UK Residential Broadband Market 2010
The decline in UK residential broadband market growth has paused due to accelerating adoption by older householders and increased household formation. We expect 970,000 net additions in 2010 and 20.5 million broadband households by 2015. However we expect growth will continue to decline from 2011 as the impact of the government spending review feeds into consumer confidence and the market becomes increasingly saturated |
Media, Mobile, TV, Fixed line, Internet, Technology, Telecoms |
October 2010 Access this report
|
Virgin Media Q3 2010 results: resilience under pressure
VMed’s Q3 results showed continuing strength in the face of heavy marketing by BT Retail and BSkyB, although cable churn increased significantly
There are plenty of further challenges on the horizon, including a downturn in consumer confidence and later, the launch of YouView and wider deployment by BT of next generation access
The broad based nature of the company’s growth and its plans for further product development in TV and broadband continue to give us confidence in the potential for further growth in cash flow, albeit at a more modest pace |
Media, Mobile, TV, Fixed line, Internet, Technology, Telecoms |
October 2010 Access this report
|
BT Q2 2010/11 results: digging in
Group performance to September was affected by increased investment in fibre and other defensive measures, as expected
Despite strong retail broadband subscriber growth, the core business remains under siege. High speed broadband should – eventually – provide an effective defence, but not much more
The Global Services turnaround is continuing, and further progress at GS supported by improving stability in the rest of the group should enable new guidance to be met |
Fixed line, Telecoms |
November 2010 Access this report
|
HD platform differentiation
A large gap has opened up between the different platforms in the five years since HD launched in the UK, with the pay-TV platforms – above all Sky – gaining a large lead over the free-to-air satellite and terrestrial platforms
With HD Ready TV sets now counting for almost half the total population of TV sets in the UK, the big issue facing the free-to-air platforms is the number of channels, where Sky (now 52 HD channels) and Virgin Media (now 28 HD channels) are expanding their lead over the free-to-air platforms Freeview (now 4 channels) and Freesat (now 3 channels) |
Media, Mobile, TV, Fixed line, Internet, Technology, Telecoms |
November 2010 Access this report
|
UK broadband and telephony trends to September 2010
In this short presentation we show our analysis of trends in UK broadband and telephony to September 2010, based on the published results of the major service providers and Ofcom telephony data. We include our own estimates where reported data is incomplete. This quarter’s edition includes a revision to some historical trends resulting from our own interpretation of BT’s recent adjustment to the volume of unbundled lines. |
Media, Fixed line, Internet, Telecoms |
December 2010 Access this report
|
UK DTV platform growth: 2005-20150
With the completion of digital switchover still on track for mid 2012, stabilisation of the main digital broadcast platforms is expected, with roughly equal numbers of subscription pay-TV and free TV homes, though with marked differences between the platforms in terms of demographic composition and the proportion of pay-TV customers |
Media, TV, Internet, Technology |
December 2010 Access this report
|
BT Q3 2010/11 results: BTGS on the level; fibre investment continues to impact group
BT Global Services is generating cash ahead of schedule and the company’s strategy for defending the core business is gaining traction
Group performance continues to be affected by increased capital expenditure due to investment in next generation access
The company is on track to meet guidance, although prospects for further upside remain limited |
Fixed line, Telecoms |
February 2011 Access this report
|
UK broadband and telephony trends to December 2010
In this short presentation we show our analysis of trends in UK broadband and telephony to December 2010, based on the published results of the major service providers. We include our own estimates where reported data is incomplete. This quarter’s edition includes a look at Ofcom’s recent research into broadband speeds and its response to the Advertising Standards Authority’s review of broadband advertising. |
Fixed line, Telecoms |
March 2011 Access this report
|
Next Generation Access in Europe
European regulators are struggling to find the right balance between promoting the competitive impact of local loop unbundling (LLU) and encouraging investment in next generation access networks by incumbents and others
In continental Europe, regulators have tended to focus on the provision by incumbents to competing providers of access to physical infrastructure. This affords competing providers a high degree of product differentiation, but tends to be relatively uneconomic, to the detriment of unbundlers in markets where the cable operator is strong |
Fixed line, Telecoms |
March 2011 Access this report
|
Ofcom’s wholesale charge proposals: slightly negative for BT, slightly positive for others
Some of Ofcom’s proposed wholesale charge controls for Openreach fixed access services sound stringent
However, we estimate that the overall financial impact on BT and other players is likely to be very small
We do not expect the proposals to result in changes to many retail prices, but they should tilt the playing field slightly in favour of BT Retail’s competitors, particularly smaller providers of broadband and business services |
Fixed line, Telecoms |
April 2011 Access this report
|
Fujitsu’s rural FTTP announcement
Fujitsu UK’s announcement of plans to provide wholesale fibre-to-the-premise (FTTP) to five million premises potentially poses a significant threat to BT
However, deployment is contingent on the project attracting at least 60% of the available state funding and significant improvement by Openreach of its terms for Physical Infrastructure Access (PIA) |
Fixed line, Telecoms |
April 2011 Access this report
|
BT Q4 2010/11 results: guidance met but fundamental outlook unexciting
BT met its full year guidance for the second year running, but new guidance reflects the weak revenue outlook and limited potential for further cost reduction
Group performance continues to hinge on capex levels, in particular deployment of next generation access, scheduled to continue until 2015
BT is not a financial basket case doomed to be eaten alive by mobile, satellite, cable or internet-based alternatives. But nor does it look like a huge growth story |
Fixed line, Telecoms |
May 2011 Access this report
|
Mobile revenue growth and outlook Q1 2011
In this presentation we show our analysis of revenue growth trends for mobile operators in the top five European markets (UK, Germany, France, Italy and Spain). The historical analysis is based on the published results of the operators, although they include our estimates where their data is inconsistent or not complete. |
Mobile, Telecoms |
May 2011 Access this report
|
UK broadband and telephony trends: spring 2011
In this presentation we show our analysis of trends in UK broadband and telephony to March 2011, based on the published results of the major service providers. This quarter’s edition includes an updated outlook for broadband market subscribers and market shares to 2015. |
Fixed line, Telecoms |
June 2011 Access this report
|
UK residential high speed broadband outlook: leading the horse to water
BT’s plans to deploy next generation access, combined with state-aided rural broadband projects, look set to give almost three quarters of UK households access to high speed broadband by 2016
New wireless technology is a feasible substitute for wireline for some low-end users and in specific areas, but we do not expect it to have a major impact on high speed broadband deployment |
Media, Fixed line, Internet, Telecoms |
July 2011 Access this report
|
BT Q1 2011/12 results: marking time
BT reported another quarter of strong growth in broadband volume, helped by high competitor churn and accelerating take up of the Infinity high speed broadband service
But broadband volume growth did not feed through to financial performance at BT Retail, Global Services remained stuck in low gear and BT Wholesale performance weakened further
The company should make its guidance for the year to March, but evidence that it will do more than the minimum remains elusive |
Fixed line, Telecoms |
August 2011 Access this report
|
UK broadband and telephony trends: Summer 2011
In this presentation we show our analysis of trends in UK broadband and telephony to June 2011, based on the published results of the major service providers. This quarter’s edition includes a first look at high speed broadband subscriber volumes, and our analysis of broadband growth in 2010 based on data recently released by Ofcom. |
Fixed line, Telecoms |
August 2011 Access this report
|
Openreach's revised pricing for Physical Infrastructure Access
Openreach has announced large cuts in the prices of some important components of physical infrastructure access (PIA). A further substantial reduction in duct prices is possible as a result of an adjustment by Ofcom to Openreach’s regulatory asset value (RAV)
The reductions are helpful to the economics of bids by altnets such as Fujitsu for government funds to deploy rural next generation access (NGA), and to Virgin Media, as it expands its existing cable network footprint |
Fixed line, Telecoms |
October 2011 Access this report
|
Sky still climbing, but going getting tougher
Sky’s Q1 2012 produced strong 16% year-on-year headline growth in adjusted operating profits, although weakening TV product net additions underlined the challenging economic conditions
Churn remains comparatively low in spite of the economic conditions, while Sky’s current round of major investment in entertainment content, now showing the first signs of bearing fruit, could prove vital to holding churn down and stimulating gross additions |
Media, TV, Fixed line, Telecoms |
October 2011 Access this report
|
BT Q2 2011/12 results: light before the dawn?
BT reported its eighth successive quarter of strong growth in broadband volume and is aiming to complete deployment of next generation access one year early, yet within existing capex guidance for the group
Progress at Global Services and BT Wholesale is continuing, but remains very gradual
We continue to expect guidance for the current financial year to be met, though not significantly exceeded. But broadband momentum and excellent cost control suggest the prospects for FY2012/13 are improving |
Fixed line, Telecoms |
November 2011 Access this report
|
