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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Thomas Caldecott was quoted in an article regarding the Independent newpaper struggling to find new investors. He said "circulation in the last couple of years has been declining at a far quicker rate than any of the other quality titles. We think the reality is that it will struggle to continue publishing."
Douglas McCabe was quoted in an article about the Independent newspaper seeking new investors. He said "the big problem is that the enterprise doesn't have any scale. They've been slightly caught out. They haven't really invested in digital, particularly compared to the Guardian."
Ofcom has been instructed by the UK government to charge the mobile operators ‘full market value’ for the 2G spectrum they have been using for many years, despite there being no liquid market for the spectrum
Ofcom’s general approach to such an imponderable question is eminently sensible, but we disagree with the detail of their methodology on three key aspects, which makes the current proposed charges over three times too high in our view, effectively charging the industry a one-off tax of £4.5bn
The elevated fee levels are (perhaps) still affordable on their own, but coupled with other recent regulatory decisions the UK is in danger of being seen as a hostile regulatory environment, with negative consequences for future investment levels
The stress on 21st Century Fox’s Italian pay-TV platform is easing as the worst recession of any G8 country is expected to end in 2014, and competitive pressure from Mediaset is weakening
Sky is sticking to a long term strategy, investing in the (unrivalled) quality of its offering and sustaining high recruitment costs. The subscriber base seems to have levelled off, revenues are stable, but profits have collapsed. Management plans cost cuts to raise profitability by 2016
The upcoming auction for the 2015-18 football rights could see Sky gaining more exclusivity at a higher cost, which it would have to recoup mostly by rising prices. The key potential upside resides in an Italian economic upturn – which is only conceivable in a few years
Claire Enders was quoted in an article about Richard Desmond exploring sales options for Channel 5. Channel 5’s shows have benefited from fulsome coverage in his newspapers, the Daily Express and Daily Star, which have a combined circulation of more than 1m. She estimates that "the free promotion is worth about £20m a year."
Richard Desmond’s appointment of Barclays to explore the sale of the Channel 5 Group in 2013 has fuelled speculation over prospective purchasers should Northern & Shell be intent on selling this asset
The reported target of at least £700 million, seven times the £103.5 million paid by Northern & Shell to RTL three years ago, reflects a strong performance in 2013, but needs to be against several distinctive factors, including Channel 5’s near total reliance on advertising and the cross-promotional benefits it gains from the Northern & Shell print publications
Regulatory and strategic considerations suggest that neither ITV nor the pay-TV platform operators, Sky and BT, are likely to emerge as serious bidders and that an overseas group from the US is the most likely outcome if a sale is to take place
Benedict Evans was quoted in an article about Apple's App Store, which generated more than $10bn in sales last year. He said "for all that people argue about whether apps are the future, they're growing very fast - people like downloading them."
Toby Syfret was quoted in an article discussing the competition between Sky and BT. He said "there is every chance BT will end with a severe financial headache from BT Sport if it continues its bidding splurge."
Benedict Evans was quoted in an article about Christmas Day declining in importance as a catalyst for sales of Apple's iPad and iPhone. He said the decline in the "Christmas lift" for the iPad "may be partly the result of some of the cheaper Android devices getting some of the kids market."