Format: Aug 2016
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Sector(s) Datesort ascending
Vodafone 2008/09 H1 results: underperforming competitors

Vodafone’s European organic service revenue growth dropped again in the September quarter, to -1.3%, and we estimate that it continues to underperform its competitors’ growth by two percentage points, thus losing market share. Margins also fell, as the company’s cost reduction measures continue to fail to stop costs rising

  • Vodafone
Telecoms, Mobile, Non-UK Telecoms 13 November 2008
Cable & Wireless half year results to September 2008: free at last

The UK business (EAUS) is continuing to improve ahead of guidance as expected and its turnround can now be judged a success. Management has announced an aggressive plan to extract synergy from the recently acquired Thus

  • Cable & Wireless
Telecoms, Mobile, Fixed Line 12 November 2008
Virgin Media Q3 2008 results: significant improvement, but economic environment continuing to present challenges

Virgin Media’s Q3 results represent a significant step in the recovery of the business, with ARPU and consumer cable revenue stable for the first time in 18 months. Group OCF growth was hit by one-off opex reductions in the prior quarter but continues to grow on an underlying basis

  • Virgin Media
TV, Media, Telecoms, Fixed Line 7 November 2008
Sky Q1 2009 results: riding the economic downturn

Another robust set of subscriber KPIs provides little indication of the economic downturn taking its toll, other than a sharp 1.1% jump in churn over the previous quarter, which could reflect other factors. The bigger issue appears to be subscriber spin-down to less expensive packages




  • Sky
TV, Media 4 November 2008
UK Residential Broadband Market: maturity rapidly approaching

This report examines recent developments in the UK residential market for broadband internet access. We consider the outlook over the next five years for total market volume and market shares

Telecoms, Fixed Line 3 November 2008
BT pre-quarterly results trading update: cost control issues at Global Services

On 31st October BT announced that Q2 EBITDA and EPS will be slightly below expectations as a result of a sharp deterioration in performance at Global Services (GS) and that GS CEO Francois Barrault has been replaced by erstwhile Group Finance Director Hanif Lalani

  • BT
Fixed Line, Telecoms 31 October 2008
Nokia Comes With Music: one hit wonder?

The Nokia Comes With Music (CWM) service bundles a music-centric handset with an unlimited music downloads service, allowing consumers to easily take advantage of their handsets’ music functionality, and have no need for a separate iPod




  • Nokia
Mobile, Telecoms, Music and Radio, Media 28 October 2008
The Digital One radio multiplex: desperately seeking subsidy

Following Channel 4’s decision not to proceed with its plans for digital radio, there is a glut of unused capacity on the existing national digital commercial radio multiplex (owned by Digital One) which threatens its commercial viability

  • Channel 4
Media, Music and Radio 20 October 2008
Google and copyright news

Google has lost another copyright proceeding in a major European market, this time in Germany (it will appeal), on top of the 2007 judgement in Belgium that found against Google in favour of Copiepresse, on behalf of a group of newspapers. In the US, Google is also facing litigation over copyright, plus the suits filed against YouTube

  • Google
Telecoms 20 October 2008
Carphone Warehouse Q2 trading update: walking briskly against the wind

Distribution connection numbers were strong (+9%), especially on contract (+21%), despite a reduction in store expansion and the consumer slowdown which is affecting other consumer electronics businesses

  • Carphone Warehouse
Telecoms, Mobile 19 October 2008
US mechanical rates outcome – the status quo prevails

The Copyright Royalty Board ruling issued on 2nd October gives the US music industry certainty on the statutory mechanical royalty rates payable to music publishers for 2008-2012

Media, Music and Radio, Non-UK Media 11 October 2008
Channel 4 radio: six feet under

Channel 4 has announced the immediate withdrawal of its majority stake in 4 Digital Group, a new venture that was awarded the licence by Ofcom in 2007 to build the UK’s second national commercial radio DAB multiplex, and Channel 4 will not be launching its promised portfolio of broadcast radio channels

The obvious culprit is the weak economy, with mobile telecoms seeming to be more vulnerable to consumer cutbacks than previously thought, a hypothesis supported by recent consumer research

With European economic growth forecast to decline further, revenue growth is likely to drop below zero by the beginning of 2009, and then progressively worsen through 2009 as regulatory effects worsen, creating a very tough environment for mobile operators to preserve margins


  • Channel 4
Media, Music and Radio 11 October 2008

Call it the Personal Video Recorder (PVR), the Digital Video Recorder (DVR), the Digital Television Recorder (DTR), or just Armageddon brought to Madison Avenue, this machine excited curiosity and angst from the very beginning due to its destructive potential for ad avoidance. That was at the end of the last millennium, since when the TV advertising industry has learned to take a more relaxed view. Early take-up was much slower than the forecasts had suggested, and once it became possible to measure PVR use electronically, there appeared to be more live viewing and less fast-forwarding through commercials than early market research interviews of PVR owners had suggested. But, it is also clear that the PVR is changing viewing habits over time and take-up in the UK is at last starting to rocket. This report examines current market trends and the impact of the PVR on viewing habits. It also updates our forecasts from April 2006




Media, TV 8 October 2008
UK Classified Advertising

UK classified advertising, which generated £4.8 billion in 2007 (26% of total UK advertising spend), could decline to £4.2 billion in 2008 and to £3.7 billion in 2009. In our view, advertisers are accelerating their shift online as a result of the economic downturn, while the property market’s steep decline depresses associated classifieds. Online has already overtaken national newspapers and magazines as classified advertising media, and looks set to rise above directories in 2008. In the near future, online will be the leading classified advertising medium, ahead of regional newspapers. The enclosed presentation updates for 2008 the information contained in Classified Advertising in the UK [2007-55]




Media, Press, Internet 7 October 2008
The second national digital radio multiplex

The second national digital radio multiplex, awarded by Ofcom in July 2007 to 4 Digital Group, has not yet been built, despite having promised a launch within twelve months

Media, Music and Radio 30 September 2008
Ofcom Second Consultation on pay-TV and the root wholesale issue

Ofcom’s second consultation document in its pay-TV investigation has focused on BSkyB’s wholesaling of designated premium film and sports channels, reviving memories of previous regulatory efforts to address the content wholesale/retail issue



  • Sky
Media, TV 30 September 2008
NGA in the UK and Ofcom's Second Consultation: edging forward

Ofcom’s second consultation document on Next Generation Access raised few new issues. Ofcom continues to favour passive access and emphasises the importance of joint investment in it

Telecoms, Fixed Line 29 September 2008
The Googlephone: nice software, shame about the hardware

The long awaited first Android-driven handset was launched this week, and with the Google logo emblazoned on the back it has been swiftly christened the Googlephone


  • Google
Telecoms, Mobile 24 September 2008
Mobile revenue growth to June 2008 and outlook: economic and regulatory worries

European revenue growth fell to 1.4% in the quarter, down 0.8ppts from 2.2% last quarter, driven primarily by Spain where growth fell 4.1ppts. The deterioration was despite an improvement in the regulatory conditions, and underlying growth fell by 1.0ppts, with Italy slowing rapidly

Telecoms, Mobile, Non-UK Telecoms 22 September 2008
ITV plc: economic downturn, NAR and cost reduction

We have downgraded our short-term forecasts of TV NAR (net advertising revenue) growth from -5% to -5.75% for 2008 and from -3% to -6% for 2009 in light of the worsening economic conditions and early indications of Q4 advertising spend

  • ITV
Media, TV 21 September 2008