On 9 and 10 March 2021, Enders Analysis co-hosted the annual Media & Telecoms 2021 & Beyond conference with Deloitte, and sponsored by Barclays and The Financial Times.

With over 50 speakers from the TMT sectors, including leading executives, policy leaders, and industry experts, the conference focused on the impact of the pandemic on society and the TMT sector, decarbonising work, and the post-pandemic recovery.

Over 1,000 attendees enjoyed our first virtual conference and these are edited transcripts ofthe speakers on Day 1, with keynote speeches and sessions on: sustainability in the TMT sector, news media, telecoms, and tech. Videos of the presentations are also available on the conference website.

On 9 and 10 March 2021, Enders Analysis co-hosted the annual Media & Telecoms 2021 & Beyond conference with Deloitte, sponsored by Barclays and The Financial Times.

With over 50 speakers from the TMT sectors, including leading executives, policy leaders, and industry experts, the conference focused on the impact of the pandemic on society and the TMT sector, decarbonising work, and the post-pandemic recovery.

Over 1,000 attendees enjoyed our first virtual conference and these are edited transcripts of the speakers on Day 2, with keynote speakers and sessions on: policy, advertising, video and sports, and video production. Videos of the presentations are also available on the conference website.

The COVID-19 crisis and suspension of sport has hit Sky hard, with Q2 revenue falling 12.9% year-on-year, and EBITDA (while flat for now) expected to fall 60% in H2 as the rights costs from a condensed schedule hit the bottom line

Underlying trends are hard to discern amidst massive disruption, but the UK remains strong, and increasingly less dependent on sport, with continental Europe a work in progress to repeat this model

Longer-term initiatives continue, with new branded channel launches in the UK, broadband launched in Italy, and scope for further moves in Germany provided by significant sports rights cost savings following recent auctions

The COVID-19 crisis is compounding the already grim revenue prospects for upcoming football rights sales in continental Europe.

The financially weakest leagues in Italy and France are especially exposed. Serie A is exploring deals with private equity firms, with the pros and cons finely balanced.

There is a window of opportunity for Sky and Canal+—the adults in the room—to build coalitions with selected clubs to nudge leagues towards needed reforms including longer licence terms, reducing the number of clubs and more equal revenue splits.

Despite two decades of online disruption, the UK remains reliant on traditional platforms and brands across the media sector—more so for older cohorts, but also for younger generations.

13% of adults still do not use the internet and, in reality, an online-only media ecosystem remains a distant prospect.

Traditional providers, particularly within TV, radio and news, look set to endure for the long term, aided by the trajectory of the UK’s ageing population.

Many European telecoms operators are pursuing a fixed/mobile convergence strategy on the pretext that the addition of mobile reduces churn. We see no evidence of churn reduction from this strategy

Discounts required to encourage take-up of fixed/mobile services are often value-destructive, even before competitor reaction: a 10% bundle discount necessitates a 2ppt improvement in churn to wash its face economically. M&A premia on the basis of convergence synergies raise the hurdle even higher

Most UK operators offer very limited discounts on fixed/mobile bundles for now, sensibly focusing on enhanced services. Vodafone is the most aggressive, albeit less so than it is elsewhere. All UK players should hope that it stays this way

Sky posted yet another set of solid results, with revenues up 5% and operating profits up 10%, despite weakening operating metrics in Germany & Austria

Deals with Netflix and Spotify will enhance the customer experience, signalling Sky's confidence in its platform, perhaps a sign of further deals to come

A successful outcome from February’s Premier League auction sealed the prospect of a takeover battle for Sky, with Comcast launching its formal bid this week