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.
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“LinkedIn has put a lot of effort into encouraging more frequent and interesting posting in a more social environment in the last five years, and if enough inventory was available then this kind of automated tool could help to attract advertisers who are unfamiliar with the platform,” said Jamie MacEwan, senior analyst at Enders Analysis.
“It’s been a mess for years,” said Alice Enders, director of research at Enders Analysis, a media and entertainment consultancy, noting that for all the problems, the Telegraph remains a profitable business. “But without an owner, the management cannot implement a strategy. For the staff, whose salaries and promotions are frozen, it’s an ongoing challenge.”
“The only reason he is the preferred bidder is because he offered so much more money than anyone else,” said Enders, noting that the reserve price was £500 million.
Service revenue growth dropped further to -1.7% this quarter as pricing remains under pressure and in-contract price increases no longer benefit
Competition is heating up in Germany and France, and Digi is taking an aggressive stance as it enters the Portuguese and Belgian markets
While there is increasing awareness that investment levels in Europe are compromised by the current market structure, support for in-market consolidation remains lukewarm at best at the EU level
From the depths of 2023, advertising expenditure on legacy media rose moderately in 2024, on the back of an uptick in real private consumer expenditure thanks to lower inflation and reduced costs of credit—the outlook for legacy media is about the same for 2025.
Online stands apart from legacy media due to the growth of ecommerce—driven by both goods (over 26% of retail sales) and services such as travel, as well as intense competition among platforms (Amazon, Shein, Temu)—with double-digit growth in 2024 set to continue in 2025.
Television remains the most effective medium for brand advertisers—despite the decline in viewing—with broadcasters’ digital innovation and SVOD ad tiers providing greater targeting alongside the mass broadcast reach.
Enders Analysis analyst François Godard told Reuters that bumpy trading in Canal+ was expected until the company's narrative was fully grasped by investors.
"It (Canal+) is both incumbent and digital, profitable but not the way streamers are profitable, it is growing but not next year, it is expanding in Africa, which investors don't really understand," he said.
In a research note last week, Enders Analysis said that Britain was relatively well served by existing mobile networks, while the large number of national boundaries in Europe means that stopping satellite signals at the border is a regulatory nightmare.
For these reasons, Hamish Low, of Enders, says he does not expect a full satellite-to-device service to be available in the UK until 2026 at the earliest. And even assuming those kinks are worked out, it may not be the easy win that mobile networks are hoping for.
However, Low says that companies such as Starlink or Apple, through its Globalstar investment, could use the business to chip away at the incumbent mobile businesses. Apple has spent years developing custom modem chips for its phones – currently one of the few parts of the supply chain it does not control – which would boost reception from satellites.
ITV launched its streaming service, ITVX, in late 2022. It accounts for about 14 per cent of viewing, according to analysts at Enders. However, in its last set of annual accounts, ITV said that the decline of traditional broadcast viewing was only just being offset by the rise in digital for the majority of the year.
The UK’s Competition and Markets Authority approved Vodafone’s merger with Three UK without imposing the feared “structural” remedies — aka major asset sales. That’s good news for Vodafone itself. It expects to cut £700mn between costs and investments, which will allow the combined group’s return on capital to rise from the ashes to something approaching its cost, thinks Karen Egan at Enders Analysis.
Claire Enders, media analyst at Enders Analysis, said there have been repeated attempts to buy James’ stake in the trust over the past six years, but no deal had ever been acceptable to both sides. But Rupert is “not a man who gives up”, she added.
Enders expected Elisabeth would lead efforts to reach a détente between the two sides: “She is believed to have taken the lead in previous disputes and crises requiring conciliation efforts between her father and his children.”