Latest news with #All3Media
Daily Mail
15-05-2025
- Business
- Daily Mail
Advertising revenues plummeting at ITV amid hopes production arm won't be hit by Trump tariffs
ITV is facing a plunge in advertising – but does not expect its production arm to be hit by proposed US film tariffs. The company expects revenues to tumble 14 per cent in its second quarter following a 2 per cent slide in the first three months of its financial year. It blamed strong comparatives from a year earlier when trading was buoyed by the Euro 2024 football tournament. And it is assessing the 'possibility of trade tariffs in the US', but thinks its ITV Studios business should not suffer a direct impact if Donald Trump imposes a 100 per cent levy on international films. 'ITV Studios only produces TV programming and therefore does not anticipate any direct impact from the imposition of tariffs on films,' it said. Its ITV Studios division – producer of hits including Mr Bates vs The Post Office, Fool Me Once, starring Michelle Keegan for Netflix, and the Disney+ adaptation of Jilly Cooper's novel Rivals – notched up a 1 per cent rise in first-quarter revenues as it returned to growth after the impact of the 2023 US actors and writers strikes. But total group revenue fell 1 per cent to £875million, piling pressure on chief executive Carolyn McCall as she battles to revive ITV. She warned the 'macroeconomic environment is uncertain' as the shares fell 1.3 per cent, or 1p, to 78p. They are down around 70 per cent in the past decade. ITV has held talks about merging the Studios arm with All3Media to create a company worth more than £3billion. All3Media is owned by the Abu Dhabi-backed investment group Redbird IMI, and its production hits include TV show The Traitors. Banijay, the French group behind Big Brother, is also exploring a takeover of the Studios arm or the entire ITV group.
Time of India
30-04-2025
- Business
- Time of India
Operating efficiency, customer adoption lift Freshworks Q1 revenue 19%; net loss narrows sharply
Freshworks reported a strong March quarter, with revenue increasing by 19% to $196.3 million and a significantly narrowed net loss. The company's growth was driven by increased customer adoption and operating efficiency, with a focus on AI-powered solutions. Freshworks anticipates continued growth in Q2 and for the full year, projecting revenue between $815.3 million and $824.3 million. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Nasdaq-listed software-as-a-service (SaaS) company Freshworks on Tuesday reported a 19% year-on-year increase in revenue to $196.3 million for the quarter ended March 31, 2025, up from $165.1 million a year San Mateo (California), and Chennai-headquartered company significantly narrowed its net loss to $1.3 million from $23.3 million in the same period last year, buoyed by higher operating efficiency and increased customer adoption 'Freshworks had another fantastic quarter. We outperformed all our financial metrics for growth and profitability in Q1. We continue to see that our uncomplicated customer and employee service solutions are winning against outdated legacy software vendors," Dennis Woodside, the company's CEO and president, said during the earnings call. "Companies are choosing our AI-powered solutions to remove complexity, improve efficiency and unlock growth.'The company posted a non-GAAP income from operations of $46.4 million, more than double the $21.8 million reported in Q1 2024. Net cash provided by operating activities also rose to $58 million, from $40.6 million a year said the number of customers contributing more than $5,000 in annual recurring revenue (ARR) rose 13% year-on-year to 23,275 during the quarter, while its net dollar retention rate, a key metric that measures revenue retention from existing customers, improved to 105%, from 103% in Q4 2024, though slightly down from 106% in Q1 last total operating expenses for the quarter rose 3% to $176.8 million, from $171.4 million last year, though it managed to reduce its sales and marketing expenses by around 6% during the currently works with more than 73,000 customers in over 120 countries across multiple verticals, including ecommerce, logistics, financial services, auto and the quarter, the company onboarded over 1,000 net customers, including All3Media, Broad River Retail, Freudenberg Group, The Christie NHS Foundation Trust, and Veracode. It also launched a new global partner programme aimed at expanding its reseller offerings and service delivery in Chennai in 2010, Freshworks initially targeted small and medium businesses (SMBs). However, in recent quarters, the company has increasingly focused on mid-market and enterprise customers to offset macroeconomic softness in its traditional SMB base. According to the company, more than 60% of its total annual recurring revenue (ARR) now comes from these outlined three strategic imperatives for Freshworks: investing in its employee experience (EX) business; delivering AI capabilities across its products and platforms to drive productivity gains for customers; and accelerating growth in its customer experience the second quarter of 2025, Freshworks expects revenue to be in the range of $197.3 million to $200.3 million, representing 13% to 15% year-on-year growth. For the full year, it projects revenue to range between $815.3 million and $824.3 AI capabilities, including the Freddy Copilot assistant, are also expected to continue driving adoption and monetisation across its customer and employee experience products.
Telegraph
28-04-2025
- Business
- Telegraph
French studio behind Peaky Blinders plots bid for ITV
The French production powerhouse behind hits including Big Brother, MasterChef and Peaky Blinders has entered the race to buy ITV. Banijay has reportedly held early-stage discussions over a potential bid for the British broadcaster, which has found itself at the heart of increased takeover speculation in recent months. Options under discussions are thought to include an offer for ITV's studios division or a full takeover of the company. Banijay would likely require third-party backing should it opt to swoop on the entire company. It has held talks with private equity giant CVC about financing a potential offer, the Financial Times reported. The talks will fuel expectations of a bidding war as ITV is already locked in discussions with All3Media, the maker of shows including The Traitors and Race Across the World, about a potential merger of their production businesses. All3Media is owned by RedBird IMI, the Abu Dhabi-backed fund that has been blocked from taking control of The Telegraph but has yet to deliver on a promise made a year ago to ministers to sell on the newspaper. ITV is viewed by many industry observers as ripe for a takeover as an advertising downturn and tough transition to the streaming era has pushed its market value below £3bn, down from a peak of more than £11bn in 2015. The broadcaster has been investing heavily in its production business, which now accounts for roughly half the group's revenues thanks to deals to sell shows such as Fool Me Once and Rivals to Netflix and Disney+. Dame Carolyn McCall, ITV chief executive, has said the broadcaster is undervalued, with some analysts arguing its studios division is worth more than its entire current market valuation. Banijay, which is headquartered in France but listed on the Amsterdam stock exchange, is one of the world's largest production companies with a market value of €3.8bn. It took control of TV shows including Survivor, MasterChef and Black Mirror after striking a $2.2bn deal to buy Endemol Shine in 2019. The French company's interest in ITV comes after the production company became embroiled in a scandal over alleged misconduct by MasterChef host Gregg Wallace. The presenter stepped down from the BBC programme last year and Banijay has appointed a law firm to carry out an investigation. Any deal between the two companies would marry Banijay's slate of mostly scripted programmes with ITV's unscripted reality hits such as Love Island and I'm A Celebrity… Get Me Out of Here, creating a major new player in the market. However, shares in ITV fell 3.5pc on Monday in a sign investors remained sceptical about a deal. The TV industry is braced for further consolidation as broadcasters and producers alike scramble for scale to compete with deep-pocketed streaming rivals such as Netflix and Disney+. Both ITV and Banijay previously explored bids for All3Media but dropped out before it was ultimately snapped up by RedBird IMI in a £1.2bn deal last year. Any break-up of ITV is likely to attract political attention given the significance of its broadcasting operations, particularly in news. Senior MPs including Sir Iain Duncan Smith and Sir Ed Davey have warned ministers against allowing RedBird IMI to swoop on ITV while its ownership of The Telegraph remains unresolved. Meanwhile, MPs and industry executives have warned that selling off the broadcaster's lucrative studios division could put the sustainability of its local news programming at risk.
Yahoo
28-04-2025
- Business
- Yahoo
French studio behind Peaky Blinders plots bid for ITV
The French production powerhouse behind hits including Big Brother, MasterChef and Peaky Blinders has entered the race to buy ITV. Banijay has reportedly held early-stage discussions over a potential bid for the British broadcaster, which has found itself at the heart of increased takeover speculation in recent months. Options under discussions are thought to include an offer for ITV's studios division or a full takeover of the company. Banijay would likely require third-party backing should it opt to swoop on the entire company. It has held talks with private equity giant CVC about financing a potential offer, the Financial Times reported. The talks will fuel expectations of a bidding war as ITV is already locked in discussions with All3Media, the maker of shows including The Traitors and Race Across the World, about a potential merger of their production businesses. All3Media is owned by RedBird IMI, the Abu Dhabi-backed fund that has been blocked from taking control of The Telegraph but has yet to deliver on a promise made a year ago to ministers to sell on the newspaper. ITV is viewed by many industry observers as ripe for a takeover as an advertising downturn and tough transition to the streaming era has pushed its market value below £3bn, down from a peak of more than £11bn in 2015. The broadcaster has been investing heavily in its production business, which now accounts for roughly half the group's revenues thanks to deals to sell shows such as Fool Me Once and Rivals to Netflix and Disney+. Dame Carolyn McCall, ITV chief executive, has said the broadcaster is undervalued, with some analysts arguing its studios division is worth more than its entire current market valuation. Banijay, which is headquartered in France but listed on the Amsterdam stock exchange, is one of the world's largest production companies with a market value of €3.8bn. It took control of TV shows including Survivor, MasterChef and Black Mirror after striking a $2.2bn deal to buy Endemol Shine in 2019. The French company's interest in ITV comes after the production company became embroiled in a scandal over alleged misconduct by MasterChef host Gregg Wallace. The presenter stepped down from the BBC programme last year and Banijay has appointed a law firm to carry out an investigation. Any deal between the two companies would marry Banijay's slate of mostly scripted programmes with ITV's unscripted reality hits such as Love Island and I'm A Celebrity… Get Me Out of Here, creating a major new player in the market. However, shares in ITV fell 3.5pc on Monday in a sign investors remained sceptical about a deal. The TV industry is braced for further consolidation as broadcasters and producers alike scramble for scale to compete with deep-pocketed streaming rivals such as Netflix and Disney+. Both ITV and Banijay previously explored bids for All3Media but dropped out before it was ultimately snapped up by RedBird IMI in a £1.2bn deal last year. Any break-up of ITV is likely to attract political attention given the significance of its broadcasting operations, particularly in news. Senior MPs including Sir Iain Duncan Smith and Sir Ed Davey have warned ministers against allowing RedBird IMI to swoop on ITV while its ownership of The Telegraph remains unresolved. Meanwhile, MPs and industry executives have warned that selling off the broadcaster's lucrative studios division could put the sustainability of its local news programming at risk. ITV and Banijay declined to comment. CVC has been contacted for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio
Telegraph
09-04-2025
- Business
- Telegraph
ITV break-up talks spark alarm over local news
Moves towards a break-up of ITV have sparked fears the broadcaster's local news programming would be put at risk of cuts. ITV is currently in discussions over a potential deal with All3Media, the maker of shows including The Traitors and Race Across The World, that would create a new £3bn British production powerhouse. A tie-up with All3Media, which is owned by the Abu Dhabi fund RedBird IMI, could see ITV Studios spun out into a new company listed on the London Stock Exchange, leaving its broadcasting arm as a standalone entity. RedBird IMI is also owner of an option to take control of The Telegraph but has been blocked from doing so by a ban on foreign state ownership of newspapers. The fund promised ministers it would sell up a year ago but has so far failed to meet the pledge. Its talks over ITV have now triggered concerns about the sustainability of the broadcaster's traditional TV business amid a decline in advertising revenues and as audiences flock to streaming rivals. Damian Collins, former chairman of the culture select committee, drew comparisons with Channel 4, which last year posted a record £52m deficit as it grappled with an advertising slowdown. He said: 'If ITV switched to a system where the core channels and the public service remit is delivered by a purely ad-funded company, then the concern would be that that will be not sustainable. 'In the short-term, ITV have got to meet their obligations to their licence, in the longer run there's a concern as to whether companies like ITV wish to remain public broadcasters.' John Whittingdale, the former media minister, said: 'I still believe that it is very difficult to sustain a purely advertising-funded channel with public service broadcasting obligations as the world changes. 'ITV have been very successful at developing their production arm, which has generated a large chunk of their revenues. But if they get rid of it, then they're sort of back to square one.' ITV's public service obligations require it deliver a variety of UK-made programming in the public interest, including its national and local news output. In exchange, it receives access to spectrum and holds the channel three slot, guaranteeing it prominence on TV programme guides. The broadcaster renewed its licence last year, meaning it is committed to these obligations until the end of 2034. However, industry observers fear ITV may choose not to retain its public service broadcasting status beyond this date as the benefits of a prominent channel slot wane in the streaming world. Any such move would spell uncertainty for ITV's regional news programming, which is thought to cost the broadcaster in the region of £100m per year. Mr Collins added: 'The problem for a TV channel is if you're relying on a TV ad market that is dwindling, and you've got to start making cuts, where are you going to start making them? Probably on the things that are making less money.' 'Real threat' Regional news is a costly but crucial component of broadcasters' public service remit, particularly amid a sharp decline in the number of local newspapers across the country. It also has vocal support from MPs, who view it as a key way of gaining coverage and reaching their constituents. ITV, which was formed through a merger of scores of regional franchises, explored plans to abandon its regional news output entirely in 2009, with programming to be provided instead by a number of independently funded news consortia. However, the plans were abandoned following opposition from MPs. The future of ITV's local news output will be cast into further doubt as ministers explore plans for a switch-off of terrestrial TV, which is currently also slated for 2034. Stewart Purvis, the former chief executive of ITN and Channel 4 board member, said ITV would continue to broadcast local news while it had a regional terrestrial TV network. But he added: 'In a decade's time when terrestrial TV may be turned off I think there's a real threat to local news.' The shift to streaming has prompted uncertainty over the future of public service broadcasting. New laws introduced last year will require apps and programmes from channels such as the BBC, ITV and Channel 4 to be shown prominently on smart TVs and streaming sticks. However, it is still unclear how exactly this will work and how much it will benefit broadcasters. Sources close to ITV said the broadcaster's decision to renew its public service licence provided certainty for the next decade. They added that the company's total advertising revenue rose 2pc last year. ITV has invested heavily in its production business, which is behind hits including Mr Bates vs The Post Office and Love Island. The division, which reported record profits last year, now accounts for roughly half the group's revenues. Chief executive Dame Carolyn McCall has been exploring a potential sale or spin-off of the studio business amid concerns the company is undervalued. Early-stage discussions have taken place between ITV and RedBird IMI, the UAE fund that bought production giant All3Media for £1.2bn last year. The talks have drawn criticism from Conservative MPs given RedBird IMI's botched takeover of The Telegraph and its failure to find a new buyer a year after it told ministers it would. The Liberal Democrat leader Ed Davey in February said 'their priority should be getting that sorted and sold before turning their attention elsewhere'.
