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Disclosed digital revenues amongst FTSE All-Share companies rose 5.5 percent during the first half-year – a big turnaround from 10 percent decline in 2009 – in what has been a far better year so far for media companies across the board, Ernst & Young says.
E&Y media analyst Luca Mastrodonato: “The upturn has come as a surprise as many companies were not expecting a pick-up in advertising spend until at least 2011.
“Online classifieds are still suffering from cyclical pressures and struggled to grow during the same period. Publishers will be unable to grow their online revenues significantly until the recruitment and property markets pick up.