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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
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.
YouTube’s TV journey: Becoming a go-to destination
13 October 2026Although YouTube’s total viewing in the home is flat year on year, it continues to strengthen on the TV set: this is driven more by older users than a transfer of viewing from devices.
YouTube has become a clear destination service on the TV for younger audiences—who are more likely to go directly to the app and stay for longer—while older viewers tend to channel-surf before switching to YouTube.
TV growth appears to be stoking the communality of the service: YouTube’s co-viewing minutes overtake solo during prime time, mirroring traditional viewing behaviour associated with broadcasters and SVODs.
Enders Analysis was mentioned in The Observer on "BT’s £400m TalkTalk takeover: safety net or stitch up?"
12 October 2026Enders Analysis has identified Virgin Media O2 and CityFibre as leading consolidators, as several heavily indebted fibre networks struggle to win sufficient business to justify high investment levels.
Tom Harrington was quoted in The Times on "Can Netflix recreate its Squid Game high?"
12 October 2026“The overarching problem is the amount of long-form content people watch is going down,” Tom Harrington, head of television at Enders Analysis, said. “If the whole thing is shrinking … then that’s a challenge for every broadcaster and streamer.”
Enders Analysis was mentioned in The Telegraph on "Hollywood’s new mogul races to escape an $80bn debt trap"
12 October 2026Skydance has a net debt of roughly $80bn, or around seven times its profits. That is almost three times higher than the 2.5x level normally associated with the industry, according to Enders Analysis.
Karen Egan was quoted in The Telegraph on "Banks brace for £2bn loss from CityFibre restructure"
12 October 2026Karen Egan, at telecoms research group Enders Analysis, said: “Equity shareholders will be asking for some pain on the debt side of the equation in return for the £900m of equity injection, even if that pain isn’t in the form of an official write-down of the debt stack.”