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  • December 11, 2018

    Hulu casts a spell

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    When its acquisition of 21st Century Fox closes, Disney will own 60% of Hulu. If it bought Comcast’s 30% stake (and WarnerMedia’s 10%), it could fully leverage the platform for its US direct-to-consumer strategy. Comcast’s Hulu stake has little strategic value to it. We argue it should sell to Disney in exchange for long-term supply deals for ESPN, as well as for the upcoming Disney+ and Hulu, similar to its recent pacts with Amazon Prime and Netflix. This could naturally be extended to Sky in Europe depending on whether Disney decides to launch all direct-to-consumer or sticks with pay-TV in certain markets.
    When its acquisition of 21st Century Fox closes, Disney will own 60% of Hulu. If it bought Comcast’s 30% stake (and WarnerMedia’s 10%), it could fully lever [...]
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  • December 7, 2018

    Virgin Media UK Q3 2018 results: Cautiously accelerating growth

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    Virgin Media’s revenue growth accelerated in Q3, off the back of improved subscriber ARPU and triple play growth, but actual customer and broadband figures slowed in line with the weakening market. Network roll-out was still (deliberately) slow, with the rate now well below the previous year, and the company indicating that it is not expecting to accelerate, although it is still the fastest new network builder in the UK by some margin. Both the ARPU focus and slow roll-out point to a cautious approach, with the company happier to ensure its existing customers offer good yields than to seek significant market share growth at this stage, which is probably wise.
    Virgin Media’s revenue growth accelerated in Q3, off the back of improved subscriber ARPU and triple play growth, but actual customer and broadband figures sl [...]
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  • December 6, 2018

    Refocus imperative at Vodafone UK

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    Vodafone’s deteriorating financial performance is as much due to an increasing margin of underperformance relative to its peers as to challenging markets such as Italy. A strategic refocus on operational performance is long overdue and seems largely sensible, save for the continued push for discount-led convergence products which are driving underperformance. Although Vodafone posted 3% organic EBITDA growth for H1 of this year and is guiding to same for the full year, we view this definition as overly flattering with true EBITDA performance flat and revenues in decline.        
    Vodafone’s deteriorating financial performance is as much due to an increasing margin of underperformance relative to its peers as to challenging markets such [...]
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  • Free
    November 28, 2018

    Telemedicine and AI Outlook in Primary Care

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    In this report, we provide a brief overview of ‘telemedicine’ including a 2035 forecast of the impact of telehealth tools, both human and artificial intelligence, in relation to ‘unreferred medical services’2 in the primary health market. This report does not assess or analyse the full potential for telemedicine which derives from other applications, such as remote surgical operations, sharing of digital health records or remote patient monitoring. These activities clearly would have significant additional benefits to the those explored in this report. The report outlines the importance of primary care in shaping Australian health and seizing ever-increasing health costs.
    In this report, we provide a brief overview of ‘telemedicine’ including a 2035 forecast of the impact of telehealth tools, both human and artificial intelli [...]
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  • Free
    November 27, 2018

    Telemedicine in Australia

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    In this report, we provide a brief overview of ‘telemedicine’ and business models associated with provision of telemedicine services along with barriers that may slow down adoption of the online tool. Venture Insights believes that telemedicine will play an important tool in scoping the primary care in Australia- changing the way GPs deliver their services. We believe that the inefficiencies in healthcare, growing health costs and rising demand for quality care lead to a rising need for disruption: tools that can reduce costs while driving access to care.
    In this report, we provide a brief overview of ‘telemedicine’ and business models associated with provision of telemedicine services along with barriers tha [...]
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  • November 20, 2018

    BT Q2 2018/19 results: Beating expectations, guidance still look [...]

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    BT’s Q2 results were well ahead of both its full year guidance run-rate and financial market expectations, with revenue flat and EBITDA up 3% versus guidance and consensus at -2% for both metrics. Operating metrics were more mixed, with broadband churn high and (our estimate of) net adds low, but fixed ARPU was solid, backed up by rapid adoption of BT Plus, fibre adoption re-accelerated and mobile was strong across all metrics. While part of the outperformance was likely due to H1/H2 phasing, it also reflects fairly conservative expectations and a solid operating performance, and hence full year guidance still looks very beatable, with a positive outlook beyond this.
    BT’s Q2 results were well ahead of both its full year guidance run-rate and financial market expectations, with revenue flat and EBITDA up 3% versus guidance [...]
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  • November 16, 2018

    UK PSB SVOD

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    The Public Service Broadcasters (PSBs) have been mulling a possible SVOD service, a decade after their ad-supported Project Kangaroo was blocked on competition grounds. Even if a reboot between the BBC and ITV were this time to be approved, we do not think Kangaroo 2 can succeed as a significant SVOD entrant in its home turf of the UK, above all because it’s too late. Other flaws in the offer are that it would be too small, non-premium, too old (archive), and too old (viewing profile), plus lacking sufficient financial resource to produce a pipeline of unique series.
    The Public Service Broadcasters (PSBs) have been mulling a possible SVOD service, a decade after their ad-supported Project Kangaroo was blocked on competition [...]
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  • November 15, 2018

    UBS Conference: What could the media landscape look like in 5 yea [...]

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    Venture Insights attended the annual UBS Investors Conference for 2018 on 12th and 13th November, with a number of interesting panels across the two days. The participants of the Media panel were unanimous in their view that while digital remains an important area of growth, traditional media operators are starting to get their act together and are aligning their offerings more closely with customer preferences.
    Venture Insights attended the annual UBS Investors Conference for 2018 on 12th and 13th November, with a number of interesting panels across the two days. The p [...]
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  • November 15, 2018

    UBS Australasia Conference – 5G’s accelerating progress

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    Venture Insights attended the annual UBS Investors Conference for 2018 on 12th and 13th November, with a number of interesting panels across the two days. The participants of the 5G panel moderated by Venture Insights commented on the positive effects 5G will have on not just the telco industry but also verticals such as healthcare, transportation and manufacturing.
    Venture Insights attended the annual UBS Investors Conference for 2018 on 12th and 13th November, with a number of interesting panels acro [...]
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  • November 13, 2018

    BBC drama: a loosening grip

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    A string of big, bold hits like Bodyguard, Killing Eve and Little Drummer Girl has reinvigorated the perception of the BBC’s drama schedule, with massive ratings and a coveted place in the public conversation. However, the lack of the broadcaster’s top dramas actually produced by BBC Studios—declining to just 4 of the top 25 in 2018—is cause for ongoing concern. At a time when the BBC is attempting to bulk up the iPlayer and programme IP has become the bedrock broadcasting asset, the BBC could be better placed.
    A string of big, bold hits like Bodyguard, Killing Eve and Little Drummer Girl has reinvigorated the perception of the BBC’s drama schedule, with massive rati [...]
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  • November 12, 2018

    Radcomms 2018 & the upcoming 3.6GHz spectrum auctions

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    ACMA’s premier conference Radcomms 2018 was held on October 30-31 with industry experts presenting and discussing a range of topical issues regarding spectrum regulation, new emerging trends and industry policies. Australia’s spectrum regulation should be fast tracked to enable telcos to deploy next generation technologies faster to consumers. We expect strong competition for spectrum in the upcoming 3.6GHz auction.
    ACMA’s premier conference Radcomms 2018 was held on October 30-31 with industry experts presenting and discussing a range of topical issues regarding spectrum [...]
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  • Free
    November 2, 2018

    AI and Genomics in Healthcare

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    Given the unsustainability of health expenditure growth rates, we explore how AI and genomics might assist Australia to achieve higher quality health services at lower costs. We provide a definition and analyse main drivers and impacts of implementing AI and genomics in medicine.    
    Given the unsustainability of health expenditure growth rates, we explore how AI and genomics might assist Australia to achieve hi [...]
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  • October 22, 2018

    New Zealand consumer interest growing for 5G mobile

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    Venture Insights’ latest New Zealand consumer mobile survey demonstrates growing 5G interest with video streaming and fixed wireless broadband shaping up to be key use cases. Leadership in 5G network rollout is likely to provide strong benefits from the acquisition of early adopters from competing networks.
    Venture Insights’ latest New Zealand consumer mobile survey demonstrates growing 5G interest with video streaming and fixed wireless broadband shaping up to b [...]
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  • October 9, 2018

    The role of IoT in the Healthcare Industry

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    IoT is set to transform the healthcare industry enabling ease of data collection, analysis and bringing medical services into patients’ hands.. Advanced procedures and real time services can be made possible, improving efficiency and reducing redundant costs. However, there are many hurdles that need to be overcome for the IoT vision to be realised and will likely take many years.
    IoT is set to transform the healthcare industry enabling ease of data collection, analysis and bringing medical services into patients’ hands.. Advanced proce [...]
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  • September 27, 2018

    Mobile Video, 5G Adoption and Telco Media Strategies

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    Telcos, both globally and locally, have increasingly turned to media and content, in particular sports content, to provide diversification, differentiation and to turn around slowing growth in revenue and ARPUs. Venture Insights’ latest mobile survey shows strong interest in both 5G adoption and mobile video usage – indicating a clear consumer use case for 5G.
    Telcos, both globally and locally, have increasingly turned to media and content, in particular sports content, to provide diversification, differentiation and [...]
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  • September 13, 2018

    IoT Impact 2018 – Preparing Australia for IoT

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    The inaugural hosting of Australia’s largest Internet of things (IoT) conference and expo IoT Impact was held at the University of Technology, Sydney on 10-11 September 2018. IoT is truly here to stay and already making huge impacts across a variety of sectors. Government and private companies need to collaborate to ensure successful implementation of IoT to deliver long term benefits.

    The inaugural hosting of Australia’s largest Internet of things (IoT) conference and expo IoT Impact was held at the University of Technology, Sydney on 10-11 [...]
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  • September 10, 2018

    Japan’s recorded music market starts to stream

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    Recorded music revenues in Japan are stuck in decline as physical sales sag, although 2017 marks the first year when streaming gained a foothold with 8 million subscribers. J-pop fans spend on 'experiences' with their idols including events, merchandise, CDs and DVDs, which streaming cannot replicate. Top native LINE MUSIC offers integration with a popular messaging app and bundling with mobile. Serving international repertoire, Apple Music claims more subscribers than Spotify in Japan, which is more localised, and has most users on the free tier. Amazon Prime Music is a looming constraint on the adoption of subscriptions. 
    Recorded music revenues in Japan are stuck in decline as physical sales sag, although 2017 marks the first year when streaming gai [...]
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  • September 5, 2018

    High 5G consumer interest keeps pressure on network rollout

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    Operator positioning for 5G network plans in Australia and New Zealand continues to pick up pace – as Venture Insights’ latest consumer mobile survey demonstrates strong interest from Australian consumers. Leadership in 5G network rollout is likely to provide strong benefits from the acquisition of early adopters from competing networks.

    Operator positioning for 5G network plans in Australia and New Zealand continues to pick up pace – as Venture Insights’ latest consumer mobile survey demons [...]
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  • August 27, 2018

    Audible, audiobooks and lessons from Amazon in the UK

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    Audiobooks are growing fast, driven by smartphone adoption and better supply, as well as interest from people who don’t usually buy books, such as young men. The sector is dominated by the presence of Audible, Amazon’s audiobook publisher/retailer, which has driven growth of audiobooks but put publishers under pressure. Its strategy is a lesson in Amazon’s approach to media. Audio is an opportunity to sell to new customers, but publishers must acquire and use rights responsibly, and experiment while not letting the audio tail wag the print dog.  
    Audiobooks are growing fast, driven by smartphone adoption and better supply, as well as interest from people who don’t usually buy books, such as young men. [...]
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  • August 27, 2018

    Nine Entertainment FY18 earnings update: digital drives growth

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    On 23rd August 2018, Nine Entertainment reported its FY18 earnings. Strong ratings performance in key demographics, rise in digital subscriber base and focus on controlling costs drove an uplift in revenue and earnings for FY18.

    On 23rd August 2018, Nine Entertainment reported its FY18 earnings. Strong ratings performance in key demographics, rise in digital subscriber base and focus on [...]
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  • August 24, 2018

    Vocus FY18 earnings update: Focus on the business segment

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    On 22nd August 2018, Vocus announced its FY18 financial results. Despite revenue and EBITDA increasing slightly, net profit fell 16%. Its SMB product Commander posted a revenue decline of 15%. Vocus needs to take immediate action to make the most of its fixed asset opportunities, acquire larger market share in Enterprise in NSW and VIC, and focus on differentiated products that reduce its dependence on legacy solutions.

    On 22nd August 2018, Vocus announced its FY18 financial results. Despite revenue and EBITDA increasing slightly, net profit fell 16%. Its SMB product [...]
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  • August 23, 2018

    Seven West Media FY18 earnings update: going all in on cricket

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    On 21th August 2018, Seven West Media reported its FY18 earnings. While an improving core business and focus on cost reduction delivered operating profits that were at the upper end of guidance, new programming and sports content is expected to drive ratings and financial performance going forward.
    On 21th August 2018, Seven West Media reported its FY18 earnings. While an improving core business and focus on cost reduction delivered operating profits that [...]
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  • August 21, 2018

    oOh!media earnings update: double digit revenue growth

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    On 20th August 2018, oOh!media reported its first half CY18 earnings. While digital continues to underpin majority of the growth, product and customer diversification ensured double-digit revenue growth despite fluctuations in certain business segments.  
    On 20th August 2018, oOh!media reported its first half CY18 earnings. While digital continues to underpin majority of the growth, product and custome [...]
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  • Free
    August 17, 2018

    Telstra FY18 earnings update: there’s a lot riding on 5G and Io [...]

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    On 16th August 2018, Telstra announced its FY18 earnings. While subscriber growth remained strong, it was not strong enough to offset ARPU declines. Telstra is betting its future on new initiatives (IoT) and network technologies (5G) to remain ahead in times of increasing competitive pressure in both fixed and mobile, however it faces competition from multiple other market participants.    
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    On 16th August 2018, Telstra announced its FY18 earnings. While subscriber growth remained strong, it was not strong enough to offset ARPU declines. [...]
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