About finding the right balance - Channel 4 annual report
Channel 4 enjoyed a bumper year in 2012 with regard to delivering its public service remit, epitomised by the London Paralympics
Public service successes notwithstanding, the continuing decline in main Channel 4 audience share post digital switchover is not being fully compensated commercially by large gains across the rest of the Channel 4 portfolio
Overall, we expect group revenues to remain quite stable in 2013 and 2014, but current record levels of investment in programme content origination have yet to bear fruit in terms of strong returning series |
Media, TV |
May 2013 Access this report
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Numericable back into growth
In the past two quarters the French cable operator has seen its retail segment resuming growth after years of decline.
The improvement strengthens Numericable’s attractiveness as a consolidation partner. |
Media, Mobile, TV, Fixed line, Telecoms |
May 2013 Access this report
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TalkTalk Group Q4 2012/13 results: Return to revenue growth
Following a return to broadband subscriber growth last quarter, TalkTalk has now returned to overall revenue growth for the first time since acquiring Tiscali in 2009
Pay TV net adds nearly doubled to 150k; the associated SACs weighed on EBITDA, but TV did support the upper tier ‘Plus’ base returning to solid growth
TTG’s outlook is positive, save for uncertainties over regulation, and the unpredictable impact of BT Sport on broadband market shares |
Media, TV, Fixed line, Telecoms |
May 2013 Access this report
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BT Sport - not a game changer
BT has thrown down the gauntlet to Sky, as it has launched a premium sports offering that will be free to all BT broadband customers upon its launch on 1 August 2013 The product being ‘free’ makes it a potentially effective defence of BT’s broadband base, with the possibility for win-back as well, but this also raises the direct operating losses that have to be set against these benefits The main damage to Sky comes from elevated rights costs, with there being a risk of further inflation in three years as another major round of renewals comes up |
Media, TV, Fixed line, Telecoms |
May 2013 Access this report
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Threat and opportunity for Sky - Q3 2013 results
Q3 2013 results show a sound financial performance and strong growth in home communications, offset by low DTH net additions under a testing economic climate With a heavy emphasis on its own product initiatives in the broader connected screen and on demand space, the results release also shows Sky to be preparing for increasing competition from BT Vision and others in the IPTV space Although the rising competition promises extra programme and marketing costs and constraints on future product price increases, we expect limited impact on subscriber numbers, but also significant opportunitie |
Media, TV, Fixed line, Telecoms |
May 2013 Access this report
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TV platform growth forecasts 2013-2020
The completion of digital switchover has left an equilibrium between the digital satellite, cable and terrestrial platforms that is not expected to alter significantly by 2020
The main anticipated change over the forecast period is pay-TV subscription take-up where the 50/50 split between pay and free TV households is expected to rise steadily to 60/40, or even 67/33 if we include more individually-, as opposed to household-, based OTT online services such as Netflix, LoveFilm or Sky’s NOW TV |
Media, TV, Technology, Telecoms |
April 2013 Access this report
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Virgin Media Q1 2013 results: Early price increase boosts revenue
Virgin Media’s consumer business had a very strong quarter in revenue growth terms, but a weaker one in subscriber terms, both driven by the annual price increase occurring during the quarter
On the wholesale side, the company signed up both Sky and two mobile operators for backhaul services, likely at BT Wholesale’s expense
Net net Virgin Media is well on course, with the completion of the acquisition by Liberty Global expected by the end of Q2 unlikely to derail this |
Media, Mobile, TV, Fixed line, Telecoms |
April 2013 Access this report
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The ITV merger ten years on
In 2003, the Competition Commission imposed the CRR remedy as a condition of the proposed merger of Carlton and Granada to allay advertiser fears that the new ITV plc would use its market power to leverage higher airtime prices on ITV1 CRR made it possible to stop the ITV1 premium from rising and yet the ITV1 premium has risen almost without a blip since 2003. |
Media, TV |
April 2013 Access this report
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Clear horizon for Sky Deutschland
Sky Deutschland is reaping the benefits of its re-launch using BSkyB’s model, with an improving content offering and quality of user experience, plus a favourable environment for household consumption in Germany.2012 results came in very close to our forecasts and we predict that Sky Deutschland will break even at EBITDA level in 2013 and turn cash flow positive in 2015. |
Media, TV, Fixed line, Telecoms |
March 2013 Access this report
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Netflix managed satisfaction
Netflix continues to expand its global base on foundations that look slightly less shaky than a year ago as the establishment shows signs of becoming more positive to the upstart in its midst
There has been much talk of the OTT cord cutting threat to pay-TV platforms, yet the real threat lies more with certain broadcast TV channels, especially those specialising in children’s and archive entertainment series |
Media, TV, Internet, Non-UK Media |
March 2013 Access this report
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The changing face of ITV: FY 2012 results
Highlights of 2012, which saw double digit EBITA growth for the third year running, included ITV outperformance of the advertising market, strong organic growth in ITV Studios and a large increase in Online, Pay & Interactive revenues The outlook for 2013 suggests that EBITA could see double digit growth for the fourth year running. |
Media, TV |
March 2013 Access this report
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BT steps into ESPN's trainers
BT Group’s acquisition of ESPN’s television business in the UK and Ireland marks an important step in cementing BT Sport’s position as the number two premium sports provider from the moment of launch.
The acquisition also raises the stakes, leaving BT with the strategic challenge of what distribution to opt for on the satellite and cable platforms to mitigate the high costs of BT Sport, but without overly sacrificing its USP for strengthening customer retention and building demand for high speed broadband on its own platform. |
Media, TV, Fixed line, Telecoms |
February 2013 Access this report
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Football and the EU: Careful what you wish for
In 2006, the EU Commission forced the Premier League to sell TV rights to at least two separate broadcasters. The explicit purpose was to encourage the return of some matches to free-to-air channels and to stimulate competition, driving down prices and encouraging more people to watch football on TV The regulatory intervention has had none of the intended effects. |
Media, TV |
February 2013 Access this report
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Slides accompanying Media & Telecoms: 2013 & Beyond (part 2)
Slides from the presentations by the following speakers at the Media & Telecoms: 2013 & Beyond conference on 15 January 2013: •Anthony Wood, CEO, Roku •Anne Bouverot, Director General, GSMA •Thomas Hesse, Chief Digital Officer, Bertelsmann |
Media, Mobile, TV, Fixed line, Press, Internet, Telecoms |
February 2013 Access this report
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Media & Telecoms - 2013 & Beyond, part 2
Enders Analysis co-hosted its annual conference, in conjunction with BNP Paribas and Deloitte, in London on 15 January 2013. The event featured talks by 14 of the most influential figures in media and telecoms, and was chaired by Sir Peter Bazalgette. |
Media, Mobile, TV, Fixed line, Press, Internet, Technology, Telecoms |
February 2013 Access this report
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Sky customers, content and technology: Q2 2013 results
Tough economic conditions may have blunted DTH growth in the traditionally strong Christmas quarter, yet the Q2 2013 results show the underlying business to be in good health: highlights including strong multi-product and ARPU growth and impressive cost efficiencies
As a result, Sky has managed to deliver a sharp increase in operating profits, whilst simultaneously building its content strengths and retaining its technology focus on product improvements and innovation |
Media, TV, Fixed line, Telecoms |
February 2013 Access this report
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Media & Telecoms: 2013 & Beyond (part 1)
Enders Analysis co-hosted its annual conference, in conjunction with BNP Paribas and Deloitte, in London on 15 January 2013. The event featured talks by 14 of the most influential figures in media and telecoms, and was chaired by Sir Peter Bazalgette. |
Media, Mobile, TV, Fixed line, Press, Internet, Music and Radio, Technology, Telecoms |
January 2013 Access this report
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Slides accompanying Media & Telecoms: 2013 & Beyond (part 1)
Slides from the presentations by the following speakers at the Media & Telecoms: 2013 & Beyond conference on 15 January 2013:
•Sir Martin Sorrell, CEO, WPP
•Michael Tobin, CEO, Telecity Group
•Liv Garfield, CEO, Openreach
•Dido Harding, CEO, TalkTalk Group
•Victor Zhang, CEO, Huawei UK & Ireland
•Cindy Rose, Executive Director of Digital Entertainment, Virgin Media |
Media, Mobile, TV, Fixed line, Press, Internet, Music and Radio, Technology, Telecoms |
January 2013 Access this report
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The rise of connected viewing
The development of the Digital Britain infrastructure, introduction of tablets, increasing connectivity of TV sets and launch of on demand OTT services over the internet have greatly intensified interest in connected viewing and its impact on the traditional broadcast model No single source of audience measurement for viewing of long- and short- form video content across all screens yet exists, though current market data suggest that connected viewing occupies a c. |
Media, TV |
January 2013 Access this report
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YouTube’s Original Channels venture
YouTube continues to evolve away from user-generated content with the expansion of its native Original Channels initiative in the US, Europe and Japan
Professional and semi-professional content is key to increasing YouTube’s sellable video inventory, raising advertising yield and attracting brand advertisers
Whilst YouTube is the leading global distribution platform for professional short-form video, it poses little immediate threat to TV viewing or revenues |
Media, TV, Internet |
January 2013 Access this report
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