In this presentation we show our analysis of revenue growth trends for mobile operators in the top five European markets (UK, Germany, France, Italy and Spain). The historical analysis is based on the published results of the operators, although they include our estimates where their data is inconsistent or not complete. A copy of the underlying data in spreadsheet format is available to our subscription clients on request.
YouView, the hybrid DTT/IPTV service backed by the public service broadcasters, is here, but with an initial retail box price of £300 it will be heavily dependent on the subsidies offered by ISP distributors BT and TalkTalk The TV market has evolved since YouView’s conception in 2008, with many other internet-enabled options now available; its managed and integrated approach gives it some advantages but doesn’t make it a ‘must have’ We expect YouView to mainly appeal to Freeview and BT Vision upgraders and project take-up between 1-3 million TV homes by 2015, though if the product improves and pricing falls dramatically it could see faster growth
News Corp will split publishing out of its business by creating a company to include newspapers in the US, UK and Australia as well as book publisher HarperCollins News Corp revenue growth has for some time been driven by explosive growth in cable network programming revenues, with slower revenue growth in film, TV, satellite TV and publishing The structural decline of print-based businesses is the main reason cited for the split. However, the Dow Jones and WSJ, both serving a B2B market, will be at the heart of the new publishing company’s value
In this report we show the findings of our 2012 UK mobile user survey. The report is a wide ranging analysis of the mobile market based on our consumer research, focusing on the competitive landscape among the mobile operators and smartphone manufacturers, and the changing consumer behaviour that has and will continue to impact the market
In this presentation we show our analysis of revenue growth trends for mobile operators in the top five European markets (UK, Germany, France, Italy and Spain). The historical analysis is based on the published results of the operators, although they include our estimates where their data is inconsistent or not complete. A copy of the underlying data in spreadsheet format is available to our subscription clients on request.
Further sharp year-on-year declines in viewing share by the leading commercial PSB channels, ITV1 and Channel 4, in Q1 2012 run contrary to the general stabilisation of viewing trends as Digital Switchover nears completion
The Channel 4 decline is more easily explained by exceptional factors, while closer examination of NAR trends suggest that ITV Family NAR has performed less well in recent quarters than results releases suggest
Once past Digital Switchover, digital convergence trends appear less of a threat towards the future stability of ITV and Channel 4 family viewing trends than the competitive threat from Sky as it raises its investment in UK programme origination
CPW’s key operating metrics worsened again in the March quarter, with connection volume growth dropping to -19% and like-for-like revenue growth dropping to -5.5%
Weakness in the UK prepay market continued to affect CPW’s results, with volumes again down 30-40%, but contract sales did not mitigate this as much as last quarter, with growth in the UK but declines in continental Europe
Prepay is not likely to improve until the end of 2012, as the volume decline annualises out and more smartphones are available at prepay price points, and contract recovery is dependent on economic recovery
EE’s subscriber growth in Q1 was solid enough given a market slowdown, but disappointing given T-Mobile’s Full Monty tariff launch. With O2’s ‘On and On’ launched in late March, the outlook for subscriber growth will be tougher in the rest of 2012
Service revenue growth was more encouraging, improving by 1.5 ppts after a disappointing Q4. This appears to have been largely volume driven (i.e. existing users using their handsets more), which is encouraging for the operators yet to report Q1 figures (i.e. Vodafone and O2)
The company’s main competitive weapon going forward should be the quality of its network – even post-consolidation it will have more 3G sites than any other operator and may be able to use its 1800MHz spectrum to gain a head-start in 4G. However, communicating that both brands have an outstanding network, without encouraging subscribers to migrate to the lower-priced T-Mobile, will be problematic
Sky Deutschland has renewed its broadcast rights contract with the Bundesliga until 2017, removing the most important source of uncertainty for investors and consumers, albeit at the cost of a 77% jump in the fee from 2013/14
Combined with Sky’s new exclusive channels, high definition offer and on-demand services, the contract will sustain subscriber growth, but ARPU will only rise slowly
Although we forecast Sky to meet its EBITDA breakeven target in 2013, cash flow should stay negative until 2015 due to rising spend on receivers
In this presentation we show our analysis of revenue growth trends for mobile operators in the top five European markets (UK, Germany, France, Italy and Spain). The historical analysis is based on the published results of the operators, although they include our estimates where their data is inconsistent or not complete. A copy of the underlying data in spreadsheet format is available to our subscription clients on request.