ITV Licence Renewals
This note considers the so-called 'digital dividend' in light of the recent ITV licence renewals.
The UK online population reached 17 million in February 2001, up around one-quarter on the year, on the strength of rising participation of women (to 44% of users) and of young people. We expect 4 million users to be added to the online population by February 2002, to reach 21 million, with growth at a lower rate than in 2000. |
Media |
April 2001 Access this report
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ITV Digital
This note has been prompted by a flurry of activity in UK television media: the renaming of ONdigital (‘ITV Digital’) and its absorption into the ITV mother ship; the launch of ITV Sport, a new pay-TV channel aimed at sports enthusiasts; the impending final results of BSkyB (‘Sky’) on 25th July 2001 (dealt with in a separate note issued on 20th July) and the renewed concerns over the funding of the UK cable companies. |
Media |
July 2001 Access this report
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ITV Digital - The Shareholders' Logic
The issues surrounding ITV Digital are complex and unclear. This report tries to unpick the tangled threads. It looks at the main financial issues and the manoeuvres with the BBC, the Office of Fair Trading and the set-top box manufacturers. |
Media |
November 2001 Access this report
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Alleged 25% Drop in ITV Viewing
The flow of news about ITV is going from bad to worse. But we think that the market may have misunderstood the real story behind last week's bombshell that ITV viewing has fallen by 25% in a year. This figure could have been predicted from existing data. |
Media |
January 2002 Access this report
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Tracing the Decline in ITV1 Viewing
This report picks apart the evidence on why ITV1 is rapidly losing audience share. It shows that more intense competition in terrestrial homes is the key reason, not the impact of the growth of the multichannel universe. The decline of ITV1 is across all times of day and almost all demographic groups. Can ITV turn itself around in the face of this secular decline in audiences? |
Media |
January 2003 Access this report
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The ITV Merger
The public debate about the ITV merger has revolved around whether the maintenance of two separate sales houses is the appropriate remedy to be imposed by any Competition Commission inquiry. We argue that the real issues are more complex. |
Media |
February 2003 Access this report
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The ITV Merger - The Final Hurdle
Last week Enders Analysis interviewed David Elstein. Elstein is leading a team attempting to put in place a new management at ITV in the event that the merger is allowed by the Competition Commission. This note carries his views on the remedies likely to be imposed by the Commission and also on the scope for cost savings and improvements in business strategy at the merged group. |
Media |
August 2003 Access this report
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ITV Licence Fees
Ofcom produced a tough and rigorous document on ITV licence fee renewals. Although the paper is dense and difficult to understand, we think it is bad news for ITV. The likely licence fee settlement is going to be higher than commentators might have expected six months ago. The prime reasons are Ofcom’s proposed move to assessing the ‘digital dividend’ on the basis of digital viewing, not households and, second, taxing the benefits of the lower costs of the merged ITV business. |
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July 2004 Access this report
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ITV audience and NAR under the CRR Remedy
Weak Q2 commercial viewing figures fuelled stories that ITV1 NAR could be approximately £100 million lower in 2005 unless audience share rallied in H2 2004. This was due to the Contracts Rights Renewal (CRR) remedy, imposed by the Competition Commission as a condition for the merger of the Carlton and Granada sales houses to create ITV Sales, which now controls over 50% of television advertising sales. |
Media |
August 2004 Access this report
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Ofcom - ITV Licence Fee Decision
Ofcom will announce at the end of June the new terms for ITV to operate the analogue portion of its broadcast licence for ITV1. According to Ofcom's own statements, it is obliged to estimate the full value of ITV’s operation of the analogue ITV1 service and then extract all this value – bar some profit and other small allowances – in the form of annual licence payments. To do so, Ofcom has announced a methodology based on what the winning broadcaster would bid in a hypothetical competitive tender. |
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June 2005 Access this report
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ITV1 NAR plunge in 2006
ITV plc national advertising revenues (NAR) from ITV1 fell by £50 million in 2005. This was caused chiefly by a loss of more than 6% in weighted share of commercial impacts in 2004, which enables a proportionately similar reduction in 2005 ITV1 NAR under the CRR remedy. It was offset by total TV NAR growth of about 2.5% in 2005
BT is clearly positioning its new, 21CN-based wholesale services as an economically viable alternative to both DIY and wholesale LLU |
Media |
June 2006 Access this report
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CRR (Cash Withdrawal Machine)
Total TV advertising expenditure is expected to fall between 4% and 7% in 2006. ITV1 will suffer most, with a projected fall in NAR of around 13-14%, but the rest of the TV industry is also starting to feel the pain |
Media, TV |
September 2006 Access this report
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ITV/NTL - a possible combination transaction
Under mounting competitive pressure from Sky, NTL needs to reinforce its position in content and has approached ITV about a possible combination |
Media, TV |
November 2006 Access this report
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NTL-Q3 results
Although NTL could use ITV programming to improve its competitiveness, it is difficult to see how yet another acquisition could be justified, given the managerial and financial burden that would result. Nevertheless, we believe that NTL will move heaven and earth to acquire ITV and is deeply serious in its intentions |
Media, TV, Fixed line, Telecoms |
November 2006 Access this report
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ITV1 Viewing Decline: Causes and Prospects
Having experienced an almost straight-line decline in its audience, ITV1’s 20% share of total viewing in 2006 is about half of what it was in 1992. Although the causes of this dramatic decline have varied, the result has always been the same. When and where will it end? ITV1 Viewing Decline: Causes and Prospects [2006-63] examines the most recent viewing trends, starting in January 2003 and coinciding with the launch of review. |
Media, TV |
November 2006 Access this report
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ITV - where next?
Today ITV officially rejected NTL's bid, currently worth around 120 pence/share with, among others, the consequence that Sir Peter Burt will have to continue to show up for meetings at ITV for the foreseeable future |
Media, TV |
November 2006 Access this report
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Sky's purchase of ITV shares
Using a little understood provision of the merger rules, the government has asked Ofcom to take a look at the Sky stake in ITV, just in case the OFT did not come up with the right answer the first time round. As a result of the intervention, Ofcom will decide whether the share purchase reduced the number of separately managed broadcasters in the UK. Since this is almost exactly what the OFT is already doing, it is impossible to see how Ofcom could reach a different conclusion to the OFT. In this sense, the intervention has little point |
Media, TV |
March 2007 Access this report
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BBC iPlayer: forever niche?
On 27th July the BBC will open access to the iPlayer to UK internet users, en route to a hard launch later this summer. This PC-based application allows the user to download BBC TV content after broadcast to view on the PC for a limited time, and provides a TV-like display on the PC. Delays to the launch will mean the iPlayer enters a field already crowded by other broadcasters, including Channel 4's 4oD service, ITV's broadband portal, Sky Anytime, as well as content aggregators such as Joost and Babelgum (both currently in beta) |
Media, TV, Internet |
July 2007 Access this report
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The CRR dividend - what dividend?
The Office of Fair Trading (OFT) has confirmed receipt of a formal request from ITV plc for a review of the Contract Rights Renewal (CRR) remedy and will announce its decision whether to proceed before the year is over |
Media, TV |
September 2007 Access this report
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Competition Commission view about the Sky stake in ITV
BSkyB’s 17.9% shareholding in ITV is likely to lead to a substantial lessening of competition in the all-TV market, according to the provisional findings of the Competition Commission (CC) investigation announced on 2nd October 2007 |
Media, TV |
October 2007 Access this report
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