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From Irish Times (bold is ours):

Broadcasting group enjoys stronger performance overall in 2023, a year when it reached its highest ever audience

Virgin Media Television (VMTV) substantially narrowed its after-tax loss to €578,000 last year, accounts filed at the Companies Registration Office show. This compares to a net loss of €6.1 million in 2022.

Accounts for the company behind the Virgin Media One channel and the Virgin Media Player recorded a 7.2 per cent climb in its revenue to almost €59.2 million in 2023.

The directors of the company – owned by telecoms group Virgin Media – said this was mainly due to an increase in digital advertising revenue from the Virgin Media Player, its on-demand app, which attracted a record 48 million streams last year. It was recently replaced by a new service called Virgin Media Play.

The directors also cited growth in what is known as addressable advertising, which is when advertisers pay to target particular audiences based on their location or lifestyle attributes. (Adsmart)

The accounts for Virgin Media Television Limited show that the company’s operating loss narrowed 69.2 per cent to €1.4 million in 2023 after both the revenue increase and a fall in the cost of sales.

A separate set of accounts for Channel 6 Broadcasting Limited, the company vehicle for Virgin Media Two, show that its net profit fell 4.2 per cent to €8.1 million last year.

Its revenue softened 3.4 per cent to about €14.2 million after spot advertising declined slightly on the channel, which is Virgin Media Two is VMTV’s linear television home for Love Island, Big Brother and other imported reality series.

Operating profit fell 2 per cent to almost €8.4 million with net profit down 4.2 per cent to €8.1 million.

Meanwhile, the company showing the performance of Virgin Media Three, Cullen Broadcasting Limited, made a small loss (€23,000) last year, down from €1.8 million in 2022. Its revenue rose 21 per cent to €4.7 million.

The ultimate parent of each of the companies is the John Malone-controlled cable giant Liberty Global, which bought the former TV3 Group in 2015 and later rebranded the original TV3 channel as Virgin Media One.

The main channel recorded its highest ever audience in its then 25-year history in 2023 when Ireland’s defeat to New Zealand in the Rugby World Cup attracted 1,384,000 viewers.

Year-end figures from ratings body TAM Ireland and research firm Nielsen also show that VMTV channels grew their share of viewing among adults aged 15-plus to 19.8 per cent in 2023, a record for the group.

Spending on advertising in the US is expected to increase 11.4% to $377bn this year, according to Magna.

Improving macroeconomic conditions and high consumer demand for digital, streaming and cyclical events, including the Olympics and the presidential election, caused the media agency to revise its forecast up from June when it projected annual growth of 10.7%.

“Even without the incremental advertising spending generated around cyclical events, 2024 already looks like a strong year for the US ad market, growing by almost +9%,” said Vincent Létang, executive vice president of global market intelligence at Magna.

“This is due to strong demand from brands, in a stable economy, and supply-side innovations — e.g., the rise of ad-funded streaming and retail media – offering more scale and return-on-investment to marketers.”

Digital advertising including search, retail, social and short-form video will account for 72% of the market at $264bn, representing annual growth of 13.6%.

Advertising revenues for traditional media owners will increase 5.1% to $11bn. Without cyclical spending, however, revenues would decline 1.5%.

The Advertising Standards Authority, the independent advertising self-regulatory body responsible for promoting, regulating and enforcing the highest standards of marketing communications in Ireland, has appointed Ann Marie Lenihan, Clare Mulcahy, and Michael O’Keeffe to its Board.

The appointments of Clare Mulcahy and Michael O’Keeffe to the Board represent a significant milestone for the Advertising Standards Authority, introducing independent, non-industry perspectives that will enhance its mission to ‘Foster Trust in Advertising for all’.

Ann Marie Lenihan is CEO of NewsBrands Ireland, a representative body for national news publishers. Since her appointment to the role in 2016, Ann Marie has led the organisation in successful lobbying for the abolition of VAT on both print and digital newspapers, a change reflected in the 2023 Budget. More recently, she spearheaded efforts that resulted in the publication of the Defamation (Amendment) Bill, which aims to reform Ireland defamation laws.

Ann Marie is a member of the supervisory board of the World Association of News Publishers and vice-chair of its directors committee. She is also a director of News Media Europe, the voice of the news media industry in Europe, and serves on News Media Europe’s copyright and media freedom task forces.

With over 25 years’ experience in media and communications across Ireland, the UK and South Africa, Ann Marie is a UCD graduate of Psychology and holds a Diploma in Counselling from Maynooth University.

Clare Mulcahy is Head of Consumer Affairs at the Irish Aviation Authority and was also previously a member of the Advertising Standards Authority Complaints Committee. An accomplished leader in consumer protection and regulatory compliance, Clare has also worked with the Competition and Consumer Protection Commission (CCPC) and the Commission for Regulation of Utilities, where she managed compliance for water, electricity and gas markets. Clare also served as the Retail Regulatory Operations Manager for a major telecommunications operator, where she ensured regulatory compliance in product development, retail operations and advertising campaigns.

In her current position, Clare plays a pivotal role in ensuring that airlines, airports and the broader travel industry comply with aviation consumer laws. She also handles escalated consumer protection issues within Ireland and across the EU, collaborating with European counterparts to ensure the effective application of consumer protection laws.

Clare holds a Law Degree (LL.B) from Trinity College Dublin, a Master’s in International Business from University College Dublin, and an MBA from Trinity College Dublin.

Michael O’Keeffe is the former Chief Executive of the Broadcasting Authority of Ireland (BAI), having worked in this role for the BAI and its predecessors between 1991 and 2021. While in this role, Michael served as a member of the Advertising Standards Authority Complaints Committee.

Michael worked with Coimisiún na Meán (formally the BAI) in a consultancy role from May 2023 – June 2024 to oversee the administration and management of the Commission’s Commercial Radio Licensing Plan and a range of the Commission’s broadcasting compliance functions.

Michael has separately undertaken selection interviewing processes with the Public Appointments Service (PAS) and the Houses of the Oireachtas, where he has acted as Independent Chairperson of the Board on a number of senior management selection processes. He is also a member of the Greyhound Racing Controls Committee of Rásaíocht Con Éireann having being appointed by the Minister for Agriculture in 2022 to serve a four year term.

Commenting on the appointments, Orla Twomey, Chief Executive of the Advertising Standards Authority, said:

“We are delighted to welcome Ann Marie, Clare and Michael to the Board. Each appointee brings a wealth of expertise to the role. Their insights will be invaluable to the wider Board of the Advertising Standards Authority and their combined knowledge will offer expert guidance on the dynamic advertising landscape.

Commenting on the appointments, Miriam Hughes,(Chair of the Board said

“We are very much looking forward to working with Ann Marie, Clare and Michael in the future. Clare and Michael’s appointments, in particular, are an important milestone for the organisation. Their independent voices will bring fresh perspectives to the Board’s deliberations, enriching our decision making process and strengthening our commitment to safeguarding consumers from advertising that is harmful, offensive, or misleading.”

The Board is responsible for oversight of the Advertising Standards Authority’s business activities and performance. They also contribute towards drawing up and implementing the Code of Standards for Advertising and Marketing Communications in Ireland.

Visit adstandards.ie to learn more about the Advertising Standards Authority

To keep up to date on Advertising Standards Authority activity, follow the organisation on:

X                      @AdStandardsIRE

Instagram        @adstandardsireland

LinkedIn          @Ad-Standards-Ireland

You’ll see the Sale offers on the homepage and just click and book. Once you book at today’s prices, the Ads can appear anytime. Including 2025! so you avoid any media price increases.

From Irish Indo – and don’t buy from RTE, buy from us. It’ll be cheaper!:

From IMJ Adworld (Bold is ours!! see? Told ya):

A new 11-part podcast series called The Story of Advertising (And My Part in its Downfall) has been launched by Stuart Fogarty, one of the Irish advertising industry’s leading lights over the last 40 years.

The new series, which is available on audio platforms like Spotify, Acast, Buzzsprout will explore the history of advertising, how it started and why and how agencies we know today emerged. As the series progresses, Fogarty says it will explore the Mad Men era of the 1950s and the growth of the holding companies that now preside over the industry like a Colossus.

In later episodes, famous global and national campaigns will be examined including some iconic advertising from times gone by. The new series will also recall some of the Irish industry’s legendary agency brands like OKB, Arks, McConnell’s, Hunters, Doherty’s, O’Connor O’Sullivan and AFA.

“But this is the story of media, of advertising agencies and how they all contributed to the state we’re in now…and, of course, my part in its downfall,” Fogarty says.

A former president and fellow of IAPI, Fogarty is a former owner and CEO of McConnells Advertising at a time when it was the largest agency in Ireland. He is also  a former CEO of AFA O’Meara and was one of the founding shareholders/directors of Core Media. Fogarty is currently the founder and CEO of the media buying platform, Admatic.

To listen to the first episode of The Story of Advertising (And My Part in its Downfall) click https://www.buzzsprout.com/240220

You might enjoy…..11 weekly Episodes, 3 live now on IMJ/Adworld, Apple, Spotify, Acast, Buzzsprout and pretty much, wherever you get your Podcast.

Or here http://www.buzzsprout.com/2402204

Sorry, we should stay away from politics but when it comes to cats….(social media can really work, sometimes).

John Stewart

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