Vodafone KPIs - strategic issues

Comcast/Sky is in preliminary discussions to acquire ITV’s broadcast and streaming operations. With a larger audience footprint, better tech and a broader range of British content, the rationale is that the merged entity would be better placed to compete with global streaming giants.

The belief will be that the downward momentum of both parties will be slowed, and the offering is more likely to be a primary viewing choice. There is a danger that ITV may lose some of its unique identity.

The deal will need to clear regulatory hurdles including concerns on media plurality. The harder test will be convincing the CMA that the relevant advertising market is wider than just broadcasters.

BT’s financial performance in Q2 was much the same as the previous quarter, despite growing pressure on consumer and wholesale broadband from altnets and competitive responses to them.
 

We see this pressure easing in time, due to roll-out slowdowns and the inevitable consolidation of the altnet industry into a wholesale model, but there may be some tricky quarters ahead.
 

Current full year guidance looks nonetheless very achievable and sustained growth thereafter looks likely, with earlier rather than later consolidation good for BT as well as the altnets themselves.

Bids for the Champions League media rights from 2027 are expected by 18 November across all top five European markets.

In an attempt at injecting competitive tension, a new ‘global’ Tuesday first pick fixture is on offer. Amazon looks like the favourite bidder.

Incumbent rights licensees prioritise cost savings over coverage expansion.