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The traditional TV slump is intensifying as viewers switch off

Published

4 months ago

August 3, 2023

ticker NEWS

Traditional TV experiences its most significant drop in viewership since Ofcom began recording data.

While major events like the Queen’s funeral and England football matches continue to attract large audiences, public service broadcasters ITV and BBC are facing tough competition as viewers increasingly turn to alternative sources of entertainment.

According to a recent report by Ofcom, the proportion of people watching broadcast TV each week declined from 83% in 2021 to 79% in 2022, the largest decrease on record. The rise of streaming platforms like Netflix and Apple, along with social media sites such as YouTube and TikTok, has been drawing younger viewers away from traditional television.

Older audiences

Surprisingly, the report also indicates a significant decline in daily broadcast TV viewing among older audiences (aged 65+), dropping by 10% year on year and 6% below pre-pandemic levels.

Furthermore, the average time spent watching broadcast television per person per day decreased from two hours and 59 minutes in 2021 to two hours and 38 minutes in 2022.

While public service broadcasters still dominate the list of most-watched programs in the UK, the number of shows with over four million viewers has more than halved in the past eight years, indicating a shift towards streaming platforms.

Netflix, in particular, accounts for the majority of programs with large viewership on streaming services.

TV decline

The decline in traditional TV viewership is evident in the reduced number of people watching early and late evening news bulletins, as well as popular soaps like Coronation Street, EastEnders, and Emmerdale.

BBC One and ITV1 remain the top choices for viewers when they first turn on their TVs, but streaming platforms like Netflix are catching up.

On-demand services such as BBC iPlayer and ITVX are also experiencing growth in usage.

Yih-Choung Teh, Ofcom’s group director for strategy and research, stated that today’s viewers have an abundance of broadcasting and online content to choose from, leading to declining viewership for traditional broadcasters.

Nevertheless, public service broadcasters continue to unite the nation during important cultural and sporting events, and their on-demand platforms are witnessing positive growth as they adapt to meet audience demands.

Money

Tech giants drive global mega-cap surge amid inflation relief

Published

1 day ago

December 1, 2023

ticker NEWS

Tech giants have taken the lead in propelling global mega-cap stocks to new heights.

This surge comes as a welcome relief for investors who have been closely monitoring the impact of rising inflation on the financial markets.

The tech sector, including giants like Apple, Amazon, and Microsoft, has been instrumental in driving the rally. These companies have reported robust earnings and strong growth prospects, which has boosted investor confidence. As a result, the market capitalization of these tech behemoths has reached unprecedented levels, contributing significantly to the overall rise in global mega-cap stocks.

The easing of inflationary pressures has played a pivotal role in this resurgence. Central banks’ efforts to tame inflation through monetary policy adjustments have begun to bear fruit, reassuring investors and stabilizing financial markets. As concerns over rapidly increasing prices recede, investors have become more willing to invest in mega-cap stocks, particularly in the tech sector, which has demonstrated resilience in the face of economic challenges.

Will the tech giants maintain their momentum and continue to lead the mega-cap surge, or are there potential risks on the horizon?

Money

Real reason bosses want employers back in the office

Published

3 days ago

November 30, 2023

ticker NEWS

As the world gradually recovers from the pandemic, employers are increasingly pushing for their staff to return to the office after years of remote work.

The driving force behind this push is the sharp decline in commercial property values, which has left many businesses concerned about their real estate investments.

Commercial property values have plunged in the wake of the pandemic, with many companies downsizing or reconsidering their office space needs.

This has put pressure on employers to reevaluate their remote work policies and encourage employees to return to the office. #featured

Money

Businesses cash in on Black Friday sales

Published

3 days ago

November 30, 2023

ticker NEWS

Black Friday, the annual shopping frenzy, has become a global phenomenon rooted in economic strategies.

Retailers deploy various tactics to lure consumers, creating a win-win scenario for both shoppers and businesses.

The concept of Black Friday traces its roots to the United States, where it marks the beginning of the holiday shopping season. Retailers offer significant discounts on a wide range of products to attract a massive customer influx. This strategy, known as loss leader pricing, involves selling a few products at a loss to entice customers into stores, hoping they will buy other items at regular prices.

Retailers also employ the scarcity principle by advertising limited-time offers and doorbuster deals. This sense of urgency compels consumers to make quick decisions, boosting sales.

Furthermore, online shopping has revolutionized Black Friday economics. E-commerce giants use data analytics to customize deals, targeting individual preferences. Cyber Monday, the digital counterpart to Black Friday, capitalizes on the convenience of online shopping. #featured