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  • New
    April 17, 2019

    Cinema market trends 2019 – Australia and New Zealand

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    Cinema revenues in Australia are projected to decline gradually over the next 5 years primarily due to cheaper substitutes on offer for consumers. Netflix has paved the way for cinema disruption and distributed 75 original films in 2018. Fellow disrupter MoviePass has continued to struggle due to an unprofitable business model.
  • New
    April 16, 2019

    Google and game streaming: double or quits

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    Google’s Stadia promises the most credible game streaming service yet, but building a subscription bundle of top titles would require an all-out bet in the sector. Google is building its own game studios – to win over others it must overcome a troubled history in gaming, mitigating risks to developer business models and creative integrity. Games are much more technically demanding to stream than video, presenting an advantage to Google, Microsoft and Amazon – and a boost to telecoms network demand, welcomed by operators.
  • April 12, 2019

    Monthly Australian TMT Wrap: March 2019

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    The number of announced transactions in March is low relative to February. A number of companies raised capital for a range of purposes, which were well received by the market. The volatility in Lyft’s share price post listing has shown that the market has struggled to price Lyft due to a lack of comparable listed companies in similar sector.
  • April 10, 2019

    Mobile Sports Streaming, Gaming and E-sports: A revenue opportuni [...]

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    There’s been a lot of speculation in the market about the revenue upside for 5G operators. Our latest Australian consumer survey shows there is good 5G market awareness and that 18% of subscribers would consider paying a price premium for a better 5G network experience. Venture Insights believes a 5G product which allows subscribers to move to a separate 5G slice which provides enhanced data throughput would clearly work with the gaming and sports consumer segments and benefit the network provider if offered as a (for example) $5 - $10 monthly option. The risk is that if Telcos stick with AYCE and unlimited plans, then the platform operators (such as Google Stadia) will benefit from the cloud based gaming subscriptions and take advantage of a better 5G network
  • April 5, 2019

    Apple’s showtime: everybody gets a service, partners get pennie [...]

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    ­­­­Apple is strengthening its household model by doubling down on family-friendly content subscriptions and payments. The model is reliant on hard bargains with mainly US partners, which risks sacrificing potential scale for a short-term boost in margin dollars. The new services offer glimpses of novel concepts, but stop short of taking risks to truly differentiate—a problem in TV, where Apple’s distribution advantage is slimmer than Oprah would have it.
  • April 4, 2019

    BBC Studios and Discovery in the UK: a new SVOD and the UKTV spli [...]

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    The split of UKTV has been announced with the lifestyle channels going to Discovery, while the balance, along with the UKTV brand and VOD service, retained by the BBC, costing BBC Studios £173 million. In the same release, a new, global Discovery SVOD “powered” by BBC natural history and factual programming was announced, backed by a ten-year content partnership. The deal is a positive step for the BBC, which safeguards against flaky brand attribution internationally and the potential loss of revenues from Netflix, which is becoming more choosy when acquiring content.
  • April 3, 2019

    eSports and Broadcasters – to TV or not to TV…

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    eSports viewership and revenues have grown significantly in the past few years and look set to continue growing rapidly. The rapid growth and the much-coveted millennial viewer base has caught the eye of traditional broadcasters who are looking at ways to explore this new content genre. But has the eSports ‘gravy train’ already left the station?
  • March 22, 2019

    Monthly Australian TMT Wrap: February 2019

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    February saw an increased level of market activity in comparison to January. The uncertainty around the TPG-VHA merger continues, with TPG is likely to write down the value of its spectrum licenses and mobile network assets in event the merger doesn’t get ACCC approval.
  • March 22, 2019

    BritBox’s muted arrival in the UK: ITV FY 2018 results

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    After the heights that Love Island and the World Cup took ITV to in H1, the broadcaster held on over the tougher last few months of 2018 to see growth in ad revenue (0.8%) and total viewing (linear and VOD, 3%). However, it was the announcement of the subscription video service BritBox—with the discussions around the “strategic partnership” with the BBC in its concluding phase—that garnered most interest. ITV’s investment in the service is modest when compared to its global competitors—up to £25 million in 2019, £40 million in 2020 and declining thereafter—but it is a prudent low-risk entry into what is an expanding but difficult market.
  • March 19, 2019

    UK online advertising: Brexit year forecast and trends

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    UK online advertising spend continued its double-digit growth in 2018, up 11% to reach nearly £13bn in annual spend or 58% of the total advertising market, but a no-deal consumer downturn could nearly stop growth this year. Google, Facebook, Amazon, professional services firms and the largest marketing cloud companies are the biggest winners, while content media, media agencies and independent advertising technology firms languish. Self-regulation has improved as pressure mounts on advertising technology firms, but interventions by both privacy and competition authorities are now inevitable.
  • March 15, 2019

    TikTok’s challenge to Western social media

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    Launched to the world in September 2017, TikTok is the first Chinese app to pose a serious threat to Western social media companies as it attracts hundreds of millions of Generation Z users around the globe. Privately-owned parent company Bytedance earned $7 billion in online advertising revenues in 2018 and is valued at $75 billion, placing it ahead of Uber as the world’s most valuable internet start-up, with an IPO likely this year. Bytedance’s goal of earning half its revenue outside China by 2022 is far from certain. In order to hit the target, TikTok will need to attain super scale with best-in-class revenue per user, an unlikely combination.
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  • March 12, 2019

    The future of UK video viewing: forecasts to 2028

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    Linear TV is still a mass market medium, watched by 90% of the UK population each week. However, our latest viewing forecasts predict broadcasters will account for two-thirds of all video viewing in 2028, down from c. 80% today, due to the relentless rise of online video services. Total viewing will continue to increase as more short-form content is squeezed into people’s days, particularly on portable devices, but the key battleground for eyeballs will remain the TV screen. The online shift has already had a huge impact among younger age groups, with only 55% of under-35s’ current viewing to broadcasters. Older audiences are slowly starting to follow suit, but have a long way to go.
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  • March 11, 2019

    ACCC’s Digital Platforms Inquiry – more regulation on the hor [...]

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    Google and Facebook have made their submissions relating to the ACCC’s Digital Platforms Inquiry. Both tech giants have focused their attention on the ACCC’s recommendation for the need to establish an "algorithm" regulator. If implemented it will have major consequences to the tech giants and potentially other players.
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  • March 8, 2019

    GDPR tested on Google, ad tech and Facebook

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    Recently issued regulator rulings on Google, ad tech companies and Facebook challenge prevailing online advertising practices of obtaining user consent under the EU’s General Data Protection Regulation (GDPR). Rulings from France on Google and ad tech partners of media owners called them out for inadequate disclosure to users, and excessive merging and processing of data. In a landmark precedent for Germany, the Federal Cartel Office found that Facebook lacked “freely given” consent from users, calling its terms “exploitative” and an abuse of its dominant position, also harming competitors.
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  • March 6, 2019

    Sports SVOD – Can Foxtel deliver a KO?

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    Of all the video content genres, sport has the best reputation for delivering audience reach and a large number of viewers for traditional TV operators. But the rise of Sports SVOD and OTT platforms is threatening to undermine the established order. Foxtel has launched its standalone sports streaming service – Kayo Sports and signed up 100,000 subscribers within the first 3 months of launch.
  • March 1, 2019

    The Next solution to ecommerce

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    Consumers have more shopping options than ever, forcing businesses to expand how and when they offer services. Online giants Amazon and Alibaba are adding physical retail to extend their routes to market. Omnichannel provides consumers an enhanced, seamless brand experience from research and discovery to purchase, delivery and after-sales, and allows businesses to react to changing consumer preferences more flexibly. Next is an omnichannel success story, introducing 48-hour home delivery in 1988 and online sales in 1999. Its market-leading fashion ecommerce business offers lessons on the future of retail.
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  • February 27, 2019

    The price is right for UK’s national newspapers

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    The average cover price of national newspapers has risen by 58% since 2010, more than twice the CPI increase of 22%. Are publishers “shooting themselves in the foot” at a time when buyers and advertisers are defecting to online?. To settle this, we analysed all the cover price events by national titles between 2010 and 2018, which reveals the relative success of The Times when it has raised its price. For mid-market and popular titles, cover price hikes have on balance reduced circulation revenues and, by lowering reach, drained advertising revenue: a lose-lose scenario.
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  • February 27, 2019

    oOh!media CY18 update: market outlook remains strong…

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    On 25th February 2019, oOh!media reported its full year CY18 earnings update.Venture Insights forecasts strong growth for the OOH market. oOh!media reported strong earnings and looks set to benefit from the ongoing momentum in the OOH space albeit with some short-term slowdown due to the elections.
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  • February 26, 2019

    Seven and Nine 1H19 update – increasing share in a declining ma [...]

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    Seven West Media and Nine Entertainment reported their 1HFY19 earnings last week. With a challenging environment for the core FTA business, traditional broadcasters must focus on improving audience share, driving new audience growth through digital content offerings and taking costs out of the business.
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  • February 22, 2019

    BT Global Services: Playing a bad hand as well as it can

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    BTGS’s strategic plan seems like a sensible move in a very challenging market but it heralds its transition to a new operating model where its competitive advantage is largely eroded, its addressable market squeezed and it is arguably sub-scale. Although hybrid infrastructure and revenues from transition to cloud-based IT will provide something of a cushion, guidance and consensus forecasts are too optimistic in our view – cost-cutting plans are therefore likely deficient. Longer term, with IT services increasingly easy for corporates to manage themselves, diminished appetite for hybrid networks and global giants such as Amazon, Microsoft and Google squeezing out the middle-man, the space that BTGS occupies is likely to be considerably smaller.
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  • February 22, 2019

    Time to create an addressable UK TV market

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    Addressable linear TV advertising, where precision-targeted ads overlay default linear ads, could enhance the TV proposition for advertisers, agencies and viewers, benefiting all broadcasters. In the context of dwindling linear viewing and rocketing online video ad spends, the adoption of Sky AdSmart and similar services on YouView and Freeview could take addressable TV ads from a sideshow to a pillar of revenue. Addressable linear is a bigger and more strategic prize for broadcasters than BVOD ads. Sky holds the key to wider adoption of its AdSmart platform if it can find a way – or a price – to bring ITV Sales and/or 4 Sales on board.
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  • February 21, 2019

    BT Q3 2018/19 results: Openreach stronger than it looks, but Cons [...]

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    BT’s Q3 results were a little mixed, with mobile particularly weak, but the company remains on track to meet/exceed its (fairly conservative) guidance for the current year, and hit (modest) consensus expectations for 2019/20. Openreach was very weak at the headline level (-9%), but stripping out an accounting effect and internal revenue the division grew by 2% by our estimates despite significant price cuts, and full fibre roll-out is progressing well. While Openreach should accelerate this year, Consumer will be hit by a price rise holiday and slowing mobile, with investors likely having to wait for existing sports rights contracts to play out to see significant profitability improvement.
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  • February 20, 2019

    Monthly Australian TMT Wrap: January 2019

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    January was a rather quiet month in the Australian M&A space, with the ELMO Software/ BoxSuite’s binding sale agreement as the only major transaction. The launch of 5G networks in Australia continues with the results of the 3.6GHz spectrum auctions, though TPG will scale down its deployment due to the Huawei equipment ban.
  • February 19, 2019

    Domain 1HFY19 update: pricing power and depth penetration save th [...]

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    On 15th February 2019, Domain reported its 1HFY19 earnings. Pricing power, depth penetration and adjacent businesses drove revenue growth in an otherwise tough housing market while weakness in print meant overall revenue growth was flat YoY.
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