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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
Netflix Q3 2026: Resetting the narrative
21 October 2026Despite strong revenue growth in Q3 (+12% YoY to $12.9 billion) and operating income that also beat guidance (+37% to $4.5 billion) more attention will be paid to Netflix's ruthless attempt via layoffs to reset a corporate narrative that has drifted towards a perception that the company has plateaued.
Four years along, Netflix's advertising business has yet to prove truly incremental, now contributing to overall price sensitivity, ARPU drag and net engagement loss. These consequences will only be intensified by the necessity to increase prices to continue revenue growth.
Despite denials, management is clearly floating the idea of the introduction of a free tier. With the aforementioned internal forces already in motion, this would be a difficult product to design.
Karen Egan was quoted in The Times on "Starlink poses growing threat to UK and EU telecom providers"
20 October 2026“I think they will go for a strategy of optimising their revenue, which is probably to keep premium pricing where they don’t have fibre competition, rather than bringing down pricing to maximise the take-up,” Karen Egan, head of telecoms at Enders Analysis said.
Enders Analysis was mentioned in the Financial Times on "Virgin Media O2 owners push CMA to reconsider £2bn broadband deal"
20 October 2026A Netomnia-Nexfibre combination would create an 8mn-home fibre network. BT’s Openreach serves nearly 25mn homes with fibre broadband, while its retail division has 30 per cent market share, according to estimates from Enders Analysis.
“The financial community has begun to recognise creators as proper businesses,” says Ben Woods, head of creator economy at Enders Analysis.
Enders Analysis was mentioned in The Times on "Broadband investors warn blocking takeover would undermine UK’s image"
19 October 2026The deal would mark the first move towards consolidation in the broadband industry, which has come under mounting pressure from higher interest rates on its rising debt levels, which stand at more than £9bn, according to Enders Analysis.
DAZN goes for growth: Global expansion postpones breakeven
13 October 2026Recent deals for Ligue 1, the FIFA Club World Cup and Foxtel signal DAZN is focused on global expansion, but this has postponed group breakeven.
Rights have been renewed at lower costs due to tepid competition and wider uncertainty in the broadcasting landscape, which support its improving margins.
Global scale may be a competitive advantage, but DAZN must still prove that global synergies improve local economics and generate a positive margin.
Recorded music distribution: Service innovation explosion
13 October 2026Enders Analysis today published a major report on the digital music sector, as part of its long term commitment to independent music industry analysis and research.
The music industry’s extraordinary recovery and digital transformation over the past 15 years has resulted in the establishment of a dynamic and competitive sector that provides a broad range of services to labels and artists in distributing recorded music.
This report explains that digital technologies have profoundly changed the music industry, and that the emergence of a large number of digital-first service providers (ALSPs) in a crowded and dynamic marketplace provides artists and labels with a myriad of choices. Those choices exist through a wide spectrum of offerings from many suppliers to meet the diverse needs of artists, labels and end-consumers. From “pipes only” products that provide an easy and direct path to access the large network of digital service providers (DSPs), through to broader service offerings, with matching breadth of service fees. Our analysis of the market shows high levels of competition, as well as innovation, making it easy and routine for artists and labels to switch providers to meet their needs.
Karen Egan was quoted in the Financial Times on "How BT’s TalkTalk swoop left broadband rivals fuming"
13 October 2026The cost of building out networks has left the lossmaking “altnets” saddled with over £9bn in net debt, according to calculations by Enders Analysis. Some providers, such as London’s G.Network, have fallen into administration, while lenders to others have been forced to write down the value of their debts.
“The crucial difference between these deals is that TalkTalk is a proven failed-firm situation, with it having been publicly for sale for at least the past four years but with no credible buyer,” said Karen Egan, head of telecoms at Enders Analysis.