Only 48% of British young people watch broadcast television in an average week, the first time that the share has dropped below half, according to data from the regulator Ofcom. The proportion of those between 16 and 24 years old who tuned into traditional broadcasters has dropped steeply from 76% in 2018, as the use of online video-sharing platforms such as TikTok and YouTube has soared. Those young people who do watch TV spend 33 minutes a day on it, compared with an average of one hour, 33 minutes on video-sharing apps and websites – albeit often accessed through the TV. Children aged between 4 and 15 are also shifting away from broadcast television rapidly. Only 55% watched broadcast TV each week in 2023, compared with 81% in 2018. The division between different generations’ habits is stark, if not perhaps that surprising: 95% of the over-65s still watch television every week. Yet overall numbers of viewers of traditional broadcast media have been falling across the generations for several years. Who is making the devices used to stream video? One of the most prominent is Samsung. The Korean technology manufacturer has reported a strong rise in profits – although it said that demand for chips for artificial intelligence was a big factor. Samsung’s profits rose fifteenfold in the second quarter compared with last year. Operating profit rose to 10.4tn won (£5.8bn) in April-June, up from 670bn won a year earlier, Samsung said. The company is the world’s largest manufacturer of smartphones, televisions and memory chips. It is the last of those that has been behind its recent profit increase – although it is also counting on increased artificial intelligence features to sell more of its top-end phones. Share prices of companies with links to AI have boomed in recent years as investors try to work out who the big winners will be. Top among those companies have been the chip manufacturers and designers, although some of the enthusiasm appears to have waned in recent weeks. Nvidia, the biggest beneficiary, has fallen by 20% from its peak as something of a bubble has appeared to burst. The agenda • 10am BST: eurozone inflation rate (July; previous 2.5%; consensus 2.4%) • 1.15pm BST: US ADP employment change (July; previous 150,000; consensus 150,000) We’ll be tracking all the main events throughout the day ...
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