Canal+ is entering a critical phase of growth following the recent merger with its former rival Télévision Par Satellite (TPS). Vivendi has set short term guidance targets for 2010 of 11.5 million subscriptions, turnover above €5 billion and more than doubling of EBITA from €490 million to over €1 billion. This presentation examines these targets and concludes that Canal+ will fall short of all them. In the best case baseline scenario of least competition from other pay-TV and free-to-air (FTA) services, it projects EBITA in 2010 of just €890 million
France’s football rights auction for the four seasons starting in 2008 ended with a second round on 6th February. Canal+ will keep most rights, while France Télécom picks up some live rights for the first time
Yell announced this week that full year sales growth (to March 2008) in its UK operations would be 2%, sharply down from the previously forecast 3%, due to “toughening market conditions” since the start of 2008
Vivendi’s preliminary results for FY 2007 show weak subscription growth by France’s leading pay-TV operator Canal+ despite the existence of special positive factors. Strengthening free-to-air (FTA) competition on the DTT and DSL platforms appears the main cause
In an apparent change of direction, France Télécom said it would consider bidding for all the 12 packages of French televised football rights at the auction to be held tomorrow, 31st January, including the primetime slots that last went to Canal+ – but FT also claims to rule out an all out assault against Canal+
Rumours that Google was acquiring Yell emerged at the end of last week, but we doubt the search giant would be interested in purchasing a traditional media company, particularly not one predominantly in print
To draw in competitors to Canal+, French football Ligue 1 broadcasting rights are being tendered in 12 lots, offered in three sequential auctions (non-premium Fans matches, Premium, highlights)
Canal+ targeted subscription (as opposed to subscriber) growth of 1.3 million by 2010 has a lot of stretch in view of the intense competition from free-to-air (FTA) services and in particular digital terrestrial TV
Yell UK is the dominant supplier of Classified Advertising Directory Services (CDAS) in the UK. Its principal competitor is BT but, as a natural monopoly, it is regulated, and has just undergone a sector review lifting the price caps currently in place. What does the future now hold for Yell, and more generally for CDAS, which has been the only growth sector in print classified advertising since 2004?