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
News International’s decision to raise the price of the Sun on Sunday is partly a result of it being seriously under-priced since launch and partly a signal of a broader strategic focus at News International and press generally
With digital revenues not scaling as publishers had hoped and with print advertising continuing its structural decline, newspaper and magazine publishers are finding success with the oldest trick in the book: increasing cover prices to drive up income
Publishers are realising that circulation decline is accelerating anyway and price increases appear to constitute only a marginal additional loss. It no longer makes sense to undervalue the product
Sky Deutschland is reaping the benefits of its re-launch using BSkyB’s model, with an improving content offering and quality of user experience, plus a favourable environment for household consumption in Germany.
2012 results came in very close to our forecasts and we predict that Sky Deutschland will break even at EBITDA level in 2013 and turn cash flow positive in 2015.
The competitive context is benign and the horizon is clear until the next Bundesliga auction in 2016. But, in the meantime, cable, IPTV, FTA and OTT players are committed to widening their pay offers, which may put pressure on Sky’s subscriber growth and content costs.
German unbundlers are in decline, unable to match cable for price or bandwidth, or to invest in new fibre networks. Vodafone, the second largest unbundler, must choose between consolidating and divesting Merging with Kabel Deutschland would deliver fixed line synergies – with high execution risks. But, based on the French and Spanish experiences, we doubt that a quad play strategy (synonymous with a price war) would generate value Mobile operators’ fixed line ventures are also in decline elsewhere in Europe, but cable is not always to blame, with pure play fixed line altnets also tending to outperform them, suggesting that genuine cross-selling advantages are marginal at best
In this presentation we show our analysis of trends in UK broadband and telephony to September 2011, together with our latest projections for residential broadband subscribers and market shares to 2016. Highlights for the 2011 September quarter include accelerating growth in the number of subscribers to high speed broadband, and the continuing increase in market share of BT Retail and BSkyB at the expense of virtually all other players. This quarter’s edition includes a look at high speed broadband pricing, and our take on the new guidelines on broadband advertising.
Although we continue to expect broadband subscriber growth to drop, we expect growth to be supported by increasing adoption among older and/or lower income householders, who are becoming more aware of the benefits of going online. We have also increased our residential market share projection for BT Retail, which has gained real momentum over the past year, with brand strength among late adopters and effective marketing of high speed broadband both having an impact.
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
National newspaper circulation continued its inexorable decline in September, with daily circulation down 7% year-on-year, although we estimate retail sales value decline was marginal
Sunday popular and mid-market newspaper circulation fell 4% month-on-month, as News of the World buyers continue to drop out of the market; we estimate around a third of ex-readers have not migrated to another title
Publishers are responding to circulation decline in a variety of ways, from churning out bulks to maintain scale, to increasing cover prices, axing international editions and developing their subscriber base
The European Court of Justice (ECJ) judgment in the Portsmouth pub landlady case looks to have opened the door to legitimising the private or domestic use of decoders to watch premium sports and other pay-TV content outside the territories for which they were licensed
The outcome could prove to be a significant commercial opportunity for Sky to expand its overseas distribution among residential customers, but an extra test for the Football Association Premier League (PL) as it designs the next round of contracts with a view to at least maintaining current revenues
The ECJ judgment is more ambiguous over the question of public screenings for commercial purposes against the wishes of the right holders and the conclusion appears some way off
In the context of his Inquiry, Lord Leveson invited Claire Enders, as “one of the UK’s foremost media business analysts”, to kick off the seminar series on the 6 October with a synoptic presentation on “Competitive pressures on the press”. The Inquiry is interested in understanding the market economics of the mainstream media, including the impact of technology
This presentation brings together our existing work on the newspaper and consumer magazines industry, with an emphasis on the former, highlighting the challenges to the print media of the internet
A video transcript of Claire’s presentation and the debate on the session’s subject of “Competitive pressures on the press and the pressures on journalism”, may be accessed on the site of the Leveson inquiry, at www.levesoninquiry.org.uk
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