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Claire Enders founded Enders Analysis in 1997 to provide senior corporate managers with an alternative perspective on 3G and the Internet from the uniformly optimistic industry and City research before the bubble burst.

Today, Enders Analysis offers its subscribers research generated by a programme covering the major commercial, regulatory and strategic issues in mobile and fixed line telecoms, TV and the Internet, as well as the major content businesses such as music, publishing and advertising. Our focus is on the European markets but we assess all key trends and regulatory issues in our sectors in major markets such as the US or Japan.

Our research is independent, impartial and grounded in analysis. It is not influenced by stock market considerations or corporate finance mandates. We have no interest in acting as advocate and promoter of new technologies or of specific companies and their strategies, unless we believe in them. We aim for the quality of real understanding that our readers need as they consider investment decisions.

In our view, this provides us with a significant competitive advantage over existing sources of research:

  • Investment banks may struggle to provide truly objective research because of potential conflicts of interest with trading objectives or corporate finance mandates. They tend to take for granted the success of corporate strategies and to misunderstand regulatory processes and objectives.
  • Market research firms, industry analysts and even independent consulting firms all face strong pressures to exaggerate the speed of adoption of new technologies and the prospective success of market participants, and assume that capital will be available for speculative schemes.

We are proud of our record of accuracy over the last nine years. A list of report summaries can be found here.


Team
 

James Barford

James Barford covers mobile operators and device manufacturers.

James is a former senior equity analyst with Lehman Brothers, writing on incumbent fixed line and alternative network telecoms companies. He was previously a consultant with PwC in the telecoms strategy and policy team, working extensively with telecommunications operators and regulators in Europe, Asia and South America.

James is a qualified chartered accountant and holds a degree in mathematics from Oxford University.

 

Charles Bruce

Charles Bruce is a researcher and tracks news for the team.

He holds a degree in economic history from the University of St Andrews.

 

Dr. Alice Enders

Alice Enders coordinates the research programme of the company. She also covers broadband market developments in France, in particular local loop unbundling (LLU) and related telephony and content delivery strategies. Alice also covers online music.

Alice is a former senior economist at the World Trade Organisation (WTO) in Geneva, where she last covered competition policy and telecoms regulatory developments in the European Union. She previously was professor of economics at York University in Canada.

Alice holds a doctorate in economics from Queens University in Canada.

 

Claire Enders

Claire Enders started Enders Analysis in 1997 and leads the company. She previously worked in senior corporate development and strategy roles in all sectors of the UK entertainment industry (including cable, television and music).

She holds a BA from Yale and an MBA from London Business School.

 

François Godard

François Godard covers broadband and digital TV developments in France, Italy and Spain.

He has been an independent media consultant since 1991. His clients on research projects have included the Conseil Supérieur de l’Audiovisuel, Intelsat and the European Broadcasting Union. François has also written reports published by Informa and Screen Digest. He previously worked for the Aegis media services group.

François graduated from the Institut d’études politiques in Paris; he also holds a degree in modern literature.

 

Grant Goddard

Grant Goddard covers the radio/audio sector. As a senior manager and consultant within the radio industry, he has developed and implemented launch strategies for groundbreaking radio brands, including Kiss FM (London), Radio City (India) and Radio Juventus (Hungary). He has also written extensively about the radio and music industries for trade and consumer publications.

Grant studied economics at Durham University and is part way through an MA in Media Management.

 

Will Harris

Will Harris covers mobile telecoms operators.

He is a former senior manager at Orange in the Corporate Strategy team, working on convergence, competitive positioning and new technology issues.

Will is a qualified chartered accountant and holds a degree in economics from Bristol University.

 

Ian Maude

Ian Maude covers the online advertising sector and broadband content delivery strategies in the UK, France and Germany.

He is a former VP at AOL Europe, where he ran the UK commercial and business development organisation. He also played a lead role in establishing the IAB, the industry body responsible for promoting interactive marketing.

Ian holds an MBA from Warwick University.

 

Douglas McCabe

Douglas McCabe covers online publishing, new media business models and the impact of new media on existing markets.

He is a former director of Fish4, the classified advertising portal, and has held senior marketing, operations and editorial positions in retail and B2B magazine publishing.

Douglas is a literature and cinema graduate of Stirling University.

 

Adam Rumley

Adam Rumley is a research analyst covering fixed line telecoms operators in the UK and Europe.

He holds a masters degree in physics from Imperial College London.

 

Ben Rumley

Ben Rumley is a research analyst covering music publishing and online music.

He holds a masters in mechanical engineering from Bristol University, and studied at Purdue University in the US.

 

Dr. Toby Syfret

Toby Syfret covers television market developments in the UK and continental Europe.

He has provided independent consultancy services on international TV broadcast and new media development issues. He is a leading international authority on ‘peoplemeter’ measurement of television audiences. Toby previously managed the Ogilvy and Mather European media centre, and was head of new media at J. Walter Thompson.

Toby holds a doctorate in philosophy (developmental psychology) from Cambridge University.

 

Sophy Thorpe

Sophy Thorpe handles all the production and company administration.

She formerly ran her own presentation preparation business and was a member of the marketing communications group at HSBC.

 

Ian Watt

Ian Watt covers fixed line telecoms operators including incumbents and new entrants in the UK and continental Europe.

He is a former senior advisor with PwC in the telecoms strategy team where he specialised in market analysis, working extensively with fixed and mobile operators in Europe and around the world. He previously held strategy and marketing positions at BT International and ITT.

Ian holds an MBA from INSEAD.

 
 
 
News
 
The Financial Times

Commenting on the ruling of the Copyright Royalty Board in Washington on the adjudication of royalty rates for the music industry (Panel of judges imposes truce between music producers and digital sellers), the FT observed that "the ruling gave none of the parties what they had asked for, but allowed each to claim that it would boost the nascent but growing digital music market".

Enders Analysis provided testimony to the board. Ben Rumley said the outcome was a fair result, but added that Apple's high market share meant it was unlikely to attract many new entrants to the market.

04 Oct 2008
 
The Daily Telegraph

In an interview with the chief executive of Microsoft, Steve Ballmer (Microsoft's Steve Ballmer sets out internet search ambitions), The Daily Telegraph revealed Microsoft's ambition to become second placed search engine in the £22.5bn global online advertising market despite the failure of its attempt to buy Yahoo. Ballmer said: "The first thing we've got to do is become number two in search, and acquiring Yahoo! is not key to becoming number two in search. Acquiring Yahoo! was really about picking up a base of advertisers that would help us because the advertisers are part of the product in search... and having more advertisers helps you deliver better, more relevant ads."

 

Asked for his view, Ian Maude said: "Even number two looks like a big ask unless Ballmer can somehow persuade Yahoo! shareholders to sell to Microsoft."

02 Oct 2008
 
The Financial Times
Following BSkyB's filing to the Competition Commission, which is investigating Project Kangaroo, the online television service planned by ITV, Channel 4 and BBC Worldwide (BSkyB concerns over Project Kangaroo), the Financial Times explained the background to Sky's complaint:  "Many of the channels on Sky’s subscription TV service draw heavily on archive programming, [therefore] the service might be expected to result in a substantial lessening of competition in the nascent video-on-demand sector."  
 
The FT revealed that Sky was claiming that the content provided by its in-house production capabilities "would put Kangaroo’s shareholders high on the list for retailers wanting to acquire VOD content [thus] reducing competition for whole rights... although Kangaroo argues that online it is unlikely to gain a similar market share owing to competition from international technology providers such as Google and Apple".
 
Chris Goodall was asked for his view.  He said: “Kangaroo is bound up with regulation of pay TV in the UK in general. There has to be a question whether the British system is overly protective towards the terrestrial broadcasters.”
18 Sep 2008
 
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