Publications

Format: Jun 2016
Sector(s) Datesort ascending
BT Next Generation Access: a one billion pound toe in the water

BT’s announcement of a project to extend fibre beyond the exchange for some existing homes as well as newly built ones is good PR, a useful regulatory gambit, and offers the prospect of regaining some initiative from unbundlers and Virgin Media at the wholesale and retail levels respectively

  • Virgin Media
  • BT
Telecoms, Fixed Line 14 July 2008
Tiscali UK - where now?

The current process for a sale of Tiscali Spa in whole or part appears to be breaking down, just as the prospects for standalone ISPs in the UK are becoming less certain

Telecoms, Fixed Line 12 July 2008
UK broadband market Q1 2008

The decline in broadband market growth has accelerated, with market net additions in Q1 down on Q4 for the first time in three years. Household penetration reached 59%

Telecoms, Fixed Line 7 July 2008
Cable & Wireless/Thus: a deal worth doing

In our view the potential for synergies from an acquisition of Thus by C&W, though more limited than might be supposed, would still have a significant impact on the combined entity at the EBITDA level

  • Cable & Wireless
Mobile, Telecoms 30 June 2008
Competition concerns for the TNS-GfK merger

We expect the TNS-GfK merger proposal to be examined closely by the European Commission, and anticipate competition concerns to be raised in the market for television audience measurement (TAM)

Media 28 June 2008
France Télécom premium TV play

Having acquired national broadcast TV rights for premium content, France Télécom’s Orange TV will launch on satellite on 3rd July and introduce subscription football and film and series services from August, in a first for a major European telecoms incumbent

  • Orange
  • France Telecom
TV, Media, Non-UK Media, Telecoms 28 June 2008
DAB radio - nice platform, shame about the take-up

Consumer take-up both of DAB receiver hardware and of listening to digital-only radio stations has been slow, in spite of considerable investment in content and in transmission infrastructure for the platform by the BBC and commercial radio since 1995

  • BBC
Media, Music and Radio 22 June 2008
UK DTV forecasts to 2017 June 2008 update

Digital TV growth has consistently exceeded expectations since the launch of Freeview in October 2002, while 2007 saw a record annual increase in digital TV homes reception from 72.0% to 82.3%. These forecasts update our previous forecasts of DTV platform growth issued in December 2007 (see UK DTV Homes Platform Forecasts: 2003-2017 [2007-116]), taking into account the very strong final quarter of 2007 and recent market developments

Media, TV 21 June 2008
French anti-piracy law clears another hurdle

France’s Council of State gave the green light to the draft law on ‘Creation and the Internet’, to combat internet piracy of content. If it completes the final hurdle of adoption by the Parliament, most likely in the autumn, France could become the first country to adopt a three-strikes rule to disconnect file-sharers

Internet, Media, Non-UK Media 18 June 2008
Mobile revenue growth: March 2008 quarter and outlook

European revenue growth improved by a whole percentage point this quarter, jumping to 2.2% from 1.2% last quarter. Most of this (0.7 percentage points) was due to a reduced regulatory impact, and this should continue to improve throughout this year, with the impact due to drop from about 4% to less than 1% by early next year

Telecoms, Mobile, Non-UK Telecoms 17 June 2008
UK Commercial Radio Q1 2008

UK commercial radio revenues increased by 6.7% in Q1 2008 year-on-year, resulting in four consecutive quarters of growth for the first time since 2004

Media, Music and Radio 16 June 2008
UK advertising: internet to overtake TV this year

We expect UK online advertising to reach £3.56 billion this year overtaking TV ad spend which we estimate will be £3.39 billion, making the internet the UK’s largest single advertising medium, accounting for over 19% of total expenditure

Internet, TV, Media 15 June 2008
Iliad buys Alice

Iliad is to recover the No. 2 spot on the French broadband market, behind France Télécom’s Orange, after acquiring Alice, ending Telecom Italia’s ill fated five-year French venture

  • Iliad
Telecoms, Fixed Line, Non-UK Telecoms 11 June 2008
Apple iPhone 3G: faster... cheaper... slimmer margins

The much anticipated iPhone 3G is due to launch in July; it will include 3G and GPS, but will otherwise be quite similar to the old model, and is still a little off-the-pace in feature terms

  • Apple
Telecoms, Mobile 10 June 2008
Virgin Radio – new owner, new name, new beginning

After a protracted offer period, Scottish Media Group has finally sold its national commercial radio business ‘Virgin Radio’ to Bennett, Coleman & Company Limited for £53.2 million cash. The sale does not include the licence to continue using the brand name from the Virgin Group, so the station will be re-branded and re-launched by its new owner in autumn 2008. This report argues that, although the value of Virgin Radio’s main AM analogue platform is diminishing, the value of the accompanying FM licence in London could be significantly increased by the execution of a successful turnaround strategy. The London licence alone could reflect the price paid for the whole business, if the station’s rock music programming were to be made more relevant to consumers and advertisers in the capital

  • SMG
Media, Music and Radio 8 June 2008
Orange threat to Canal+ targets

Canal+ is entering a critical phase of growth following the recent merger with its former rival Télévision Par Satellite (TPS). Vivendi has set short term guidance targets for 2010 of 11.5 million subscriptions, turnover above €5 billion and more than doubling of EBITA from €490 million to over €1 billion. This presentation examines these targets and concludes that Canal+ will fall short of all them. In the best case baseline scenario of least competition from other pay-TV and free-to-air (FTA) services, it projects EBITA in 2010 of just €890 million

  • Orange
  • Canal Plus
Media, TV, Non-UK Media 8 June 2008
UK mobile user survey

The attached report contains the 2008 edition of our regular review of UK mobile user trends, based on a survey of 1,000 adults. We look at handset ownership, replacement trends, handset manufacturer choice, network operator choice, 3G handset ownership, usage of existing services such as photo-messaging and the mobile internet and, finally, interest in new services such as mobile TV and datacards

Telecoms, Mobile 7 June 2008
ITV outperformance in a weakening advertising market

The worsening economic outlook has caused us to lower our forecasts of TV net advertising revenue (NAR) growth in 2008 to -2.5%, although there is still little visibility beyond H1, which is expected to register -1% growth

  • ITV
Media, TV 4 June 2008
Privatising Radios One and Two: how to kill commercial radio with kindness

The privatisation of the BBC’s two national music radio networks – Radio One and Radio Two – is in the news again and is being proposed by certain commentators as a potential solution to the current problems facing the UK commercial radio industry. This report argues that, far from being a solution, unleashing these two highly successful BBC stations on the commercial sector will imperil the existence of many stations. This would dramatically increase the volume of advertising time available, at a time of glut, and draw advertising spend away from many stations

  • BBC
Media, Music and Radio 2 June 2008
Triple play in France

This presentation reports on the triple play of broadband, full telephony and DSL-delivered IPTV in France, the leading market in Europe for the triple play. Of France’s 16.2 million broadband subscribers, one third have migrated entirely to the VoIP services supplied by their broadband provider, dropping their line rental from France Télécom. We estimate that about 3.5 million households have activated the set-top box to receive DSL-delivered IPTV on their main set, also receiving digital terrestrial TV

  • France Telecom
Telecoms, Fixed Line, Non-UK Telecoms 31 May 2008

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