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.
Unable to match Netflix, financially-pressed Hollywood studios are cutting content output and reassessing the DTC model
Price rises are being forced through, however for challengers this is asking a lot from subs, who don’t see an improvement in product or usage
The corporate landscape is fluid—loss-making DTC platforms and revenue-plunging linear channels are candidates for M&A
Vodafone has struck a deal to sell its ailing Spanish business in a deal worth €5bn, equivalent to 5.3x EBITDAaL.
While the pragmatism of the move will be applauded, the valuation may be viewed as disappointing by some.
The deal removes an enduring drag on the company’s financials, providing scope for better European trends, but this is one of several challenges facing the company, with the dividend policy question now to the fore.
Rather than be alarmed by the LFP scrapping its domestic rights auction or Serie A's latest deal being criticised by the Napoli owner, Francois Godard, a senior media analyst for Enders Analysis, believes alarm bells will not be ringing inside the Premier League.
“I think the outcome in Italy is encouraging,” Godard told The Athletic. “It could have been much worse as there is no active competition between Sky and DAZN. Nevertheless, DAZN is putting in a significant amount and Sky is paying €200m (£176.6m; $210.9m) for three non-exclusive games each weekend. If I were the Premier League, I would find this reassuring.”
“If you wanted to bid, then you had to accept the minimum price, which broadcasters thought was too high,” Godard explains. “Ligue 1 tried high prices, but I don’t think they are fundamentally unhappy to go to one-on-one negotiations.
Cloud revenues are reflecting patterns of AI integration. As big tech companies jostle for advantage, Microsoft and Azure claim an early lead
Cloud profits remain crucial for wider tech businesses, affecting ability to innovate
Strategies to develop and market cloud-based AI tools are diverging, with uncertainty rife. The ecosystem will shift as the demands of consumers and regulators becomes clearer
It has become an article of faith that mega-mergers reduce competition and harm consumers. “Four players good, three players bad,” almost has become a mantra for competition watchdogs. It would be a mistake if the Competition and Markets Authority were to blindly stick to this orthodoxy when it scrutinises a deal that has the potential to shake up Britain’s mobile telecoms sector.
Google and Meta both grew ad revenues at double digit percentages, with European results running well ahead of North America. The majority of UK publishers selling digital web advertising, by contrast, are seeing nothing like these results
Platforms are moving advertisers over to powerful, results-oriented campaign tools, which few competitors can match
The nature of the relationship between platforms and news publishers is changing, with Google and Meta wanting to avoid risk in their core businesses. AI could transform the relationship still further
DAZN and Sky have renewed their current coverage of Serie A until 2029, at a slightly lower price and with the security of a five-year contract. The ‘league channel’ DTC option was rejected by clubs.
With bids expected soon in France and the UK, DAZN seems determined to become the dominant football broadcaster in Europe.
The Italian auction outcome confirms the real-term erosion of the value of football rights across Europe, but also a more mature approach from the league.
