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November 16, 2020
FY20 Investor Day – Telstra counting on its 5G leadership to im [...]
Flash Report, ReportsTelstra held its annual Investor Day event on 12th November 2020. Telstra CEO Andy Penn and senior management addressed progress on its T22 strategy, the financial and earnings outlook, changing dynamics in the Enterprise market, progress on the 5G rollout, and changes to the company structure. In this report, we have analysed some of the key announcements from the event and provided our take on the same.Telstra held its annual Investor Day event on 12th November 2020. Telstra CEO Andy Penn and senior management addressed progress on its T22 strategy, [...] -
November 13, 2020
Update: The Australian tower market 2020 – Telstra’s TowerCo
Flash Report, Market Outlook, ReportsThe market for traditional macro-towers in Australia is mature. All three carriers have been expanding their tower networks only incrementally in recent years, and site growth is low. 5G will not change this significantly, because 5G base stations are being mounted on existing towers, not new ones.The market for traditional macro-towers in Australia is mature. All three carriers have been expanding their tower networks only incrementally in recent years, [...] -
November 13, 2020
Virgin Media: Subscriber growth renaissance continues
Flash Report, ReportsVirgin Media’s lockdown subscriber surge continued into Q3, as working-from-home highlights the importance of the faster speeds its network can offer.
Virgin Media’s lockdown subscriber surge continued into Q3, as working-from-home highlights the importance of the faster speeds [...]
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November 12, 2020
Google News Showcase An olive branch to publishers (and regulator [...]
Flash Report, ReportsOn 1 October, Google CEO Sundar Pichai announced $1 billion for worldwide news publisher partnerships for a novel News Showcase product, helping them to distribute their content to a new audience.On 1 October, Google CEO Sundar Pichai announced $1 billion for worldwide news publisher partnerships for a novel News Showcase product, helping them to distrib [...] -
November 11, 2020
2020 console launches Xbox looks to the future; PlayStation looks [...]
Flash Report, ReportsThe launch of new games consoles this week showcases broadly divergent strategies for Sony and Microsoft, with market leader PlayStation focused solely on defending its model against the rising tide of cheaper subscription games services.The launch of new games consoles this week showcases broadly divergent strategies for Sony and Microsoft, with market leader PlayStation focused solely on defen [...] -
November 9, 2020
BT: Glacially improving outlook
Flash Report, ReportsBT had a fairly mixed September quarter at the revenue level, with post-lockdown recovery evident in a number of areas, such as wholesale/commercial sports, Openreach installation and network build volumes, and consumer mobile net adds, but revenue weakness in mobile roaming (seasonal factors) and consumer fixed (regulator-inspired price cuts) resulted in overall group revenue growth unchanged.BT had a fairly mixed September quarter at the revenue level, with post-lockdown recovery evident in a number of areas, such as wholesale/commercial sports, Ope [...] -
November 5, 2020
MVNO Update: Has the Australian MVNO market peaked?
Market Outlook, ReportsAustralian MVNOs (not including sub-brands) have seen their market share grow from 6% in 2010 to 15% in 2020 with a majority of the growth happening between 2010-2015. However, we believe that MVNOs have reached a peak in Australia in FY20.Australian MVNOs (not including sub-brands) have seen their market share grow from 6% in 2010 to 15% in 2020 with a majority of the growth happening between 201 [...] -
November 4, 2020
Channel 4 2019, 2020 and beyond
Flash Report, ReportsChannel 4’s 2019 results were solid but unsurprisingly, greater interest is in how the broadcaster has fared in 2020, and what this might mean for its futureChannel 4’s 2019 results were solid but unsurprisingly, greater interest is in how the broadcaster has fared in 2020, and what this might mean for its future [...] -
November 4, 2020
O2 Looking beyond the nadir
Flash Report, ReportsThere was just a slight deterioration in trends at O2 this quarter as the COVID drag was fairly constant in total, although varied in mix. However, the iPhone launch in Q4 rather than Q3 was almost as detrimental to total revenue growth which will reverse next quarterThere was just a slight deterioration in trends at O2 this quarter as the COVID drag was fairly constant in total, although varied in mix. However, the iPhone l [...]Sector Telecom. -
October 30, 2020
UK economic outlook The V-shaped recovery turns W
Flash Report, ReportsThe August month-on-month GDP growth figure of 2.7% disappointed relative to the rebound that occurred in the wake of lockdown being lifted, with GDP expansion of 2.7% in May, 9.1% in June and 6.4% in July. The Bank of England’s prediction in its August Inflation Report of a strong V-shaped economic recovery and a return to pre-pandemic levels of economic output by the end of 2021 turned out to be overly optimistic.The August month-on-month GDP growth figure of 2.7% disappointed relative to the rebound that occurred in the wake of lockdown being lifted, with GDP expansion [...]Sector Economic Outlook. -
October 29, 2020
Australia Radio Market Outlook: Radio is secure for now, but comp [...]
Market Outlook, ReportsWe forecast Australian radio industry advertising revenue to grow at 4.2% CAGR over FY20-24, but it faces a gradual decline in its share of total advertising expenditure share (6.5% in FY20 vs 5.9% in FY24).We forecast Australian radio industry advertising revenue to grow at 4.2% CAGR over FY20-24, but it faces a gradual decline in its share of total advertising ex [...] -
October 26, 2020
Netflix Q3 2020 results: Returning to pre-COVID levels
Flash Report, ReportsNetflix’s usage and churn are “back to what they were a year ago”, while subscriber growth was down (+2.2 million globally) Two levers contributed to Netflix’s recent explosive growth, adding 26 million subscribers in the first half of the year: the pull-forward effect of the pandemic that saw future subs coming to the service early, and the drop in churn as those intending to leave hung about as there was nothing else to do except watch TV.Netflix’s usage and churn are “back to what they were a year ago”, while subscriber growth was down (+2.2 million globally) Two levers [...] -
October 22, 2020
Australian Pharmaceutical Expenditure Dashboard
Market Outlook, ReportsAustralian Pharmaceutical Expenditure Tracker: Online share to grow to 13.6% by 2025 As of 2020, Australia has a $19.2bn pharmacy market which is expected to grow at a CAGR of 2.9% for the next 5 years, to $22.1bn by 2025. The online market share of pharmaceutical revenue is forecast to increase from approximately 2% today to 14% in 2025, with […] -
October 22, 2020
Industry Update: Draft Code of Practice for disinformation protec [...]
Free Sample, Industry Update, ReportsA draft Code of Practice on Disinformation and an associated Discussion Paper was released by the Digital Industry Group Inc. (DIGI) on 19 October 2020 (whose membership includes Google, Facebook and Twitter). The ACCC’s ground-breaking inquiry into the dominance of digital platforms in the media industry has led to a number of new regulatory processes. The most publicised has been the advertising Code of Practice, which the ACCC has decided to make mandatory.A draft Code of Practice on Disinformation and an associated Discussion Paper was released by the Digital Industry Group Inc. (DIGI) on 19 October 2020 (whose m [...] -
October 22, 2020
nbn’s Enterprise Market Strategy: Complementary or Competitive [...]
Focus Report, ReportsPrior to nbn’s arrival in the enterprise connectivity market, Telstra held a dominant position. The market suffered from a lack of competitive investment, with high barriers to entry, a low number of competitors in the market, and a lack of pricing transparency. Contents Key Takeaways Introduction The Enterprise Fibre Market Nbn Impact on the Enterprise Fibre Market Industry Response Conclusion: […]Sector Telecom. -
October 19, 2020
Mediapro stops payments for French football: An opportunity for C [...]
Flash Report, ReportsFrance’s Ligue 1 faces an unprecedented financial crisis, dramatically illustrating the risks ahead for the European football industry. Contents It was too good to be true: Ligue 1 TV receipts will not jump 44% as it expected, compounding its COVID-induced financial distress Canal+ could step in and is in a strong bargaining position List of charts/tables Figure 1: Ligue […] -
October 15, 2020
STV: Pulling the levers for growth
Focus Report, ReportsSTV now has a clear pathway to reduce its reliance on linear advertising by investing in production, while pushing the transition to digital forward with a UK-wide footprint To that end, STV Player has some momentum and recent production company acquisitions, increasing external commissions and PSB Out of London quotas should ensure STV Studios returns to growth in 2021 Such […] -
October 15, 2020
5G iPhone: A small step for the UK mobile market
Flash Report, ReportsIt is widely expected that Apple will announce the first 5G iPhone at its event on 13 October, over a year after the UK launch of 5G networks, in contrast to Apple’s early start and key role in the launch of 4G Contents While the UK operators were early to launch 5G, the roll-out has thus far progressed slower than […] -
October 13, 2020
Apple 5G iPhone: Telstra’s opportunity for Christmas consumer c [...]
Focus Report, ReportsTelstra has recently announced (12th October 2020) that it has deployed more than 2,000 5G sites covering more than 41 per cent of Australia’s population. In addition, the telco states that it is on track to reach 75% population coverage by June 2021.Telstra has recently announced (12th October 2020) that it has deployed more than 2,000 5G sites covering more than 41 per cent of Australia’s population. In [...] -
October 9, 2020
Australian Household 5G Fixed Wireless Substitution Forecast
Focus Report, ReportsThe advent of 5G, combined with an increase in smart device penetration, has made 5G fixed wireless and mobile broadband more attractive to consumers, and this will lead to a significant growth in wireless broadband usage. As consumers rely more and more on wireless broadband (both mobile and fixed wireless) connectivity, customers may look to cut their fixed broadband connection and rely on wireless devices for broadband connectivity.The advent of 5G, combined with an increase in smart device penetration, has made 5G fixed wireless and mobile broadband more attractive to consumers, and this [...] -
October 8, 2020
Back in play: Merger prospects in UK mobile resurrected
Focus Report, ReportsWith the European Commission’s decision to block the H3G/O2 merger annulled and with new H3G management sounding a very pro-consolidation tone, the prospect of mobile operators going from four to three in the UK seems to be back on the cards Both H3G/Vodafone and H3G/O2/Virgin Media combinations seem possible although each has its own complexity—existing network sharing arrangements being one […] -
October 7, 2020
WAAAX vs FAANG : ASX Technology Live Dashboard
ReportsThis report demonstrates the relative maturity and scale of the FAANGs versus the WAAAXsThis report demonstrates the relative maturity and scale of the FAANGs versus the WAAAXs -
October 7, 2020
European TV & video subscription platforms: Recovery from lo [...]
Focus Report, ReportsWith a lack of live sport, the lockdown weighed on incumbent pay-TV platforms’ subscriptions. SVOD providers leveraged their cheap positioning—Netflix and Amazon Prime Video now rank above other subscription services in Europe, and Disney+ had a successful launch Incumbents—Sky, Canal+, Movistar+—all pursue a twin-track strategy. They are positioning themselves as gatekeepers thanks to service bundles, while redirecting resources away from […] -
October 2, 2020
Made in China- TikTok Global between a deal and the precipice
Focus Report, ReportsByteDance is rushing to sell a 20% stake in TikTok Global to Oracle and Walmart at an enterprise value of $60 billion. TikTok otherwise faces a ban in the US on 12 November, subject to legal challenges
ByteDance is rushing to sell a 20% stake in TikTok Global to Oracle and Walmart at an enterprise value of $60 billion. TikTok othe [...]