UK broadband subscriber growth continued to decline in Q4 2008 year-on-year. We expect declining growth throughout 2009, with the growth rate remaining positive, but in single figures
Carphone Warehouse’s distribution business felt the recessionary chill for the first time in the December quarter, but its like-for-like organic growth of -1% was still far better than other consumer electronics retailers have fared
The market outlook is unfortunately still worsening. While we still expect Carphone Warehouse to outperform its competitors, its results are likely to get worse before they get better
In fixed line, net broadband additions were reasonable at TalkTalk but negative again at AOL. We are sceptical of the prospects for subscriber growth at AOL, and earlier guidance of 200-250k broadband net adds for the year to March now looks unlikely to be met
Ending a simmering commercial dispute, Vivendi’s Canal+ has agreed to distribute its packages to France Télécom’s Orange TV satellite customers, allowing Orange to relaunch its DTH platform (targeting 4 million customers off the DSL TV footprint) after its dismal ‘do-it-alone’ first six months
Canal+ recruitments will benefit from the resumption of active marketing for its packages over Orange TV platforms, after a poor year for subscriber growth
Canal+ catch-up TV will now be available to all Orange Canal+ DSL TV subscribers, as it is to those on Free, where it is very popular, plus Orange satellite subscribers, thus giving Orange back the leadership position on IPTV in France
After two quarters that have fallen short of earlier guidance, TF1 Q3 results have at last met more subdued investor expectations of marginal growth in flagship TF1 channel advertising revenues in a total market expected to increase by about 4.5% in 2007, chiefly due to digital growth
The distribution side was slightly weak again, but the prospects for the Christmas quarter are much better, with the iPhone exclusivity a big help even if its sales prove to be weak
The Apple iPhone will finally be available in the UK on 9th November, sold exclusively through Apple, O2 and Carphone Warehouse, and costing a hefty £269 when bought with a minimum £35 a month 18 month contract
Carphone Warehouse is seeking to position itself as an impartial guide to the broadband products from 6 different brands, although it is not selling the product sets of BT, Sky or Tiscali
The distribution business was slightly weak despite good like-for-like store sales, due to the lower quality ‘off-the-page’ newspaper advertisement business being successfully cut back by the mobile operators
The distribution business had a strong year, marred by a longer than usual Christmas hangover in the last quarter, but the early signs for the new financial year are promising
French altnet Neuf Cegetel is buying Club Internet from Deutsche Telekom for an estimated €500 million and will overtake its rival Free as the #2 on the DSL market, still way behind Orange