Sunday, September 20, 2020

Week 38 in Telecoms, Internet, Media

Corporate

  • United Internet reduces EBITDA 2020 forecast to EUR 1.18b (from EUR 1.266b in 2019) on higher MVNO costs to Telefonica DE (price increases from July 2020 & no price degression as previously) but negotiations ongoing
  • A3 offer from Bredband2
    • SEK 622m, SEK 6 cash + 8 new Bredband2 shares per share (38% premium over 200911)
    • accepted by 72%, 90% acceptance required; EGM 201016, acceptance period 201027 - 201117; to close end 2020
    • combined pro forma 450k fiber lines = 15% share
  • Inwit (TIM, Vodafone): to enter Stoxx Europe 600 index 200921
  • 3 Group Europe (CK Hutchison)
  • AT&T Shareholder update
    • focus on strategic growth: broadband (fiber, 5G), software-based entertainment (HBO Max, AT&T TV), leverage WarnerMedia’s legacy
    • to align operations to support strategy; to optimize returns of business lines that fall outside of focus areas (may lead to further monetization of non-core assets)
    • to bundle wireless services with HBO Max (to support acquisition & retention efforts, to support uptake of higher-ARPU unlimited wireless plans)
    • to add AVOD tier to HBO Max; HBO Max passed YE subs target (36m)
    • target div pay-out 60s (low end), to lower net debt
  • Verizon acquires Tracfone
    • prepaid MVNO, 21m subs, rev 2019 $8.1b, 90k retail locations, 850 employees
    • from America Movil, max $6.90b ($3.125b cash + $3.125b in VZ stock + max $650m cash earn-out), to close 21H2
  • Comcast mobile strategy: 1. MVNO on Verizon, 2. WiFi, 3. Over time own mobile network
  • Spark strategy update 2021-2023
    • focus on established (wireless, broadband, cloud) & future growth markets (IoT, digital health, sport)
    • to reduce plans from 100s to 10s, faster time-to- market (from 4 mo to on-demand), faster on-boarding partners (from 6 mo to 10 days)
    • targets 2023: rev growth, cost reduc NZD 40-50m over 3 yr, customer care interactions -20%, 90% of subs off-copper (to fiber or wireless)
    • removes data cap for FWA over 4G
  • ViacomCBS sells CNET Media Group (CNET, GameSpot, Metacritic, TVGuide.com, Chowhound, Roadshow, ZDNet) to Red Venures, $500m, to close 20Q4
  • Warner Music acquires HipHopDX (news, reviews, commentary website; also on Facebook, Instagram, Twitter, YouTube)
  • Bytedance POTUS Trump approves deal with Oracle
    • To establish TikTok Global as US company, Oracle acquires 12.5%, Walmart 7.5%, Oracle to become TikTok's cloud provider, to hire 25k, to establish $5b education fund (Bytedance denies), from taxes to be paid
    • Bytedance retains 80% of TikTok and control over AI tech powering receommendations
    • TikTok plans IPO in US within 1 yr
    • US delays dowload ban TikTok to 200927, Bytedance sues to block ban
    • District Court SF halts WeChat ban (undermines free speech rights)
  • Mediahuis acquires NDC Mediagroep (600 employees; Leeuwarder Courant, Friesch Dagblad, Dagblad van het Noorden, 7 other newspapers, 40 weekly's
  • EQT acquires Casa.it: real estate classifieds platforms, to close Dec 2020; with this EQT IX 10-15% invested
  • Unity
  • Snowflake
    • IPO price $120; first trade $245, close $253.93
    • Sutter Hill Ventures owned 50m shares (17.4%), Altimeter Capital 36m shares, ICONIQ Capital 34m shares (14%), Redpoint Ventures 22m shares (9%), Sequoia Capital 21m shares (8.6%)


Branding


Networks

  • Google Fiber plans 2 Gb/s trial in Nashville & Huntsville Oct 2020 (later in all 19 cities), 100 $/mo (incl WiFi 6 router)
  • Altitude to raise >EUR 500m in equity & debt 20Q4, to invest EUR 2.5b in fiber in FR in 3 yr    
  • Telenet considers XGS-PON in case >2.5 Gb/s is needed
  • Ookla Speedtest Global Index (Aug 20): global average FBB 84/44 Mb/s, MBB 35/11 Mb/s; FBB: Sing #1 (218 Mb/s), HK #2 (206), Romania #3 (175), Thailand #4 (173), CH #5 (171), NL #25 (120); MBB: SK #1 (113), China #2 (111), UAE #3 (111), Qatar #4 (88), China #3 (105), KSA #5 (78), NL #6 (75) 
  • PTS (SE) adds SEK 1.40b to BB subsidies  
  • 5G: 
    • Zain KSA expands to Qurayyat, Ras Tanura, Tabarjal; total 38 cities
    • DISH orders cloud-native core network for SA 5G from Nokia - FCC relaxes deadline for build-out to mid 2023
    • Telefonica ES to expand 5G (3.5 GHz & mmWave) to Abanca-Riazor stadium in A Coruña (home of the Real Club Deportivo football team): live broadcasting of sporting events with automatic production based on edge computing & AI; KissCams, heat maps through AR; multi-camera TV), with cinfo, Ericsson; with occasional 3.5 GHz spectrum leasing from Vodafone ES
    • SmarTone (HK) launches FWA over 5G (Home 5G Broadband Service)
    • EU launches FUDGE-5G (Fully Disintegrated Private Networks for 5G Verticals) innovation initiative for Industry 4.0, Private 5G
    • O2 UK expands 5G to Tyne & Wear, Surrey, Lincoln
    • Verizon trials in-building 5G mmWave solutions from Samsung (small cell), Corning (composite fiber: fiber for data transmission and copper for powering, in one cable) with MEC for hospitals, manufacturing facilities, warehouses, schools, ports, retail stores etc; to support Private 5G
    • Telefonica partners with Rakuten on Open RAN
    • Elisa launches 5G in city #39: Rovaniemi
    • US Cellular demos  extended range 5G NR mmWave, with Ericsson, Qualcomm: >100 Mb/s at >5 km; enables FWA
  • 6G: Radiall paper proposes massive modular 6G mesh networks with tiny antennas
  • DAB: Media Broadcast (= Freenet) plans 2nd DAB+ network (16 channels) in DE via Antennae Deutschland (JV with Absolut Digital): 71 locations, 83% pops coverage (67m), 49m HH (61%), 85% of freeways, broadcasting to start Oct 2020

Media: video


Media: music

  • Spotify partners with Songkick (= Warner Music Group) & Ticketmaster to add virtual event listings    
  • Amazon Music adds podcasts in US, UK, DE, Japan (no additional cost, on all tiers, on all devices) with originals from DJ Khaled, Becky G, Will Smith, Dan Patrick, et al
  • Google Nest integrates RadioApp (Commercial Radio Australia)
  • Facebook: Music licensing deals (with Universal Music Group, Warner Music Group, Sony Music Entertainment, Kobalt Music Group, BMG publishing, Merlin) for Facebook Gaming


Other services

  • VoIP: Telekom DE launches NIMS (Next Generation IP Multimedia Subsystem) platform: cloudification of fixed telephony (18m lines)
  • IPTV
    • Vodafone RO launches Vodafone TV
    • Bouygues orders Google Ad Manager platform (first in Europe) for addressable TV advertising service - Google Ad Manager launches Dynamic Ad Insertion (DAI): insert ads into live events


Hardware, CPE

  • Google
    • Plans hardware event 200930 to launch Pixel 5 (5G), Pixel 4A (5G), new Chromecast (Chromecast with Google TV, $50, Project Sabrina), new smart speaker
    • Launches Google Series One meeting room kits (touchscreen controller, mic pods, 2 cameras, compute unit, soundbar) for Google Meet (for businesses), from $2700; made by Lenovo
  • Facebook Connect
    • Launches Oculus Quest 2, $300 (64 GB) or $400 (256 GB): standalone, 90 MHz refresh rate; to discontinue Oculus Rift Sspring 2021
    • Adds games & apps for Oculus; launches Oculus Move for Quest: fitness tracker; launches Oculus Link (for Quest) out of beta: to play Rift games on standalone Quest; plans Infinite Office for Quest: virtual office space, with Spatial for virtual meetings
    • Plans smart glasses (Project Aria) 2021 for AR, with EssilorLuxottica (brand Ray-Ban); Facebook Messenger and Portal to suppport AR from 2021 (incl 3rd-party through Spark AR Studio); partners with NYT (AR filters & effects on Instagram) and Smithsonian for AR projects
    • Demos Facebook Horizon (closed beta): metaverse (social VR)
  • Apple event Time Flies
    • Launches 2 new iPads (new iPad Air from $600, with new) Apple Pencil, $130; new iPad gen 8, $330)
    • 2 new Apple Watches (Series 6; with sensor to measure oxygen level and altimeter and U1 locator chip and Family Setup; Series SE from $280; incl 3 mo free Apple Fitness+)
    • New Fitness+ service (workout classes; app for Apple Watch and iPhone; 10 $/mo or 80 $/yr
    • Apple One bundles (Individual: Apple Music, Apple TV+, Apple Arcade, iCloud storage (50GB) for 15 $/mo; Family: same but 200 GB storage, 20 $/mo for max 6 members, Premier: Apple Music, Apple TV+, Apple Arcade, 2TB of iCloud storage, Apple News+, Apple Fitness+ for 30 $/mo for max 6 family members)
    • New A14 Bionic processor (first in new iPad Air, in future for iPhone 12)
    • New iOS 14, iPadOS 14, watchOS 7, tvOS 14 - Spotify objects to Apple One on antitrust grounds (favors Apple Music)
  • Sony to launch PS 5 ($500, EUR 500, GBP 450, JPY 50k) & PS 5 Digital Edition ($400, EUR 400, GBP 360, JPY 40k) 201112
  • 5G


Regulatory

  • Net neutrality: EU CoJ: zero-rating violates NN regulations
  • Spectrum
    • RTR (AT) ends 5G auction, EUR 202m; Magenta EUR 87m for 90 MHz (2x20 in 700, 20 (+ 10) in 1500, 2x15 in 2100), A1 EUR 66m for 80 MHz (30 in 1500, 2x25 in 2100), 3 AT EUR 50m for 90 MHz (2x10 in 700, 30 in 1500, 2x20 in 2100); 1702 of 2100 communities to be covered by 2027 (Magenta 615, 3 AT 739, A1 349)
    • TRA (UAE) designates 26 GHz spectrum (24.25-27.50) for 5G; to award 1 GHz Sep 2020, more 21Q3

  • Facebook: rumor: FTC plans antitrust suit by end 2020 over dominance in social media (related to relations with app developers and past acquisitions of Instagram & WhatsApp)
  • Self-regulation
    • Facebook launches hub to battle fake news about climate change
    • Twitter: launches info hub to battle misinformation around US presidential elections 2020


at 11:54 am
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