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Enders Analysis provides a subscription research service covering the media, entertainment, mobile and fixed telecommunications industries in Europe, with a special focus on new technologies and media.

Our research is independent and evidence-based, covering all sides of the market: consumers, leading companies, industry trends, forecasts and public policy & regulation. A complete list of our research can be found here.

 

Rigorous Fearless Independent

Karen Egan, at Enders Analysis, says: “The additional network choice is not worthwhile from a policy perspective in my view and it also makes it considerably more likely that that alt-net will never make any money.”

“When the private sector has been funding a sector, but starts to retreat as the economics are not stacking up as originally hoped, it doesn’t seem like good use of taxpayer’s money to prop it up,” says Egan.

“We are supposedly a free market economy, after all – and if the markets are telling you that there isn’t space for three separate fibre networks in an area then it’s probably quite right about that.”

Soon after the protracted takeover process ended, Enders Analysis’ François Godard issued a note that said MFE “finds itself in a stronger position to talk to streamers about content deals in the follow-up of this summer’s announcements. In sum, the merger… is a welcome jolt to the European television industry.”

Looking further into the future, Godard’s colleague, Tom Harrington, says: “The real power lies with who controls how people watch, pay and interact with content.” Here, we’re talking about a bunch of unknowns: What role AI search and Google might play, the possibility of ‘super aggregator’ apps, and newer technologies that we can’t yet even envisage. This is where we’re headed, many believe.

The new measures could also include forcing Google to ask for permission to use publishers’ content in its AI Overviews “without affecting if and how they appear in Google Search,” which may positively impact UK publishers. Major UK publishers’ visibility in search results dropped by up to 80 percent compared to 2019 correlating to the rise in frequency of the AI results, according to a report from Enders Analysis.

Warner Bros. Discovery reportedly rejected Paramount Skydance's initial offer, deeming it too low, according to sources familiar with the matter, cited by Bloomberg. Paramount, owned by David Ellison, the son of Oracle's co-founder, reportedly offered $20 per share. Rejecting an initial offer is relatively standard in a takeover bid, "but it means things are moving forward," says François Godard, an analyst at Enders.

It's impossible to assess the influence of its additional programs, but for Pierre Maes, a sports rights consultant and author of the book "The Ruin of French Football," "it's hard to imagine that they could convince people to subscribe." "We have the impression that Nicolas de Tavernost is sticking to familiar paths, free TV," says François Godard, an analyst at Enders Analysis.

 

But the situation can also be interpreted differently, from a more financial than marketing perspective. The loss of even a single match would push Canal+ to reduce its bid, as the end of exclusivity represents a loss of value for both subscribers and prospects. "The exclusivity argument is indeed decisive for recruiting new customers," adds François Godard, an analyst at Enders Analysis.

 

BT’s recent protests against the very high “government-inflicted” costs in the UK versus other countries likely relate to business rates, which are already sky-high by European standards and set to rise further.

The business rates reform has some worthy aims in providing some permanent relief for shops and pubs, but at the expense of discouraging much-needed investment in utilities and telecoms by dramatically inflating the cost.

Telecoms business rates also discourage investment by being hard-to-predict, and are distortive between competitors with dramatic differences in unit costs, with these issues partially addressable through valuation reform.

Disney+’s content deals with FTA operators in the UK, Germany and Spain have been characterised by the company as a lever to boost engagement from its older audiences but also younger viewers increasingly disconnected from broadcasters

Greater volumes of proven local programming on Disney+ can only be helpful—the divergent viewing tastes of Germany and Spain are case studies in the regional specificities of content demand

Further, a greater variety of content and release patterns will challenge current Disney+ viewing behaviours and could create greater urgency around usage