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Sticking could well be worthwhile. After all, James Barford, of Enders Analysis, says Drahi seems to have every intention of doing so, having learnt patience from his experience of full-fibre roll-outs in France and the US.
Barford comments: 'BT is on a journey, but it is a journey that has been well mapped out.'
Enders is clear: there is nothing the CBI can do to convince her research firm to reinstate the membership that she cancelled in the wake of the allegations.
“I don’t want to wait for any changes. I just fundamentally believe that there is nothing to be gained.”
Furthermore, she said she felt “completely let down” by the lobbying efforts of the CBI, which Enders Analysis joined before the EU referendum in the hope of amplifying the voice of business and influencing trade issues. “They simply did not have influence on government policy. Do they now?”
The government has suspended all official contact with the CBI pending the outcome of the confidence vote.
Alice Enders, a music industry analyst at the London-based Enders Analysis, said that under the watch of Masuch, BMG had “constantly grown” as the former economics student had prioritised sound financial management and taken advantage of the benefits of being owned by the cash-rich Bertelsmann.
“A lot of it is not organic growth — it’s through investment,” she said. But she added that Bertelsmann had “put a lot of money” behind Masuch because of BMG’s “very attractive” earnings before interest, taxes, depreciation and amortisation margin of more than 22 per cent last year."
As younger viewers continue to migrate from linear TV to online video-sharing platforms, engaging with the audiences on these platforms is no longer simply an opportunity, but a necessity.
However, this ecosystem offers broadcasters limited monetisation opportunities, reduced audience data and worse attribution than the more lucrative broadcast TV model.
In this fragmented media landscape, broadcasters must maximise their digital reach and exploit incremental revenue opportunities, although linear channels and owned-and-operated platforms will continue to provide the bulk of revenues.
But GB News lost more than £30mn in the year to May 2022, on a turnover of £3.6mn, according to accounts filed in March. Claire Enders, a media analyst, said news broadcasting was rarely profitable without global reach, an uphill task for GB News.
The Italian football league is auctioning its media rights for up to five seasons from 2024/25, with bids due by 14 June.
As in previous cycles, Sky and DAZN will probably bid below the minimum prices, which could trigger further auctions.
Plans for a league DTC service are unrealistic, and free-to-air broadcasts would be uneconomical.
BT hit all its targets for the 2022/23 financial year, ending the year with a (predicted) consumer service revenue growth slowdown but a surprisingly strong B2B performance fully compensating.
Investors were disappointed in the outlook for cashflow in 2023/24, with tax benefits being absorbed by the cost of faster-than-expected full fibre adoption, ignoring that this is good news rather than bad.
Next quarter the company will get a substantial boost from the price rises, and in the longer term an even more substantial boost from the completion of the full fibre build is looking increasingly secure.
Succession has also redefined the notion of TV success. “Its cultural impact is much bigger than its audience,” Tom Standen-Jewell of media consultants Enders Analysis told i.
“You wouldn’t know that Coronation Street has four times the audience of Succession from the critical buzz. But it’s a big marketing tool for HBO and Sky to keep subscribers.”
“Everyone praises the dialogue, which is superbly crafted with a nihilism and nastiness. That craft was honed writing comedies like Peep Show and The Thick of It for Channel 4 and the BBC,” Standen-Jewell said.
“Those themes of cynicism about those in power are now widely shared in the US and UK.”
