Sun halves losses, Times revenue up, TalkTV losses revealed
And the BBC faces a libel trial over some of its Pandora Papers reporting
Welcome to your daily newsletter from Press Gazette on Wednesday 10 April, brought to you today in association with MHP Group - hosts of the 30 To Watch: Journalism Awards. The awards, which are in their 13th year, celebrate the best and most influential journalists in the UK aged 30 and younger. Nominate or enter the awards today.
There’s a mixture of good and bad news in the results for News UK’s businesses – including The Times, The Sun and TalkTV.
The good news: The Times is still seeing good digital subscriptions growth and is planning to put continued focus on expanding that internationally.
Meanwhile The Sun had to put less into its hacking fund last year, halving its losses. It also saw good growth at its US website and in its betting and gaming division.
The less good news is that The Sun is one of the major players to have suffered from social media platforms moving away from news. And both newspapers cited rising costs, an industry-wide challenge at the moment.
The new accounts also reveal the extent of TalkTV’s losses in its first full year on air, which probably explain why it is now moving away from linear TV to help save costs – especially when most of its attention came online.
I’ll let you delve into our full breakdown here.
Also today we have the result of the first stage of a libel battle between a Tory donor and the BBC over an online Panorama article connected to the major collaborative Pandora Papers investigation that came out in 2021.
And watch this space for a look at a new website led by the co-founder of The Verge, which comes just a week after the launch of another US upstart – that one with the unusual premise of making money from investors paying for access to its research before publication.
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You can enter or nominate via this short form.
Deadline for entries is 19th April.
New from Press Gazette
Sun halves losses, Times titles grow revenue, TalkTV losses rise to £88m
Areas of growth at The Sun included its US website as well as the betting and gaming division, with "product enhancements and targeted marketing" for the Bingo and Vegas brands driving increases in monthly active users.
BBC faces Pandora Papers libel trial versus Tory donor Amersi after defamation ruling
The BBC’s reporting alleged that Amersi, who it said had given nearly £525,000 to the Conservative Party since 2018, was “involved in one of Europe’s biggest corruption scandals” after working on deals for Swedish telecoms company Telia, which was later fined $965m (£700m) by the US.
News in brief
National World has signed a local advertising deal with US-based AI video company Waymark. They said local businesses will be able to create high-quality ads with professional voiceovers using the gen AI tech, for use as pre-roll videos on National World's news websites.
The NUJ says an "alarming number of incidents of police overstepping their powers with photographers and reporters over the last couple of years" has created an "increasingly hostile environment for journalists who are simply trying to do their job". It follows charges being dropped a day before trial against a Swansea-based photographer who was arrested while taking photos at the scene of a fatal car fire. (NUJ)
Fortune has appointed its first female chief executive: Anastasia Nyrkovskaya, promoted from chief financial officer and chief strategy officer. Her priorities include growing Fortune's conference business and rankings and further international expansion. Press Gazette reported on Fortune's major Europe expansion last month, with a new leadership and reporting team led by executive editor Alex Wood Morton. (Fortune)
Local online news network Nub News has "mothballed" its websites in Hadleigh and Felixstowe as they "just didn't work numbers wise" according to the owner. (Hold the Front Page)
Mail Sport journalist Jeff Powell has picked up his MBE for services to journalism and sport from Princess Anne. (Mail Online)
Prospect "has around 32,000 subscribers and another 10,000 or so would put it into the safety zone" according to an interview with editor Alan Rusbridger whose aim is to raise the magazine's profile, especially in the US. (In Publishing)
Pop culture and fashion magazine Nylon is back in print for the first time since 2017 with singer Gwen Stefani on the cover. (Nylon)
CBS News 24/7 is the new name of the US broadcaster's revamped free, ad-supported streaming service which is doubling its amount of live hours and adding new programming from both national and local journalists. (Deadline)
Puck has acquired Substack newsletter Artelligence which reports on the global art market. It will integrate and rebrand the newsletter as part of its own portfolio and is the first time it has bought an existing newsletter and email list. (Axios)
Previously on Press Gazette
Business Post at ‘pivotal moment’ with new correspondents outside Ireland
Ofcom warns TalkTV over ‘potentially offensive’ Julia Hartley-Brewer interview with Palestinian MP
Former Business Insider execs launch personal finance brand on Substack
Increased costs and slow return of events hit Mark Allen Group profits
Latest podcast
Podcast 68: How to make news pay on Youtube with TLDR News
Founder of video news network TLDR News Jack Kelly explains how he funds an 11-strong editorial team providing serious news for younger viewers on Youtube.
The profitable publisher is funded mainly through the Youtube ad revenue split and direct-sold sponsorship – but also made a successful foray last year into print publishing.
Press Gazette live
Entries are now OPEN for the Future of Media Awards 2024 (which celebrate the best journalism-based digital products). Check out the full list of categories here. Note: These awards are free to enter.