UK

Filters

Filter by

Filter by

  • New
    January 27, 2021

    CES 2021: Consumer tech show switches on to the pandemic

    ,
    The home is now a bastion of more activity than ever before, from working to entertaining to socialising—more is being demanded of the domestic space—and in 2021 the consumer tech show offered a more holistic approach to the Internet of Things (IoT), accepting a ‘new normal’ would be centred on the home, even as the effects of the pandemic recede.
    The home is now a bastion of more activity than ever before, from working to entertaining to socialising—more is being demanded of the domestic space—and in [...]
    Sector , , , .
  • New
    January 21, 2021

    Top 5 Telco Trends in 2021

    ,
    2020 was a disruptive year for everyone, including the telecommunications industry. But as a semblance of normality emerges, change in the industry continues unabated. Our top telco trends for 2021 are:  
    1. Low end operator brands seize leadership in the consumer market
    2. Telco infrastructure comes into play as operators seek to monetise assets
    3. Government refocus on regional communications as nbn rollout ends
    4. Enterprise market shift as nbn disrupts the fibre wholesale market
    5. 5G comes into its own as handset availability surges and coverage expands
     
    2020 was a disruptive year for everyone, including the telecommunications industry. But as a semblance of normality emerges, change in the industry continues un [...]
    Sector , , , , , , .
  • New
    January 21, 2021

    (UK) Update 2021: COVID-19 and Mobility

    ,
    • The UK entered 2021 in the grip of a dangerous third wave of the pandemic, despite Lockdown 3.0 over Christmas, driving down trips taken by people to depressed levels last seen in Lockdown 1.0, reducing economic activity for Q1
    • Time spent at home closely tracks the severity of lockdowns and mandates to work from home (WFH). Underpinned by the UK’s advanced digital infrastructure and services, WFH is providing resilience to Gross Value Added (GVA) creation, while staff in B2C activities are furloughed
    • The City of London is emblematic of the potential for outsourced GVA creation under WFH. Its skilled and highly paid staff are too valuable to employers to risk exposure to the virus. WFH, largely preserving GVA, will anchor the future of work
    • The UK entered 2021 in the grip of a dangerous third wave of the pandemic, despite Lockdown 3.0 over Christmas, driving do [...]
    Sector , , , , , , .
  • January 19, 2021

    (UK) TalkTalk: Mixed results, future opaque

    ,
    • TalkTalk’s latest results were mixed at best, with ARPU and revenue growth improving off a low last quarter, but net adds worsening, EBITDA falling sharply and full year EBITDA guidance suspended
    • Its outlook remains challenging, with the move to high speed still a drag on EBITDA, and the migration to ultrafast a further (even greater) challenge, although this brings opportunity as well, especially if the company can move away from its discount brand focus
    • Its prospective new owners highlight the need to invest in brand, systems, and full fibre capabilities to meet this challenge, but it is not clear where the money to do this is coming from, and it is also not clear if the desire to ‘reposition the brand’ includes a move upmarket
    • TalkTalk’s latest results were mixed at best, with ARPU and revenue growth improving off a low last quarter, but net add [...]
    Sector , , , .
  • January 15, 2021

    Roaming charges to return for some: Free EU roaming an optional e [...]

    ,
    • Lockdown 1.0 in March-April-May 2020 reduced mobility in London to 65% of its pre-pandemic baseline, swelling time spent at home. London’s mobility tracked a similar decline to Paris and New York City, all hugely reliant on public transport
    • Easing lockdowns and good weather slowly led to a mobility recovery through the summer and early autumn, but it sharply declined again after November’s Lockdown 2.0. The mobility decline was greatest in the City of London, which is more acutely affected by working from home
    • Each nation in the UK diverged slightly from September due to varying local policies adopted by England, Wales and Scotland to address their public health crises. Notably however, Lockdown 2.0 did not cause mobility to fall to the same degree as late March
    • Lockdown 1.0 in March-April-May 2020 reduced mobility in London to 65% of its pre-pandemic baseline, swelling time spent a [...]
    Sector , , , , .
  • January 14, 2021

    (UK) COVID-19 and Mobility

    ,
    • Lockdown 1.0 in March-April-May 2020 reduced mobility in London to 65% of its pre-pandemic baseline, swelling time spent at home. London’s mobility tracked a similar decline to Paris and New York City, all hugely reliant on public transport
    • Easing lockdowns and good weather slowly led to a mobility recovery through the summer and early autumn, but it sharply declined again after November’s Lockdown 2.0. The mobility decline was greatest in the City of London, which is more acutely affected by working from home
    • Each nation in the UK diverged slightly from September due to varying local policies adopted by England, Wales and Scotland to address their public health crises. Notably however, Lockdown 2.0 did not cause mobility to fall to the same degree as late March
    • Lockdown 1.0 in March-April-May 2020 reduced mobility in London to 65% of its pre-pandemic baseline, swelling time spent a [...]
    Sector , , , , , .
  • January 11, 2021

    (UK) Montgomery shakes news market again: JPI, third largest loca [...]

    ,
    The low price paid reflects the dismal prospects for print media, especially regional and local titles relative to national titles. Over the past decade, regional publications were affected at a greater rate than national counterparts by the structural decline of print circulation and advertising, resulting in significantly more closures, as well as issue frequency reductions.
    The low price paid reflects the dismal prospects for print media, especially regional and local titles relative to national titles. Over the past decade, region [...]
    Sector , , , , , .
  • January 8, 2021

    Future to buy GoCompare Diversification shifts further to ecommer [...]

    ,
    • Publisher Future paid a premium to acquire listed GoCo, the financial services comparison platform, for a cash and shares deal valued at £594 million, provided GoCo shareholders approve the deal at a vote in January
    • For Future, the purchase of GoCo gives it a platform for consumers for whom the service is free, deepens its tech stack and diversifies revenues to affiliate fees earned from ecommerce
    • Future's strategy of growth by acquisition has helped offset structural decline in the print portion of the business. The question is whether GoCo will generate sufficient returns to justify the premium paid
    • Publisher Future paid a premium to acquire listed GoCo, the financial services comparison platform, for a cash and shares deal valued at £594 milli [...]
    Sector , , , .
  • January 4, 2021

    Steady now, brighter outlook: European mobile in Q3 2020

    ,
    • Mobile growth improved very marginally to -3.6% this quarter as roaming revenues were harder hit and competitive intensity bounced back, but usage recovered from the lockdowns in Q2 and cuts to intra-EU calls were annualised
    • Italy’s fortunes took a turn for the worse as roaming hit particularly hard and Iliad resurged. After a spate of downgrades to the outlook last quarter, there were some tentative upgrades in Q3 although the tone remains cautious
    • The diminished drag from roaming is the primary positive driver from here. Although lockdowns of some degree are in place in Q4, their impact will be less severe than those in Q2
    • Mobile growth improved very marginally to -3.6% this quarter as roaming revenues were harder hit and competitive intensity [...]
    Sector , , .
  • December 16, 2020

    Brighter outlook: UK mobile market in Q3 2020

    ,
    The UK mobile market outlook is better as the COVID impact eases overall thanks to reduced roaming impact, but the November lockdown (including store closures) will drag. Having become more cautious last quarter, many of the European operators, including BT and Vodafone, have edged their EBITDA outlook up very slightly.
    • Service revenue declines stabilised at -7% this quarter with a myriad of factors at play: roaming worsening, the end of lockdown taking some pressure off, B2B a mixed bag, and the annualisation of cuts to intra-EU calls
    • Ofcom’s second 5G auction will be a focus in January. We expect selective bidding, proceeds of up to £2.7bn, and some wrangling over spectrum trading
    • The outlook is better from here as the drag from roaming eases, in contract price rises step up from the spring, Carphone Warehouse diminishes as a factor in the market, and the prospect of consolidation is still on the table
    The UK mobile market outlook is better as the COVID [...]
    Sector , , .
  • December 15, 2020

    Amazon Prime on Sky Q: Now almost fully aggregated

    ,
    Sky has agreed to host Amazon Prime Video on its platform, effective today. The Amazon app appears in the App section of Sky Q set-top-boxes, which in the UK places it alongside the existing icons of BBC iPlayer, Netflix, Discovery+, Disney+, YouTube and Spotify (it is currently third in prominence).
    Sky has agreed to host Amazon Prime Video on its platform, effective today. The Amazon app appears in the App section of Sky Q set-top-boxes, which in the UK pl [...]
    Sector , , , .
  • December 11, 2020

    Discovery+ launch An opportunity to prove essential

    ,
    Discovery has announced the global rollout of its direct-to-consumer (DTC) service, Discovery+. In the US, Discovery has a relatively straightforward story to tell: a stable of channels focused on "real life" content with a single business model—basic cable—pivoting towards DTC distribution
    Discovery has announced the global rollout of its direct-to-consumer (DTC) service, Discovery+. In the US, Discovery has a relatively straightforward story to t [...]
    Sector , , .
  • December 10, 2020

    2021 spectrum auction: Uncertainty prevails (UK)

    ,
    COVID, potential consolidation, implications for ALF pricing and non-contiguous blocks have conspired to make the forthcoming second 5G spectrum auction a highly complicated affair.
    COVID, potential consolidation, implications for ALF pricing and non-contiguous blocks have conspired to make the forthcoming second 5G spectrum auction a highl [...]
    Sector , , .
  • December 2, 2020

    Recovery…of sorts: UK broadband, telephony and pay TV trend [...]

    ,
    • Consumer broadband, telephony and pay TV market revenue growth recovered to -2% in Q3 (from -6% in Q2), with the recovery in premium sports channel revenue being partially mitigated by a worsening in backbook pricing pressure at BT
    • This is however still weaker than pre-COVID levels, with said backbooking pricing pressure affecting all operators to some extent, and intensifying as Ofcom-mandated end-of-contract notifications are rolled out, with annual best tariff notification due over the next few months
    • Consumer broadband, telephony and pay TV market revenue growth recovered to -2% in Q3 (from -6% in Q2), with the recovery in premium sports channel [...]
    Sector , , .
  • December 2, 2020

    BBC licence fee settlement : Further cuts will wound the sector

    ,
    On 10 November, Oliver Dowden, Secretary of State (SoS) for the Department for Digital, Culture, Media and Sport (DCMS) wrote to the BBC to confirm the scope and the timing of the next licence fee settlement, which will cover the period from 2022 to 2027. Previous settlements, conducted without public pressure or scrutiny, have left the BBC with more obligations and less to spend on them, at a time when licence fee income is already around 30% lower than it would have been had it kept pace with inflation and not been given additional spending obligations. In response, the Corporation has undergone extensive programmes of cost-cutting and rationalisation of resources. While this has made the BBC leaner in an operational sense, there is now little fat to absorb further cuts to income. With the commitment to fixed long-term obligations such as its pension deficit, the threat remains that there will be less to spend on local and quality content, tech, regionality, and diversity, and as such, it cannot be expected that the BBC will continue to return the same kinds and volumes of value to the wider creative economy, as it is structured for.
    On 10 November, Oliver Dowden, Secretary of State (SoS) for the Department for Digital, Culture, Media and Sport (DCMS) wrote to the BBC to confirm the scope an [...]
    Sector , , .
  • November 26, 2020

    Google search in the dock: Department of Justice targets mobile b [...]

    ,
    The US Department of Justice (DoJ) is bringing an antitrust case against Google under Section 2 of the Sherman Act, accusing it of operating an illegal monopoly for internet search and search advertising in its home market of the US. Although a monopoly by itself is not illegal in the US, Google is accused of maintaining its search monopoly by unlawful means. The case targets Google's licensing of its Android operating system and exclusionary agreements with Apple for its devices that allow Google to be the default search provider on most mobile devices in the US.
    The US Department of Justice (DoJ) is bringing an antitrust case against Google under Section 2 of the Sherman Act, accusing it of operating an illegal monopoly [...]
    Sector , .
  • November 23, 2020

    Vodafone: Bright spots and low lights

    ,
    There are some reasons to be cheerful about Vodafone right now—small nuggets of encouragement in its H1 results and the prospect of some market repair in the UK. Annual in-contract price rises of CPI + 3.9% across the UK mobile sector could provide very valuable support
    There are some reasons to be cheerful about Vodafone right now—small nuggets of encouragement in its H1 results and the prospect of some market repair in the [...]
    Sector , , , , , .
  • November 18, 2020

    ITV Q3 2020 results: Ads recovering, production may take longer

    ,

    Advertising demand has risen, with total ad revenue down just 7% in Q3, and Q4 expected to be slightly up—this means ITV will be down just over 10% across 2020.

    Advertising demand has risen, with total ad revenue down just 7% in Q3, and Q4 expected to be slightly up—this means ITV will be [...]

    Sector , , , , , .
  • November 17, 2020

    Sky UK brings group back on track

    ,
    Sky appears to have weathered the COVID-19 crisis, revealing an encouraging turnaround in its Q3 operating results, with revenue growth flat overall as each stream saw significant improvement from Q2
    Sky appears to have weathered the COVID-19 crisis, revealing an encouraging turnaround in its Q3 operating results, with revenue g [...]
    Sector , , , , .
  • November 13, 2020

    Virgin Media: Subscriber growth renaissance continues

    ,
    Virgin 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 [...]
    Sector , , , , , .
  • October 15, 2020

    STV: Pulling the levers for growth

    ,
    STV 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 […]
    Sector , , , .
  • cover 5G
    cover 5G
    October 15, 2020

    5G iPhone: A small step for the UK mobile market

    ,
    It 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 […]
    Sector , .
  • October 8, 2020

    Back in play: Merger prospects in UK mobile resurrected

    ,
    With 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 […]
    Sector , , .
  • September 17, 2020

    Mobile industry reshape continues in the UK: EE ends its relation [...]

    ,
    EE has announced the ending of its relationship with Carphone Warehouse, hot on the heels of a similar announcement from O2 a few months ago and the recent closure of Carphone Warehouse high-street stores
    EE has announced the ending of its relationship with Carphone Warehouse, hot on the heels of a similar announcement from O2 a few months ago and the recent clos [...]
    Sector , .