London Live “Progressing Well” After £11.6 Million Loss

Compare and contrast this morning’s cheery statement from London Live chief operating officer Tim Kirkman…

“We are pleased with the numbers and London Live is now progressing well. When we started in the space we had no idea how it was going to work in practice. We have adapted quickly and have made it work for us and are now progressing well.”

… With their somewhat less chirpy financial figures, released today:

  • operating loss of £11.6m in the 12 months to the end of September 2014
  • excluding exceptional start-up costs, loss of £10m

The official line is “we planned to lose money, we will again this year, and next year too”.

“F**k it, just stick on another episode of Coupling…”




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Rafael Behr writes…

“By 2012, the number of Brits with more or less active Twitter accounts had overtaken the number of people who regularly bought a newspaper.”

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