Format: Jul 2015
Sector(s) Datesort ascending
C4 and Digital Diversification

Channel 4's digital diversification strategy is a topic we first considered in 2002. At that time, we urged Channel 4 to husband its resources to meet its public service remit and maintain audiences on its terrestrial service, rather than diversify into new digital satellite channels. If anything, the progress of time has reinforced our conclusion that Channel 4's digital diversification strategy is risky. The risks for Channel 4 are greater than for the BBC, since Channel 4's public service remit is funded by advertising alone

  • Channel 4
Media, TV 13 August 2007
Disposal headaches at Trinity

Trinity Mirror’s 2007 interim results announcement produced the shock news of an expected £150 million shortfall in its disposals of two regional newspaper divisions and its sports addition

Media, Press 8 August 2007
Virgin Media Q2 2007 results: cash flow down; outlook for top line growth remains dubious

The loss of Sky basic channels, strong competition and a maturing broadband market have combined to weaken Virgin Media’s top line results sufficiently to cause cash flow to decline

  • Virgin Media
  • Sky
Fixed Line, Telecoms 7 August 2007
Virgin Mobile price increases

Virgin Media has recently upped its mobile prices both within the ‘quad-play’ and on the Virgin Mobile standard prepay product

  • Virgin Media
Telecoms, Mobile 1 August 2007
Sogecable's diverging free and pay-TV results

Rising audiences for Cuatro in a booming TV advertising market have unexpectedly lifted Sogecable earnings in H1 2007, encouraging confidence that Cuatro will achieve breakeven in 2008, if not in 2007

  • Sogecable
Media, TV, Non-UK Media 31 July 2007
BT FY 2007/08 Q1 results: more clarity required on 21CN

Growth in revenue and EBITDA was adequate but a nasty surge in capex hit cash flow

  • BT
Telecoms, Fixed Line 31 July 2007
Fastweb-Swisscom: Towards a Strategic Review

Swisscom's recent acquisition of 82% of Fastweb, among the largest altnets in Europe, provides the context for a much-needed strategic review. Fastweb is the principal competitor to Telecom Italia in the supply of telecoms services to business and residential customers, delivered mainly over its own network, which developed through local loop unbundling. Fastweb's has a sterling reputation with customers (in relation to TI's generally poor one). In this context, further network expansion should top Swisscom's review agenda, as well as Fastweb's IPTV offer, which has not proved to be a commercial success

Fixed Line, Telecoms, Non-UK Telecoms 30 July 2007
Apple Q3 2006-07 results

Apple reported strong revenue growth for Q3 2006/07, up 23.8% year on year to $5.41 billion, powered mainly by strong computer sales




  • Apple
Media 30 July 2007
Carphone Warehouse: fixed line momentum regained, but distribution has a shakier start

The distribution business was slightly weak despite good like-for-like store sales, due to the lower quality ‘off-the-page’ newspaper advertisement business being successfully cut back by the mobile operators

  • Carphone Warehouse
Telecoms, Fixed Line 29 July 2007
Sky FY 2007 results

The release of FY 2007 results on 27th July 2007 confirmed the strong performance of Sky and the success of its multi-product and service strategy over the past year, as reported in its trading update of 11th July

  • Sky
Telecoms, Media 29 July 2007
BBC iPlayer: forever niche?

On 27th July the BBC will open access to the iPlayer to UK internet users, en route to a hard launch later this summer. This PC-based application allows the user to download BBC TV content after broadcast to view on the PC for a limited time, and provides a TV-like display on the PC. Delays to the launch will mean the iPlayer enters a field already crowded by other broadcasters, including Channel 4's 4oD service, ITV's broadband portal, Sky Anytime, as well as content aggregators such as Joost and Babelgum (both currently in beta)

  • Channel 4
  • BBC
  • ITV
  • Sky
Media, TV, Internet 24 July 2007
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: is not the problem

Audio webcasting services such as, 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