Publications

Format: Apr 2015
Sector(s) Datesort ascending
Mobile TV: Brussels gets bossy

The European Commission has backed DVB-H as the common standard for mobile TV in an attempt to boost investment and rollout of services

Telecoms, Mobile 23 July 2007
Royalty regime for online music services in the UK

The UK recorded music industry now has certainty on the royalty regime for online music services until 2009 as a result of the ruling issued last week by the UK Copyright Tribunal, with little impact on underlying business models

Media, Music and Radio 22 July 2007
Trinity sale: round one to DMGT

Trinity Mirror has sold 39 of the more than 130 regional newspapers on the block, and looks set to generate £550-£570 million from its disposals by the end of Q3 2007, just shy of its £600 million target

Media, Press 21 July 2007
Vodafone June 07 Q1 results

Vodafone’s European operations revenue growth dropped, but not as much as various regulatory interventions would have warranted, implying a strong operational performance

 

  • Vodafone
Mobile, Telecoms, Non-UK Telecoms 17 July 2007
Recorded Music: the bad news continues

US music shoppers continue to shun the CD, whilst increasing digital music sales are not filling the gap – we estimate the market’s volume was down 10.3% in H1 2007 year-over-year, in keeping with our forecast of an 8% decline in 2007

Media, Music and Radio 16 July 2007
Mobile revenue growth: March 2007 quarter and outlook

Mobile service revenue growth in the top five European markets was 3.6%, a decline of 0.5pps from the previous quarter, although this was substantially driven by the Bersani Decree in Italy outlawing mobile top-up charges from the beginning of March

Telecoms, Mobile, Non-UK Telecoms 11 July 2007
BSkyB trading update to 30 June 2007

Another record quarter of subscriber growth testifies again to the strengths of Sky’s marketing strategy and its successful entry into the telecommunications arena. The target of 10 million subscribers by the end of 2010 looks increasingly likely

TM is now looking at a sales target of £450 million instead of £600 million, though the revised target may still be too high, with the sale taking place at a time when regional newspaper fortunes are at a low ebb

Other results present a mixed picture: some improvements in costs, some progress online, but persisting doubts about TM’s ability to match its competitors over national newspaper sales and advertising revenues

  • Sky
Media, Telecoms 11 July 2007
Free’s TV Perso: another first for Iliad

True to its reputation for innovation, France’s No. 2 ISP Free has launched TV Perso, a user-generated video-on-demand service, to its 1.5 million TV-over-DSL subscribers. Users will contribute uploads, emulating YouTube’s popular web-based model, as well as live broadcasts

TV, Media, Internet, Non-UK Media 9 July 2007
Radio: Last.fm is not the problem

Audio webcasting services such as Last.fm, bought in May by CBS for $280 million, have built sizable audiences by offering greater choice and personalisation than traditional radio

Media, Music and Radio 8 July 2007
Apple iPhone: revolutionising the mobile business?

Apple has at least revolutionised two aspects of the mobile business: getting customers to queue overnight for a handset, and selling ‘contracts-in-a-box’, neither of which are likely to catch on in Europe

  • Apple
Mobile, Telecoms 7 July 2007
Channel 4: radio ambitions aim too high

Ofcom has awarded the UK’s second national commercial digital radio multiplex to Channel 4 Television, having rejected a competing bid from National Grid Wireless

  • Channel 4
Media, Music and Radio 4 July 2007
Sky pay DTT plans on ice

Ofcom’s decision to hold a consultation on Sky’s pay DTT proposal will prevent its launch before Q1 2008 at the earliest and could be delayed to 2010 if Ofcom’s current investigation of the UK pay TV market ends, as seems increasingly likely, with a referral decision to the Competition Commission

  • Sky
Media, Telecoms 28 June 2007
Emap - pick up the pieces

Emap, the consumer and business-to-business (B2B) publisher, appears ripe for a break-up. This report examines the health of the group's principal consumer magazine and radio assets, as well as its B2B assets. The latter, in our view, could prove particularly attractive to media-hungry private equity, based on recent valuations of business media assets. The consumer magazines segment is under pressure from circulation declines, and Emap’s digital strategy for its titles has yet to bear fruit. Meanwhile, Emap’s radio division has not been spared the market's overall decline

Media, Press 26 June 2007
Classified advertising in the UK

This presentation expands on our report on Classified Advertising in Print and Online [2006-58], by examining the online classified market segments of recruitment, property and automotive, and their likely development to 2011. We anticipate the value of the UK classifieds market could be worth about £5.5 billion in 2011, compared to about £4.5 billion in 2006. We however expect exponential growth in online classified ad volumes, placing pressure on prices of all classifieds. Although disruptive effects on the classified supply chain are anticipated (e.g. estate agents, car dealerships), we believe these will be harder to break than new entrants might believe

Media, Press, Internet 20 June 2007
Carphone Warehouse: distribution steady but fixed line telecoms not yet out of the woods

The distribution business had a strong year, marred by a longer than usual Christmas hangover in the last quarter, but the early signs for the new financial year are promising

  • Carphone Warehouse
Telecoms, Fixed Line 9 June 2007
European internet advertising trends

Broadband penetration and Internet usage in continental European countries are catching up with the US and UK, but consumer e-commerce and internet advertising spend still massively lag behind. Online advertising is growing more rapidly in Germany and France than in the UK, driven by rapid take-up of paid search by advertisers

 

Media, Internet, Non-UK Media 3 June 2007
UK broadband and telephony Q1 2007

50% of UK households now have a broadband line installed, but market growth is dropping. Rolling 12-month net additions were below three million for the first time since Q3 2004

Telecoms, Fixed Line 30 May 2007
Vodafone 2006/07 results and 2007/08 guidance: unambitious?

Vodafone achieved its 2006/07 full year targets on revenue and profitability, with solid revenue growth (underlying about 2% in Europe) but dropping margins (by around 2pps in Europe)

  • Vodafone
Telecoms, Mobile, Non-UK Telecoms 29 May 2007
Cable & Wireless full year results to March 2007: a start is a start

The performance of the international business remains solid

  • Cable & Wireless
Telecoms, Fixed Line 28 May 2007
EMI: underperforming in difficult times

Steep drops in US and UK recorded music sales dragged EMI’s group revenue 15.8% lower for FY 2006/07. EMI’s underperformance of the sagging recorded music industry highlights the scale of the challenge facing any prospective new owner

Media, Music and Radio 28 May 2007

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