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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.

 

Rigorous Fearless Independent

Tom Harrington was quoted in The Telegraph on "Amazon shakes and stirs the streaming wars with MGM deal"

19 May 2021

Tom said "When that deal comes up it could certainly go behind a paywall - Amazon or elsewhere - as it did with Sky for a bit. Major difference with having it on a big streaming service, however, is that it would cannibalise renting or buying the film online."

He added "At the moment ITV's rights are very limited when it comes to catch-up or live streaming of James Bond, so renting or buying is protected. Amazon might see their value to Prime trumps the foregone revenues there though."

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Sanchit Jain was quoted in This is Money on "Amazon plots £6bn bid for MGM: Now Jeff Bezos sets sights on Bond studio as industry faces shake-up"

19 May 2021

Sanchit said 'As people spend more time consuming online content, having something that is fresh or adds value is more important than ever for streaming platforms."

Amazon understands the quality and depth of content is a really important differentiator. "With a name like MGM, it would add a very well-established library that customers can't get elsewhere."

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BT: The J-curve cometh

18 May 2021

BT ended a very challenging 2020/21 financial year with its worst quarter yet for EBITDA growth, as the third national lockdown impacted mobile, offices, pubs/clubs and installation revenue streams

There are many turnaround drivers ahead though, including price rises, backbook effects annualising, lockdown effect reversals, and full fibre benefits, but returning to revenue growth by the end of the year still looks challenging

The acceleration and expansion of fibre build is very positive in our view, but BT has given no guidance on the future benefits aside from capex returning to normal levels, which is doing it no favours with investors

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Francois Godard was quoted in Les Echos on "TF1-M6: an attempt to reinvent free television that makes people cringe"

18 May 2021

Francois said “There are now two parallel attempts in Europe to reinvent free television: that of Mediaset of international concentration with the merger of its assets in Italy, Spain and Germany, and this merger project between TF1 and M6 that is to say -to say the creation of a powerful national actor that Bertelsmann is testing in France but would like to achieve in Germany. Because he strongly believes in this strategic approach."

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Francois Godard was quoted in Variety on "Shock AT&T-Discovery Deal Raises Questions for Global Streaming Expansion"

18 May 2021

Francois said “Will they become more willing to launch HBO Max in Sky countries [U.K., Italy, Germany]? So far, they have said they’ll do it eventually, but it’s unclear because they make money with Sky and it would cost them a lot to establish HBO Max.”

He added that the launch of HBO Max in territories where WarnerMedia and Sky have deals “could become more likely."

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Jobs marketplace and recruitment advertising: Challenges loom large

18 May 2021

As private sector employers faced an unprecedented degree of uncertainty, the volume of vacancies fell 60% from 2019 to 2020, driven by the arts & entertainment, food & hospitality and retail sectors, leading expenditure on recruitment advertising to fall by 32%.

In 2021, vacancies for temporary placements are surging as society proceeds to unlock, with the near-term labour market tight, boosting expenditure on recruitment. Our concern is the masked unemployment in B2C sectors that will emerge should furlough end on 30 September. 

Judging by global revenue trends in FY2020, professionally-oriented networking platform LinkedIn gained from demand for hiring served by paid-for listings, also filling demand for events. Indeed, which serves the high-volume but lower-value end of labour markets, with a less fruitful budget and cost-per-click model, suffered mild revenue decline.

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Publishing in the pandemic: print squeeze, digital boost

17 May 2021

The press industry lost £1 billion off the topline from the calamitous decline in print revenues due to pandemic-related mobility restrictions, partly offset by gains on digital subscriptions, much harder to precisely size in revenue terms.



Trapped at home for the most part, online traffic to BBC News and news publisher services boomed. Popular news sites marginally grew digital advertising while the quality nationals attracted 800,000 new paying subscribers to reach nearly three million in 2020.



The outlook for 2021, in the transition to the ‘new normal’, is mixed. Consumer work patterns and news, information and entertainment habits are unlikely to ‘bounce back’ to pre-pandemic levels, placing free commuter titles at particular risk. Signs of confidence through online innovation are welcome.

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