and Unity Media GmbH to distribute a potential German-language ESPN channel for Bundesliga football games.
Disney owns 80 percent of ESPN.
A bid for top German matches would pit ESPN, the most- watched sports TV network in the US, against local pay-TV operator Premiere AG, in which Rupert Murdoch’s New Corp owns 25 percent.
Premiere shows Bundesliga games under a sublicensing deal with Unity Media that runs through the 2008-2009 season and relies on the rights to attract subscribers.
AUSTRALIAN BROADCASTING CORP PROGRAM ABOUT TWO AUSSIE DEMINERS IN CAMBODIA WINS UN MEDIA PEACE AWARD
An Australian Broadcasting Corporation television program about two traumatised Vietnam veterans on a mission to deactivate mines in Cambodia has won an United Nations Media Peace Award.
Bomber and Roy is the story of veterans, Tony "Bomber" Bower-Miles and Roy Chamberlain, who made peace with their difficult lives by deactivating Cambodian mines.
The UN Media Peace Award was presented to ABC TV's Australian Story for their portrayal of the pair, which depicted positive images of ageing and older people
Ms Neville said the pair were powerful role models for older people and the unexpected benefit of volunteering in later years.
The United Nations Media Peace Awards aim to promote understanding and awareness about humanitarian and social justice issues, and the values of peace, cooperation and mediation rather than conflict and violence.
AUSTRALIAN MEDIA COMPANY SHARES HEADED SOUTH ON FRIDAY
Shares in many Australian media companies dropped to new lows on Friday as a leading analyst slashed target price estimates on top stocks.
Chief media analyst for Goldman Sachs JBWere, Christian Guerra, predicted a much worse ad market outlook for most sections of the media – including metropolitan newspapers, the web and free-to-air TV.
For the 2009 financial year, Guerra is now forecasting a 7.9 percent decline in the metropolitan newspaper ad market, a 6.6 percent fall in free-to-air TV ads, and a near-halving of his previous estimates for "new media" ad growth to 9.9 percent. He has also cut his target price for virtually all major local media stocks, by 10-35 percent.
Guerra's forecast for total media sector advertising for the 2009 financial year has also entered negative territory for the first time. His previous prediction of 0.4 percent growth has been downgraded to a 2.7 percent fall. He has also lowered his expectation for growth in ads in the 2010 financial year from 6.2 percent to 4.2 percent.
Guerra also extended the time frame for his bearishness. "It is important to note we have downgraded our ad market forecasts for both financial year 09 and financial year 10," he said.
"We had previously assumed financial year 09 would be a cyclical low for the ad market. We now see a real prospect of the contagion spreading into financial year 10."
FIJI TV LTD WINS BUSINESS EXCELLENCE AWARD
Fiji Television Limited has won an award for achievement in business excellence, as part of the Training and Productivity of Fiji Business Excellence Awards.
Fiji TV's outgoing group ceo, Mesake Nawari, described the award as another milestone for Fiji TV and dedicated it to all the members of the Fiji TV group family.
He said, “This is the first time Fiji TV has taken part and we decided to enter to allow an independent party to assess our business processes and change that we have been implementing over the last five years and to give us feedback for improvement.
Training and Productivity of Fiji’s manager for productivity promotion, Villiame Waqalaivi, said it was the first time a media organisation had won a Fiji Business Excellence Award.
ASSOCIATED PRESS BOWS TO PRESSURE FROM MEMBER NEWSPAPERS AND LOWERS RATES
The Associated Press announced on Thursday that it will offer new price discounts to newspapers and remove restrictions on the articles they receive, in response to news that some newspapers might leave the cooperative.
The New York Times reports that many newspapers have complained about the prices charged by the AP, a non-profit corporation owned by the more than 1,400 American newspapers that are its members.
After holding prices flat for two years, AP proposed a price structure that it said would save members an average of 10 percent next year. That system offered members a basic package of written material or, for a higher price, access to all AP articles.
On Thursday, the AP board of directors, meeting in New York, decided to give the broader package to all members at the lower price. A small number of papers would have had a price increase under the new system, and the board voted to hold their rates flat, instead.
The company said the changes would raise the aggregate savings to newspapers from US$21 million a year under the previous plan, to US$30 million.
The board will also consider whether to change a policy that some newspapers have protested, which requires them to give two years' notice of their intent to drop the service.
PHILIPPINE BROADCASTER GMA POSTS TEN PERCENT INCOME INCREASE
Philippine broadcaster GMA net income from January to September this year rose 10 percent to US$40 million, the Business Mirror reports.
The expanded figure, according to key officials, was bolstered by steady growth in ad revenue.
Felipe S Yalong, a senior vice president, said there had been a slowdown in big advertisers but that non-volume ads such as those for health products had posted a 40 percent increase.
With the ad revenue growth, the company’s gross revenue reached a new high of US$193 million, 6 percent higher than for the same period last year.
The network’s international channels had also increased their subscribers internationally.
By the end of September, GMA Pinoy TV (GPTV) had generated around 193 thousand subscribers, while GMA Life TV (GLTV) had around 45 thousand subscribers.
NEW ZEALAND TV AND FILM COLLECTION NOW ONLINE
An online collection of New Zealand television and film content has now been made available, Scoop.co.nz reports.
NZ On Screen, conceived and funded by NZ On Air, a government body, is a continually evolving showcase of New Zealand television and film.
It provides video clips from programs and movies, and at times entire programs, as well as commentary about the programs, their makers, and their place in New Zealand’s screen culture history.
The site was launched today by Broadcasting Minister Trevor Mallard. At launch, the site has more than 250 titles and accompanying content, with more being added all the time.
NZ On Screen manager, Brenda Leeuwenberg, said the site was unique in that it featured content from a wide range of program makers, channels and genres.
MECOM INTERIM STATEMENT WARNS OF REVENUE DROP OF 2.6 PERCENT
UK-based giant media conglomerate Mecom Group plc issued an interim management statement for the three month period to September 30, 2008.
Group revenues on a like-for-like basis in the three month period to September 30 were down 2.6 percent. Revenues in July and August are seasonally lower than in September, reflecting the effect of continental summer holidays. Unless stated otherwise, all numbers and comments thereon are on a like-for-like basis that is as if Mecom had owned all the divisions for the entire periods (stated at constant currency, at average year-to-date 2008 exchange rates).
Advertising revenues in the three months to September 2008 were down 7.2 percent on an aggregated basis, most markedly in the month of September (down 9 percent). Against a weakening market, advertising revenues have been supported by growth in lower margin specials and inserts business and growing digital revenues from both organic and acquired businesses.
Circulation revenues in the three month period were up 4 percent, reflecting cover price rises, and other revenues were down 3.3 percent, due to contracting third party print and distribution volumes.
On a Group like-for-like basis year-to-date EBITDA is modestly behind the prior year.
David Montgomery, executive chairman of Mecom said, “The deterioration in global economic activity is being reflected in a recent slowdown in advertising performance and a weakening in the market outlook. We remain confident that Mecom's operating model is the right one and progress continues to be made in restructuring the cost base and developing new revenue streams.”
ONLINE POLLS SHOW MOST CHINESE SUPPORT OBAMA FOR US PRESIDENCY
An online poll conducted on China Daily’s website by the US embassy, shows Barak Obama enjoys the support of 75 percent among the Chinese.
A Horizon Research survey released Wednesday showed about 35.5 percent Chinese “pay close attention” to the US presidential race. Even among these people, Obama’s supporters exceed McCain’s by 17.8 percent,
“The most impressive thing is the Chinese people’s strong backing for Obama,” Song Zhiyuan, who analysed the survey results, said.
“Perhaps his age, energy, and even complexion, which signify the US dream, are more appealing to the Chinese,” Song said.
Statistics show Obama was favoured more than McCain by each of the target groups, which were divided according to gender, age, income and educational qualification.
Horizon Research received 2,791 effective answers to its questionnaire from people aged between 18 and 60 in seven big cities and seven towns.
HARPER’S BAZAAR CLOSES TWO MAJOR US WEST COAST SALES OFFICES
Harper's Bazaar closed its Los Angeles and San Francisco sales offices last week and hired an outside firm to handle ad sales on the US west coast. The week before, the magazine trimmed positions in its merchandising division.
Women’s Wear Daily reports that no sales jobs for the magazine in New York were affected.
Hearst is joining other publishers in trying to trim its cost structure. President Cathie Black is going "floor by floor" at the Hearst Tower to trim costs – and staff – here possible. The magazine supposedly has a target of $1 million in budget cuts.
CHINESE SEARCH ENGINE BAIDU POSTS 91 PERCENT NET PROFIT RISE
Chinese search engine Baidu posted a 91 percent rise in year-on-year net profit in its third-quarter report.
Baidu’s revenues from July to September reached US$135.4 million, an increase of more than 85 percent from the same period last year.
Net income increased to $51.2 million in the third quarter, up by 91.4 percent from 2007’s third quarter.
Media Asia reported, “Baidu attributed its stellar growth to an increase in the number of active online marketing customers and revenue per customer.”
The number of Baidu’s active online marketing customers increased by 7.2 percent from the second quarter to more than 194,000, and revenue per active online marketing customer rose by 34.3 percent from last year.
Robin Li, Baidu’s chairman and ceo said, “As China’s leader in paid search, Baidu has a large and diverse customer base covering numerous industries and sectors. Such diversity gives us great stability and positions us to capture future growth.
“Companies throughout China are increasingly recognising the value of Baidu's paid search as an effective marketing tool and we remain confident in our long-term growth potential.”
RUSSIAN COMMUNICATIONS MINISTER SAID IT IS HARD TO FIND USEFUL INFORMATION IN THE MEDIA
Russian Minister of Mass Communications Alexander Jarov said that even though the media is expanding in the country, it is getting harder to find useful information.
According to gipp.ru, He suggested that media outlets in the country may not know how to deal with news, although they may be living in the information age.
He said it is necessary to properly regulate the flow of content and to control false information, including extremism and pornography.
Meanwhile, Russian newspaper Trud, reports that print journalism is on the list of the ten least demanded professions during the financial crisis that is affecting numerous countries in the world.
Trud revealed that the reason for the phenomenon is that print publications tend to experience profit losses instead of gains. For businesses, print outlets more often than not appear as having less valuable assets. Some titles may soon be shut down, Trud said.
Other undesirable professions in Russia include banking specialists, real estate brokers and social specialists.
JAPANESE SOCIAL NETWORK LEADER LAUNCHES MANDARIN-LANGUAGE SITE IN CHINA
Japanese social network leader Mixi.com has launched a localised, Mandarin-language site in mainland China.
Media Asia said that Mixi had announced its planned launch in February along with plans to open a head office in Shanghai by the spring.
According to a Miki spokeswoman at the time, China – although a notoriously difficult market to penetrate – was attractive to the Japanese company because it is the fastest-growing major internet market in the world.
Mixi.cn supports blogs, photos and messaging.
Mixi claims 12 million page views a month in Japan and hosts more than 13 million users.
The Australian reports that dumped TV Channel Nine Network reporter Christine Spiteri received a “six figure settlement” from the company, as approved by the Federal Court.
Legal representatives for both sides were in court in Sydney on Friday to have the private settlement of the case approved by Justice Richard Edmonds during a consent hearing.
Spiteri, 40, the television network's former Los Angeles correspondent, sought damages of more than $500,000 from Nine in relation to breach of contract and trade practices claims.
In her statement of claim, she alleged Nine's news director John Westacott told her: "To make it in this industry, you gotta have f...ability. To make it in this game, women have to be f...able."
Various attempts to unseat her from the US posting, including broken promises of a newsreader role, followed, she has previously alleged.
THAILAND’S LISTED BROADCASTER TO INCREASE ITS ENTERTAINMENT PROGRAMMING TO ATTRACT MORE ADS
Thailand’s listed broadcaster MCOT Plc will probably increase entertainment on Modern Nine TV to 40 percent of total programming next year, allowing the company to attract more advertising.
The Bangkok Post reports that Kematat Paladesh, vice-president for marketing, said entertainment content would rise from 30 percent, up from 24 percent the first half of this year.
"We have to increase something in entertainment as it generates revenues better than other content," he said, adding that many media firms were already experiencing hard times.
Mr Kematat said the TV industry was witnessing falling ad spending already, and that MCOT's third-quarter performance was not as good as in the previous year. He declined to give details pending the formal report of earnings to the Stock Exchange of Thailand.
Nielsen Media Research reported total advertising spending in the first nine month of the year fell by 1.5 percent year-on-year. Last year, ad spending rose 2.5 percent from 2006.
Kematat said Modern Nine would differentiate its entertainment programs from that of Channels 7 and 3, the two biggest players in the market.
MCOT could not compete with the soap operas that have been so successful for the rivals over two decades. "Our sort of entertainment is something that the whole family can sit down and enjoy it. It would be fun and educational at the same time," he said.
The Bangkok Post reported, “MCOT imports some TV "edutainment" programs from Japan and South Korea and focuses on seasonal reality shows such as Super Star and Academy Fantasia. It may have more reality shows next year.
“News is still its core content.”
In the first half, MCOT reported 20 percent growth year-on-year in total revenue, and net profit rose by 36 percent.
APN NEWS BOSS SIGNING UP FOR THREE MORE YEARS AT THE HELM IN AUSTRALIA
APN News & Media chief Brendan Hopkins has added three more years to his contract and defied market talk that he is about to leave Australia, signing up for a new three-year contract when his contract expires in April next year.
The Australian reported that there had been speculation that Hopkins, who has been on secondment from Irish media giant Independent News & Media (APN's dominant shareholder, with more than 40 percent), would return to the parent company at the end of his contract.
But these rumours were "premature", Hopkins said. "The board of APN acts on behalf of all shareholders and has asked me to extend my tenure. I've thought about it long and hard and I've agreed to do so."
In the 2007 year, he was paid a base salary of A$1.67 million, with other benefits, including options issued to him, taking his total package to $3.59 million.
VIRGIN RADIO BREAKFAST SHOW HOST IN DUBAI FIRED FOR ON-AIR OFFENSIVENESS
Virgin Radio DJ Revin John has been fired from his Dubai breakfast radio show, after he outraged listeners by reading an offensive article on-air.
Mahmoud Al-Rasheed, general manager of Arab Radio Network, told Arabian Business magazine that the presenter had been asked to leave for “inappropriate on-air conduct”.
“Arabian Radio Network has continuously maintained that it is a company that respects the cultures and traditions of all religions.
“The unfortunate incident that took place was one that does not in any way reflect the opinions, values or standards of ARN, but was a mistake by one of our employees. In line with our commitment to respect our listenership, we saw fit to let go of the presenter,” Al-Rasheed said.
John, who is originally from South Africa, had read an article from a US newspaper which was offensive for religious reasons, according to the statement from Arab Radio Network.
Viewers of various faiths and nationalities had subsequently complained to the station, stating they were "uncomfortable" with the broadcast.
The sacking follows an interview John gave with Dubai newspaper Gulf News in June, in which he said he had “studied the Middle Eastern market thoroughly” before his arrival.
“The sensibilities of a listener in Dubai and the boundaries of what's acceptable and what's not were looked into,” he told the newspaper.
Virgin Radio Dubai launched earlier this year, and is the first Middle East branch of Sir Richard Branson’s radio network.
SINGAPORE PUBLISHER PLANS TO LAUNCH LUXURY MAGAZINE IN NEW YORK
Folio reports that it may be late 2009 before the economy recovers enough for new consumer magazines in the US, but a Singapore publisher is betting the luxury magazine market is stable enough to launch one in February.
CR Media plans to introduce Prestige New York, a US version of its Prestige Singapore flagship.
Folio said,. “Editorial will include the predictable mix of city society leaders, entrepreneurs, philanthropists, politicians and innovators, but with an atypical international flavour. The monthly will target "high net worth individuals" with controlled circulation of 50,000.
Finding advertisers may prove problematical: ad pages for the Robb Report and Departures magazines, both aimed at wealthy readers, were down about 5 percent. But luxury title Executive Travel SkyGuide saw a 13.4 percent jump.
US NEWSPAPER PUBLISHER GANNET SEES NET INCOME DROP BY ALMOST A THIRD
The Wall Street Journal reported that US newspaper publisher Gannett's third-quarter net income slid 32 percent as the media company grappled with slumping advertising sales and higher newsprint prices. Publishing-ad revenue dropped 18 percent, a bigger decline than recent quarters. Broadcasting revenue increased 3.9 percent, with boosts from political ads.
WALT DISNEY’S ESPN TO GIVE PART-MURDOCH-OWNED PREMIERE TV IN GERMANY A RUN FOR ITS MONEY OVER FOOTBALL COVERAGE
Bloomberg reports that Walt Disney Co, the second-largest US media company, will bid for the live pay-TV broadcast rights to Germany's top soccer games and would start a local ESPN sports channel to broadcast the matches.
Disney is in talks with German cable companies including Kabel Deutschland GmbH, Kabel Baden-Wuerttemberg GmbH and Unity Media GmbH to distribute a potential German-language ESPN channel for Bundesliga football games.
Disney owns 80 percent of ESPN.
A bid for top German matches would pit ESPN, the most- watched sports TV network in the US, against local pay-TV operator Premiere AG, in which Rupert Murdoch’s New Corp owns 25 percent.
Premiere shows Bundesliga games under a sublicensing deal with Unity Media that runs through the 2008-2009 season and relies on the rights to attract subscribers.
AUSTRALIAN BROADCASTING CORP PROGRAM ABOUT TWO AUSSIE DEMINERS IN CAMBODIA WINS UN MEDIA PEACE AWARD
An Australian Broadcasting Corporation television program about two traumatised Vietnam veterans on a mission to deactivate mines in Cambodia has won an United Nations Media Peace Award.
Bomber and Roy is the story of veterans, Tony "Bomber" Bower-Miles and Roy Chamberlain, who made peace with their difficult lives by deactivating Cambodian mines.
The UN Media Peace Award was presented to ABC TV's Australian Story for their portrayal of the pair, which depicted positive images of ageing and older people
Ms Neville said the pair were powerful role models for older people and the unexpected benefit of volunteering in later years.
The United Nations Media Peace Awards aim to promote understanding and awareness about humanitarian and social justice issues, and the values of peace, cooperation and mediation rather than conflict and violence.
AUSTRALIAN MEDIA COMPANY SHARES HEADED SOUTH ON FRIDAY
Shares in many Australian media companies dropped to new lows on Friday as a leading analyst slashed target price estimates on top stocks.
Chief media analyst for Goldman Sachs JBWere, Christian Guerra, predicted a much worse ad market outlook for most sections of the media – including metropolitan newspapers, the web and free-to-air TV.
For the 2009 financial year, Guerra is now forecasting a 7.9 percent decline in the metropolitan newspaper ad market, a 6.6 percent fall in free-to-air TV ads, and a near-halving of his previous estimates for "new media" ad growth to 9.9 percent. He has also cut his target price for virtually all major local media stocks, by 10-35 percent.
Guerra's forecast for total media sector advertising for the 2009 financial year has also entered negative territory for the first time. His previous prediction of 0.4 percent growth has been downgraded to a 2.7 percent fall. He has also lowered his expectation for growth in ads in the 2010 financial year from 6.2 percent to 4.2 percent.
Guerra also extended the time frame for his bearishness. "It is important to note we have downgraded our ad market forecasts for both financial year 09 and financial year 10," he said.
"We had previously assumed financial year 09 would be a cyclical low for the ad market. We now see a real prospect of the contagion spreading into financial year 10."
FIJI TV LTD WINS BUSINESS EXCELLENCE AWARD
Fiji Television Limited has won an award for achievement in business excellence, as part of the Training and Productivity of Fiji Business Excellence Awards.
Fiji TV's outgoing group ceo, Mesake Nawari, described the award as another milestone for Fiji TV and dedicated it to all the members of the Fiji TV group family.
He said, “This is the first time Fiji TV has taken part and we decided to enter to allow an independent party to assess our business processes and change that we have been implementing over the last five years and to give us feedback for improvement.
Training and Productivity of Fiji’s manager for productivity promotion, Villiame Waqalaivi, said it was the first time a media organisation had won a Fiji Business Excellence Award.
ASSOCIATED PRESS BOWS TO PRESSURE FROM MEMBER NEWSPAPERS AND LOWERS RATES
The Associated Press announced on Thursday that it will offer new price discounts to newspapers and remove restrictions on the articles they receive, in response to news that some newspapers might leave the cooperative.
The New York Times reports that many newspapers have complained about the prices charged by the AP, a non-profit corporation owned by the more than 1,400 American newspapers that are its members.
After holding prices flat for two years, AP proposed a price structure that it said would save members an average of 10 percent next year. That system offered members a basic package of written material or, for a higher price, access to all AP articles.
On Thursday, the AP board of directors, meeting in New York, decided to give the broader package to all members at the lower price. A small number of papers would have had a price increase under the new system, and the board voted to hold their rates flat, instead.
The company said the changes would raise the aggregate savings to newspapers from US$21 million a year under the previous plan, to US$30 million.
The board will also consider whether to change a policy that some newspapers have protested, which requires them to give two years' notice of their intent to drop the service.
PHILIPPINE BROADCASTER GMA POSTS TEN PERCENT INCOME INCREASE
Philippine broadcaster GMA net income from January to September this year rose 10 percent to US$40 million, the Business Mirror reports.
The expanded figure, according to key officials, was bolstered by steady growth in ad revenue.
Felipe S Yalong, a senior vice president, said there had been a slowdown in big advertisers but that non-volume ads such as those for health products had posted a 40 percent increase.
With the ad revenue growth, the company’s gross revenue reached a new high of US$193 million, 6 percent higher than for the same period last year.
The network’s international channels had also increased their subscribers internationally.
By the end of September, GMA Pinoy TV (GPTV) had generated around 193 thousand subscribers, while GMA Life TV (GLTV) had around 45 thousand subscribers.
NEW ZEALAND TV AND FILM COLLECTION NOW ONLINE
An online collection of New Zealand television and film content has now been made available, Scoop.co.nz reports.
NZ On Screen, conceived and funded by NZ On Air, a government body, is a continually evolving showcase of New Zealand television and film.
It provides video clips from programs and movies, and at times entire programs, as well as commentary about the programs, their makers, and their place in New Zealand’s screen culture history.
The site was launched today by Broadcasting Minister Trevor Mallard. At launch, the site has more than 250 titles and accompanying content, with more being added all the time.
NZ On Screen manager, Brenda Leeuwenberg, said the site was unique in that it featured content from a wide range of program makers, channels and genres.
MECOM INTERIM STATEMENT WARNS OF REVENUE DROP OF 2.6 PERCENT
UK-based giant media conglomerate Mecom Group plc issued an interim management statement for the three month period to September 30, 2008.
Group revenues on a like-for-like basis in the three month period to September 30 were down 2.6 percent. Revenues in July and August are seasonally lower than in September, reflecting the effect of continental summer holidays. Unless stated otherwise, all numbers and comments thereon are on a like-for-like basis that is as if Mecom had owned all the divisions for the entire periods (stated at constant currency, at average year-to-date 2008 exchange rates).
Advertising revenues in the three months to September 2008 were down 7.2 percent on an aggregated basis, most markedly in the month of September (down 9 percent). Against a weakening market, advertising revenues have been supported by growth in lower margin specials and inserts business and growing digital revenues from both organic and acquired businesses.
Circulation revenues in the three month period were up 4 percent, reflecting cover price rises, and other revenues were down 3.3 percent, due to contracting third party print and distribution volumes.
On a Group like-for-like basis year-to-date EBITDA is modestly behind the prior year.
David Montgomery, executive chairman of Mecom said, “The deterioration in global economic activity is being reflected in a recent slowdown in advertising performance and a weakening in the market outlook. We remain confident that Mecom's operating model is the right one and progress continues to be made in restructuring the cost base and developing new revenue streams.”
ONLINE POLLS SHOW MOST CHINESE SUPPORT OBAMA FOR US PRESIDENCY
An online poll conducted on China Daily’s website by the US embassy, shows Barak Obama enjoys the support of 75 percent among the Chinese.
A Horizon Research survey released Wednesday showed about 35.5 percent Chinese “pay close attention” to the US presidential race. Even among these people, Obama’s supporters exceed McCain’s by 17.8 percent,
“The most impressive thing is the Chinese people’s strong backing for Obama,” Song Zhiyuan, who analysed the survey results, said.
“Perhaps his age, energy, and even complexion, which signify the US dream, are more appealing to the Chinese,” Song said.
Statistics show Obama was favoured more than McCain by each of the target groups, which were divided according to gender, age, income and educational qualification.
Horizon Research received 2,791 effective answers to its questionnaire from people aged between 18 and 60 in seven big cities and seven towns.
HARPER’S BAZAAR CLOSES TWO MAJOR US WEST COAST SALES OFFICES
Harper's Bazaar closed its Los Angeles and San Francisco sales offices last week and hired an outside firm to handle ad sales on the US west coast. The week before, the magazine trimmed positions in its merchandising division.
Women’s Wear Daily reports that no sales jobs for the magazine in New York were affected.
Hearst is joining other publishers in trying to trim its cost structure. President Cathie Black is going "floor by floor" at the Hearst Tower to trim costs – and staff – here possible. The magazine supposedly has a target of $1 million in budget cuts.
CHINESE SEARCH ENGINE BAIDU POSTS 91 PERCENT NET PROFIT RISE
Chinese search engine Baidu posted a 91 percent rise in year-on-year net profit in its third-quarter report.
Baidu’s revenues from July to September reached US$135.4 million, an increase of more than 85 percent from the same period last year.
Net income increased to $51.2 million in the third quarter, up by 91.4 percent from 2007’s third quarter.
Media Asia reported, “Baidu attributed its stellar growth to an increase in the number of active online marketing customers and revenue per customer.”
The number of Baidu’s active online marketing customers increased by 7.2 percent from the second quarter to more than 194,000, and revenue per active online marketing customer rose by 34.3 percent from last year.
Robin Li, Baidu’s chairman and ceo said, “As China’s leader in paid search, Baidu has a large and diverse customer base covering numerous industries and sectors. Such diversity gives us great stability and positions us to capture future growth.
“Companies throughout China are increasingly recognising the value of Baidu's paid search as an effective marketing tool and we remain confident in our long-term growth potential.”
RUSSIAN COMMUNICATIONS MINISTER SAID IT IS HARD TO FIND USEFUL INFORMATION IN THE MEDIA
Russian Minister of Mass Communications Alexander Jarov said that even though the media is expanding in the country, it is getting harder to find useful information.
According to gipp.ru, He suggested that media outlets in the country may not know how to deal with news, although they may be living in the information age.
He said it is necessary to properly regulate the flow of content and to control false information, including extremism and pornography.
Meanwhile, Russian newspaper Trud, reports that print journalism is on the list of the ten least demanded professions during the financial crisis that is affecting numerous countries in the world.
Trud revealed that the reason for the phenomenon is that print publications tend to experience profit losses instead of gains. For businesses, print outlets more often than not appear as having less valuable assets. Some titles may soon be shut down, Trud said.
Other undesirable professions in Russia include banking specialists, real estate brokers and social specialists.
JAPANESE SOCIAL NETWORK LEADER LAUNCHES MANDARIN-LANGUAGE SITE IN CHINA
Japanese social network leader Mixi.com has launched a localised, Mandarin-language site in mainland China.
Media Asia said that Mixi had announced its planned launch in February along with plans to open a head office in Shanghai by the spring.
According to a Miki spokeswoman at the time, China – although a notoriously difficult market to penetrate – was attractive to the Japanese company because it is the fastest-growing major internet market in the world.
Mixi.cn supports blogs, photos and messaging.
Mixi claims 12 million page views a month in Japan and hosts more than 13 million users.
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