Bank of Ireland & Spectrum today present a major piece of media research, "Digital Disruption", at the RTS Conference in Cambridge

Bank of Ireland Corporate Banking, in conjunction with Spectrum Strategy Consultants, today presented a major piece of research at the annual Royal Television Society Conference in Cambridge.

The research investigates the likely impact on the television and broadcasting industry as a result of technological innovation over the next seven years. The research concluded that the impact of 'Digital Disruption' upon consumer viewing habits is likely to be extensive with resulting challenges for broadcasters, advertisers and all those along the industry value chain.

Some of the more interesting findings, based on three "case" scenarios, predicted the possibility of losing substantial viewing impacts due to ad-skipping. This could place at risk £105m in the "base case" to four times this amount in the "myTV" scenario. *

However, new media services looked likely to increase and overtake the shortfall in the same time frame. One of the most exciting probabilities was that mobile television subscription could increase TV revenues by up to £1bn while on-demand spend could reach £1.6bn.

New players such as Google and Yahoo! might emerge as competitors for on-demand TV viewing.

Bill Greaves, Head of Media, Bank of Ireland Corporate Banking commented "It is our belief that the speed with which new technology is being introduced will only be surpassed by the speed at which production companies change the way they create programmes over the next few years. The Bank of Ireland/Spectrum research shows that we are in fact in an extremely exciting and dynamic market: technological convergence means that television will offer opportunities to shape and mould the industry. The winners will be those who use their platforms to encapsulate an increasing range of media."

Janice Hughes, CEO, Spectrum added "The results from this Bank of Ireland/Spectrum research shows that the new technologies offer as many opportunities as threats to the traditional revenue models to the commercial broadcasters. TV broadcasters have an exciting chance to develop more diverse ways to capture the British public's increasing appetite and share of wallet for media entertainment."

If you would like further information on the research, or would like to discuss any type of media financing please do not hesitate to contact Bank of Ireland on the numbers listed below:

Contact:

Bill Greaves
Head of Media
Bank of Ireland Corporate Banking
Ph: + 44 207 626 8401

Carol Gregory
Marketing Manager
Bank of Ireland Corporate Banking
Ph: +353 1 6044091

Victoria Brough /Sorrel Beynon
Powerscourt
Ph: +44 207 236 5630

* "base case" scenario assumes that a largely scheduled viewing environment remains to 2012

* "myTV" scenario assumes that on demand TV content consumption becomes mainstream with significant impacts on viewing habits and revenues

Notes to Editors:

Bank of Ireland
Bank of Ireland Corporate Banking has a dedicated Media Finance Team based in London. The Media Finance team was established at the beginning of February 2005 .The team is headed up by Bill Greaves along with senior directors Mark Birkenshaw, Simon Bumfrey, Geoff Marchant and Tony Tozzi and they represent the most experienced team of Media corporate bankers in the UK. Their remit is the provision of debt facilities, including working capital, contract discounting, asset finance (especially Intellectual Property Assets) and term lending (including both corporate and leveraged transactions) to the whole of the Media Sector, which includes Publishing, Marketing Services, Radio, TV broadcasting and production, Music, Games publishing and ancillary services, both in the UK, Europe and the US. The team also specialises in providing finance for structured tax products in the film finance market.

RTS
The RTS Cambridge Convention is the UK's pre-eminent high-level gathering of broadcasting executives. It takes place 15 - 17 September 2005 in Cambridge. The Convention will be opened by Rt Hon Tessa Jowell MP, Secretary of State DCMS. International speakers include Terry Semel, Yahoo; Frank Sixt, Hutchison Whampoa and Blair Westlake, Microsoft. Other participants include Charles Allen, ITV plc; Tess Alps, PHD Group; Peter Bazalgette, Endemol Group; Emily Bell, Guardian Unlimited; Jana Bennett, BBC; Josh Berger, Warner Bros Entertainment UK; Tony Cohen, FremantleMedia; Andy Duncan, Channel 4; Richard Freudenstein, BSkyB; Mathew Horsman, Mediatique; Steve Hewlett, Writer and consultant; Janice Hughes, Spectrum; Luke Johnson, Channel 4; David Liddiment, All3Media; James Murdock, BSkyB; John Pluthero, Energis; James Purnell, Broadcasting Minister, DCMS; Stewart Purvis, City University; Alan Rutherford, Unilever Plc; Simon Shaps, Granada; Jon Snow, Channel 4 News; Mark Thompson, BBC and Gerhard Zeiler, RTL Group.

The Royal Television Society is the leading forum for discussion and debate on all aspects of the television community. In a fast changing sector, it reflects the full range of perspectives and views. In a sector that is simultaneously expanding, consolidating and fragmenting, the Royal Television Society provides unrivalled opportunities for learning and getting in contact with people at all levels across the television community.

Spectrum
Spectrum is the UK's leading strategy consultancy focused on the converging industries of telecommunication, information technology and media as well as on the areas where these industries intersect, such as wireless, data communication and interactive TV. Through their sectoral focus, Spectrum has built unparalleled sector knowledge and skills. Clients range from the world's leading telecommunications, entertainment, publishing and information players, regulators and public sector groups to companies pioneering wireless and software applications. Spectrum also works for clients deploying new digital delivery channels such as financial institutions, retailers, utilities and start-ups. It provides them with a wide range of strategy and implementation advice including strategic planning, feasibility assessments, business case development, strategic technology decisions, strategic sourcing, business costing and modelling, policy development, commercial strategies, product definition, advertising and marketing as well as implementation assistance such as partner selection.

Spectrum has a long association with the RTS and was also responsible for the creating the model for the 2003 RTS End Game Scenario Session.