UK fixed telecoms market: broadband and telephony trends to Q4 2011
In this presentation we show our analysis of trends in UK broadband and telephony to December 2011, based on the published results of the major service providers.
Highlights for the December quarter include a return to the lower rate of broadband market growth seen prior to mid-2010, accelerating growth in the number of subscribers to high speed broadband and the continuing increase in market share of BT Retail and BSkyB at the expense of virtually all other players
This quarter’s edition includes a look at Openreach’s wholesale FTTP On Demand, planned for launch in 2013. |
Media, Fixed line, Internet, Telecoms |
February 2012 Access this report
|
Enders Analysis' Annual Conference
Enders Analysis co-hosted its annual conference, in conjunction with BNP Paribas and Deloitte, in London on 19 January 2012. The event featured talks by 13 of the most influential figures in media and telecoms, and was chaired by Sir Peter Bazalgette. An edited transcript of notes taken during the speaker presentations follows. |
Media, Technology, Telecoms |
February 2012 Access this report
|
TTG FY 2011-12 Q3 trading update
Volume growth remained negative, but manageable, and there appears to be little evidence that TalkTalk’s value proposition is losing its appeal
Strong operating leverage, cost reduction and the growing popularity of uncapped bundles has enabled a significant upward revision to EBITDA guidance. However, free cash flow guidance remains unchanged
Management’s confidence regarding churn and further efficiency gains strikes us as credible, but we remain cautious about the potential for strong cash flow growth beyond this financial year |
Fixed line, Telecoms |
February 2012 Access this report
|
Virgin Media's cable broadband speed upgrade: put that in your pipe
Virgin Media’s plan to double the line speed of most of its broadband customers is the latest in a series of moves to retain its position as the leading high speed internet service provider in the face of BT’s deployment of next generation access (NGA)
The move presages further price increases and an upgrade to offers for new cable customers, but is in the first instance about retaining the large existing base of cable customers currently on 10 Mbit/s |
Media, Fixed line, Internet, Telecoms |
January 2012 Access this report
|
UK broadband and telephony trends to Q3 2011, residential broadband projections to 2016
In this presentation we show our analysis of trends in UK broadband and telephony to September 2011, together with our latest projections for residential broadband subscribers and market shares to 2016. Highlights for the 2011 September quarter include accelerating growth in the number of subscribers to high speed broadband, and the continuing increase in market share of BT Retail and BSkyB at the expense of virtually all other players. This quarter’s edition includes a look at high speed broadband pricing, and our take on the new guidelines on broadband advertising. |
Fixed line, Telecoms |
December 2011 Access this report
|
TalkTalk Group 2011/12 H1 results: continuing strong financial performance, cloudier longer term outlook
TalkTalk Group’s H1 results saw a disappointing increase in subscriber churn, causing a minor downward revision to revenue and volume guidance for the current financial year
Management is making good progress in reducing costs and the company remains on track to meet its financial guidance for the full year
Customer satisfaction is improving and subscriber volume is expected to stabilise by June 2012. But the strength of competition from BT Retail raises questions about the potential for future growth in revenue and hence cash flow |
Fixed line, Telecoms |
November 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
|
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
|
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
|
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
|
TalkTalk Group FY 2010/11 results: solid financial performance despite high churn
TTG’s full year results were, in the most important respects, solid, despite customer service issues and high churn caused by the migration of former Tiscali customers onto a single set of platforms
We remain cautious about the speed with which churn can be reduced, but there is little sign of the problem spreading beyond the former Tiscali base
Operating leverage and cost reduction have been impressive and give us confidence that new financial guidance will be met, although other sources of growth remain elusive |
Media, Fixed line, Internet, Telecoms |
May 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
|
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
|
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
|
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
|
TTG Q3 2010/11 trading update: record churn
TalkTalk Group (TTG) lost broadband customers for the first time in its history in the quarter to December due to dissatisfaction among former Tiscali customers, and to a lesser extent, at AOL UK
But gross additions appeared to remain healthy and ARPU growth was strong, holding group revenue flat
The group remains on track to make guidance for the financial year to March. Beyond that, we remain optimistic about the prospects for further cost reduction, but reducing churn remains a daunting prospect |
Fixed line, Telecoms |
February 2011 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
|
TTG H1 2010/11 interim results: the Dido effect
TalkTalk Group (TTG) revenue growth for the six months to September was flat on a like-for-like basis; broadband net additions were affected by heavy churn among former Tiscali customers as the migration process got under way
Guidance for broadband net adds to March has been reduced by two thirds, but the prospect of improved efficiency from migrations and strong ARPU growth has enabled financial guidance for the full year to be maintained |
Fixed line, Telecoms |
November 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
|
Ofcom gives YouView clearance
Ofcom’s decision not to investigate Project Canvas under the Competition Act removes one more regulatory obstacle to the launch of the broadband connected TV service with the brand name YouView
It looks increasingly as if the YouView launch will experience further delay, with autumn 2011 looking steadily more likely as disputes continue over the satisfactoriness of the technical specifications released by YouView for meeting manufacturer needs |
Media, TV, Fixed line, Internet, Technology, Telecoms |
October 2010 Access this report
|
