Homepage
Enders Analysis provides a subscription research service covering the media, entertainment, mobile and fixed telecommunications industries in Europe, with a special focus on new technologies and media.
Our research is independent and evidence-based, covering all sides of the market: consumers, leading companies, industry trends, forecasts and public policy & regulation. A complete list of our research can be found here
Enders TMT Leaders Live conference 2026
Join our conversation on the outlook for the media, telecoms and tech industries
4th June 2026 | Convene, 133 Houndsditch
Netflix Q2 2026: Tackling the engagement narrative
17 July 2026In Q2, Netflix grew revenue 13% YoY (£12.6 billion), while narrowing its whole-year forecast between $51.0 and $51.4 billion. This was accompanied by an 11% lift in operating income ($4.2 billion). Advertising revenue continues to be on track to double this year to $3 billion.
Recent attention around Netflix’s engagement challenges helps to highlight that the streamer faces the same headwinds faced by all providers of long-form video, amplified by a net viewing loss from the push towards advertising.
As a counter to this, Netflix has a number of initiatives now to diversify its offering and increase engagement: some seem likely to stick and augment while others seem peripheral and value-skewing.
In the UK, for example, the BBC partnered with the YouTube collective Sidemen to simultaneously broadcast the Ecuador vs. Germany match on their YouTube channels. This initiative illustrates the importance that traditional broadcasters place on their digital partners.
But "at this stage, it looks more like a test than a real structural change," says Ben Woods, a specialist in "creator economy" issues at Enders Analysis, the UK's leading media and telecom research and consulting firm.
According to him, these alliances complement existing agreements rather than replacing them. "It's simply an extension to allow rights holders to reach a younger audience."
Claire Holubowskyj was quoted in Digiday on "Reddit questions if AI data deals could hurt its ad business"
15 July 2026Claire Holubowskyj, senior research analyst at Enders Analysis made the point that Reddit’s business is less vulnerable to AI disintermediation than platforms built around identity-based targeting.
“Reddit’s use of interest-based rather than identity-based targeting flattens the differences in value between frequent and non-frequent users compared to other platforms,” she said. “While the ad impressions that ChatGPT disintermediates will be more valuable for Reddit than for identity-based advertisers, Reddit’s interest-based product is well-placed to capitalize on any high-intent non-logged-in traffic funnelled through by ChatGPT.”
Enders Analysis was mentioned in The Times on Openreach boss: ‘We’ve done the build, now it’s customer experience’
14 July 2026The challenger networks had accumulated an aggregated £9.3 billion debt, according to estimates by Enders Analysis, hit by higher financing costs.
Karen Egan was quoted in the Financial Times on "The UK’s telecoms industry is now a billionaire’s playground"
14 July 2026“I’m sure that Vodafone will see some opportunities here,” said Karen Egan, head of telecoms at Enders Analysis. “But there will be nervousness too.”
AI was the story of Cannes, both growing the market with new formats and cannibalising it. Not all AI increases to production are monetisable, creating disruption though the fundamentals of building engagement and resonance are unchanged.
Major platforms are still the main winners as supply ownership becomes key for differentiation. Agencies, adtechs, and commerce media are converging in function but diverging in approach as AI blurs the value chain.
Creative is at the centre of tensions between AI-led mass-market automation and human-centred bespoke connection. Platforms are defending SME audiences with end-to-end integration as agentic AI poses both opportunity and threat.
Service revenues improved sequentially but remained negative at -0.7%, with all major markets flat to improving.
Backbook price increases have become quite prolific, but there is a mixed picture on new-customer pricing and considerable ARPU pressure in most markets.
Regulatory push for better coverage in return for longer licences continues to gain momentum, with Portugal the latest to move in this direction.
Airband is one of dozens of so-called altnet providers set up to challenge industry incumbents BT Openreach and Virgin Media O2. However, the high cost of building out their networks has left altnets saddled with net debts of about £9bn, according to figures from Enders Analysis.
The altnets collectively posted losses in 2024 that Enders put at more than £1.5bn, as consumer uptake fell short of expectations.