H3G’s European operations accelerated their underlying service revenue growth to 7.8% in H1 2012, and EBIT margin improved slightly from 3% to 4%, but the growth appeared to be significantly helped by aggressive handset subsidies in Italy, with the company’s unconventional accounting policy disguising the impact on EBIT The UK business continued to perform very well, with contract net additions strong again helped by falling churn, and service revenue growth accelerating from 13% to 14%. H2 will be tougher with more pressure on churn, but we still expect growth to exceed 10% The Italian business significantly slowed its revenue decline, from -14% to -4%, but it appeared to do this through very aggressive contract SACs, and the effects of this on EBIT are likely to be felt over the coming year
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.
H3G’s European operations slightly improved underlying service revenue growth, and EBIT margin improved from 0% to 3%, but the latter figure was flattered by a change in handset subsidy accounting; without this change, EBIT would likely have been negative
The UK and Italian performances further diverged, with UK growth accelerating in H2 to +13%, and Italy decelerating to -14%, despite a renewed (and expensive) push for contract subscribers in Italy
The UK business has positioned itself well for the smartphone revolution, with its all-you-can-eat data plans particularly popular, although the resulting traffic surge may cause service quality problems in the future
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.
Mobile operators, services and handset makers are diverging – they all come to the MWC but have increasingly little to say to each other as their businesses move in very different directions
In the context of -5% European mobile revenue growth, the MNOs at the MWC were a sober bunch, focusing on industrial services, defensive moves around messaging, and a (not unreasonable) plea to regulators for some relief
As competition in Android intensifies between hundreds of black plastic rectangles, the picture for OEMs looks tough but Google’s failure to make Android work well for developers may also start to bite, leaving an opening for Nokia and Windows Phone
We forecast print media advertising will be down by about 4% in 2012, with national newspaper display roughly flat, performances we envisage will be seen as a temporary reprieve once the substantially tougher 2013 that we expect to follow is underway
Print media is not out of the structural woods, and even relatively small revenue contraction will amplify pain as the opportunities for further streamlining fixed-cost physical distribution operations are realistically diminishing
Digital is a greater challenge for paper than for screen media, as consumer and advertiser demand continues to weaken, yet publishers struggle to generate the killer service solution to stimulate scale revenue online
News International is to launch the Sun on Sunday on 26 February, seven months after closing the News of the World
In the intervening period, Trinity Mirror has picked up the bulk of the 55% of NoW copies that have not entirely fallen out of the market since June 2011
The £150 million revenue once generated by NoW is diminished and dispersed among rival publishers and we estimate that even a triumphant launch would likely generate half to two thirds of the income of the closed title
Enders Analysis co-hosted its annual conference, in conjunction with BNP Paribas and Deloitte, in London on 19 January 2012. The event featured talks by 13 of the most influential figures in media and telecoms, and was chaired by Sir Peter Bazalgette. An edited transcript of notes taken during the speaker presentations follows.
The speakers were Sir Martin Sorrell (CEO, WPP), Glen Moreno (Chairman, Pearson), Martin Morgan (CEO, DMGT), David Levin (CEO, UBM), Dan Cobley (MD, Google UK & Ireland), Mike Pocock (CEO, Yell), Vittorio Colao (CEO, Vodafone), Charles Dunstone (Chairman, Carphone Warehouse, TalkTalk Group), Stephen Carter (President, Alcatel-Lucent EMEA), the Rt. Hon. Jeremy Hunt MP (Secretary of State for Culture, Olympics, Media and Sport), Neil Berkett (CEO, Virgin Media), Liv Garfield (CEO, Openreach) and Ed Richards (CEO, Ofcom).
Rumours that News International will consider launching a newspaper to replace the News of the World have circulated for months, and probably only one event can dispel them
Trinity Mirror has picked up the bulk of the 60% of NoW copies that have not entirely fallen out of the market since June 2011, and arguably the longer any launch is delayed the harder it will be for NI to attract them back
The £150 million revenue once generated by NoW is diminished and dispersed among rival publishers and we estimate that even a triumphant launch would likely generate half to two thirds of the income of the closed title