"In their clockwork orange world, UK publishers are trying to get to grips with what they hope is their digital future. It is easy to believe that good times are just around the corner. But they're not." Colin Morrison offers some predictions for the 10 losers and winners in the media race to become (or remain) relevant, durable and profitable in the 21st century.

The broadcaster reported a 1% fall in ad revenue in the first quarter but expects to see a rebound in the second, with May up 6% and June up between 12% and 17%, thanks to campaigns around the Queen's diamond jubilee and the Euro 2012 football tournament. This means that ITV's second quarter TV ad revenues will be up an impressive 7%, helping to lift revenue across the first half to about 3% up over the same period last year, as the broadcaster's "summer of love" with advertisers kicks in.

In this media analysis, Roy Greenslade writes that the digital revolution was the major topic at this week's annual Periodical Publishers' Association conference in a London hotel. "Indeed," he says, "the two opening sessions ... were all about the need to rise to the online challenge. Or, to quote the conference organisers, about coping with the problems presented by the 'platform-agnostic, multi-media, channel-neutral' world."

Trying to stop customers from switching to cheaper rivals, Spain's largest telecommunications company is out with the TU Me app that allows free calls and stores data for users online. It will be offered worldwide to users of Apple's iOS software from today at no cost regardless of the phone operator, Telefonica Digital Chief Commercial Officer Stephen Shurrock said in an interview with Manuel Baigorri. The TU Me app will offer communication services including text messages, calls, sharing photos and voice-mail, he said.

Speaking at the Periodical Publishers' Association meeting on Wednesday, Andrew Rashbass discussed the publication's online digital strategy. As for the growth in tablet revenue, a platform he said offered a 'lean back' approach to content consumption, similar to that of magazine and newspaper reading, he added; "It is no longer possible to capture the same share of readers' wallets as it used to be. We believe that a 'lean back' approach does sit in this nice place where you are able capture the reader's money as well as the advertisers' money."

According to results garnered from the latest Young Adult Power index, young users said they are currently using Twitter at least once a day, while the number of Google+ users from the group grew by 32% from readings in the last quarter. In more good news for the microblogging site, the index revealed that over 53% of the 540 young participants said they were on Twitter; this making for a huge increase on the 42% that said had an account in late 2011. The group was made up of 18-24 year olds - 97% of which were Facebook users.

The personalized marketing platform gained four million customers in the last six month to put it past the new milestone just 2.5 years after launch. O2 Media said the growth was attributable to a number of market drivers. Firstly, the growth of the smartphone market and what consumers want to do on their devices is rapidly changing. Secondly, it said that customers are learning that a rich media platform combined with location, preferences and unique offers mean they can benefit from everyday offers or information that help their daily life.

From the end of May, the magazine hopes to gather together its daily content into a weekly bundle to be read on iPads, e-readers, desktops, laptops, iPhones and other mobile devices. The weekly journalism trade magazine that went monthly four years ago after a period when it looked likely to disappear may become a weekly once more. But it will be in digital form rather than in print. Its monthly print edition will continue to be produced as well.

Terra Networks, the Latin American online media company that emerged out of a high-profile dotcom-era boom and bust story, is planning to launch in several European countries, with help from its Spanish parent company, Telefnica. Launched as the internet arm of Telefnica, Terra saw a near threefold jump in its share price at its initial public offering in 1999, valuing it at $10.99 billion. It then bought Lycos for stock in a $12.6 billion transaction, only for its value to plunge.

The next charter period will see the almost universal adoption of internet-connected TV sets, abundant content available via portable devices and a radically changed UK media landscape influenced as much by the likes of Google, Facebook, Amazon and Apple as BSkyB. Against this background the next DG with have to spell out a renewed purpose for the BBC within a fully connected UK, which is feeling the twin forces of economic globalisation and political devolution. Not to do so could inevitably see it pass into terminal decline, and become a great 20th century institution that didn't quite make it into …