Monday, June 21, 2021

Week 24 in Telecoms, Internet, Media

CORPORATE

  • Deutsche Telekom: Moody's raises outlook (rating Baa1) from negative to stable based on improved performance in DE & US, commitment to reduce leverage to 3x by 2024 (from 3.8)
  • Vodafone
    • Vodafone Technology (established April 2021) Briefing: 1. Demand accelerates (cloudification of communications, proliferation in devices & services across IoT, cloud, media streaming, cloud gaming, big data, low latency connectivity), 2. Roadmap (51m self-built gigabit HP & 60% 5G pops coverage by 230331; HFC, cloud-native digital architecture & advanced analytics to drive efficiency, speed, reliability, network automation 80% of incidents (zero-touch), lead times redux 50%), 3. Capital allocation (forensic approach, mid-term ambition of RoC > WACC, shared operations model), 4. Transforming (most efficient & simplified operator, shared platform approach)
    • Moody's raises outlook (Baa2) from negative to stable
  • Vivendi
  • Warner Music Group: Acquires David Guetta's song catalog, $100-150m
  • Hipgnosis: To raise GBP 150m from equity issue (123.97m new shares at GBP 1.21)
  • Accenture: Acquires Umlaut (mobile network measurements; 4200 employees in 17 countries)
  • Sprinklr: Plans IPO on NYSE, symbol CXM, range $18-20, to offer 19m shares, valuation $5b

NETWORKS

  • BROADBAND
    • Ookla Speedtest Global Index (May 21): global average FBB 105/56 Mb/s, MBB 55/13 Mb/s; FBB: HK #1 (245), Singapore #2 (243), Monaco #3 (224), S Korea #4 (217), Thai #5 (214), NL #25 (157); MBB: UAE #1 (194), S Korea #2 (193), Qatar #3 (180), KSA #4 (160), China #5 (153), NL #12 (103)
    • Economist Intelligence Unit for Ericsson report: connecting schools boosts GBP by max 20% in least connected nations
    • Gvt ES establishes EUR 250m BB fund (Programa de Universalizacion de Infraestructuras Digitales para la Cohesion, Programa UNICO) for 100% coverage by 2025
    • US Gvt launches BB mapping tool (tIndicators of Broadband Need) at broadbandusa.maps.arcgis.com
  • SECURITY
  • FTTH
    • Deutsche Telekom
      • Telekom DE partners with M-net (= Stadtwerke Munchen (SWM)) for access to fiber (600k HP = 70%); to invest EUR 500m by 2030 in Munchen fiber & 5G
      • Reuters: plans FTTP JV for 4m lines in DE with investors taking max 50%, targets APG, PGGM, Brookfield, CDPQ; to speed up sale of T-Mobile NL, expects offers by end July 2021, to raise EUR 5b, candidates KKR, EQT, Warburg Pincus, Xavier Niel
    • Orange BE: plans OA FTTP network in Evere & Ixelles (Brussels), pilot of 15k lines; allows unbundling, PON & AON tech
    • Kabelnoord targets white areas only in Friesland (Waadhoeke, Harlingen, Leeuwarden, Tytsjerksteradiel, Achtkarspelen, Noardeast-Fryslân, Opsterland, Smallingerland, Oost- en Weststellingwerf), not grey (ie no Ziggo overbuild) - KPN plans FTTP in Friesland from autumn 2021 in grey areas only (Baard, Bears, Britsum, Koarnjum, Easterlittens, Feinsum, Hijum, Hilaard, Húns, Idaerd, Jirnsum, Jelsum, Jorwert, Lekkum, Mantgum, Alde Leije, Reduzum, Wergea, Warten, Weidum, Wytgaard, Wirdum, Grou, Stiens)
  • OPEN RAN
    • Vodafone selects vendors for Open RAN network: Samsung (reference RAN software, Massive MIMO), Dell (CotS servers), NEC (radio units, Massive MIMO), Wind River (Containers as a Service (CaaS) software Wind River Studio), Capgemini Engineering (interworking), Keysight Technologies (test solution); "Our network will become highly programmable and automated meaning we can release new features simultaneously across multiple sites, add or direct capacity more quickly, resolve outages instantly and provide businesses with on-demand connectivity."
    • MTN plans transition to Open RAN, with  Altiostar, Mavenir, Parallel Wireless, TechMahindra, Voyage
  • 5G
    • Ericsson Mobility Report: 5G will become the fastest adopted mobile generation (>580m subs YE 2021E, 3.5b in 2026); global mobile data traffic (excl FWA) 49 EB/mo (end 2020; +46% yoy, +13% qoq), 66 EB/mo in 21Q1, 237 EB/mo in 2026E; average usage to grow from 10 to 35 GB/mo/smartphone by YE 2026; <90% of operators having launched 5G offer FWA (4G & 5G), 72% of all operators; FWA traffic x7 to 64 EB/mo in 2026 (20% of global mobile data traffic), total FWA connections 180m in 2026E; IoT connections 330m YE 2021 (+80%); 4 feature articles: T-Mobile multiband strategy for 5G), business 5G built on Wireless WAN, AI for customer experience in 5G, in-building 5G
    • Telemach (Slovenia; = United Group) launches 5G (3.5 GHz) in Ljubljana
    • Leica launches Leitz Phone 1 in Japan (based on Sharp Aquos R6, with Leica lens, 6.6 inch, 5G
    • T-Mobile US 5G strategy: 2.5 GHz band (Sprint subs to be migrated to T-Mo; Ultra-Capacity 5G; coverage 140m pops, target 200m YE 2021, 300m YE 2023), 600 MHz band for Extended-range 5G (coverage 295m pops); to decommission 35 Sprint sites by YE 2022; LT targets (at 5G completion, 2025): 80-85k macro sites, 50k small cells
  • 6G
    • Samsing (with University of California in Santa Barbara) demos Terhertz (140 GHz band) for 6G (6.2 Gb/s at 15 meters)

SERVICES

  • TV
    • Google Fiber expands Chromecast with Google TV (OTT-TV, UHD, personal recommendations, search) offer to all subs (to replace Fiber TV box, free) - Google TV (UI) integration in Android TV (OS) leads to double usage; 3rd-party devics to have Google TV (incl Android TV)
  • VIDEO
  • MUSIC/AUDIO/PODCAST/RADIO
    • Spotify
      • Content deal for podcast Call Her Daddy (Alex Cooper) from 210721, exclusive, multi-yr - Rumored value >$60m
      • Launches Spotify Greenroom mobile app: join or host live audio rooms, optionally turn those conversations into podcasts [a la Clubhouse], tech from Betty Labs [see 210330]
      • Acquires Podz (podcast discovery platform)
  • GAMES
  • UGC
  • E-COMMERCE
    • Amazon Business publishes 2021 B2B E-commerce in Evolution Report (survey US), key takeaways: pandemic accelerated digital transformation, online features significantly outrank traditional ones in buyers’ purchasing decision processes, social and environmental considerations are playing a larger role in the procurement process
    • Picnic: Building automated distr center in Ridderkerk (42k m^2), to open 2024 (automated distr center Utrecht to open end 2021, EUR 100-150m); Edeka expanded stake; 650k customers in 125 towns NL
    • Parcel2Go: Sells majority to EQT Private Equity
  • NFT
    • Fox Corp: Establishes Blockchain Creative Labs: $100m creative fund (build, launch, manage, sell NFT content & experiences & fungible tokens, digital goods, assets), partners with Bento Box Entertainment

REGULATORY

  • Spain plans 0.9% sales tax on streaming video (replacing telcos) to fund pubcaster RTVE
  • LinkedIn (Microsoft): SCOTUS overrules lower court in case against hiQ Labs, sends back to Court of Appeals: may block access (based on Computer Fraud and Abuse Act) for scraping public personal data (hiQ claims anti-competitive conduct from LinkedIn)
  • Airbnb: Bloomberg: safety team (~100 members, 50m $/yr) deals with incidents
  • Reuters: EC plans antitrust investigation of ad tech business by end 2021 
  • Platforms
    • BEREC report Analysing EU consumer perceptions and behaviour on digital platforms for communication (17 primarily free & consumer platforms: Whatsapp, Facetime, Snapchat, Skype, Facebook Messenger, Facebook, Youtube, Twitter, Tiktok, Pinterest, Discord, Reddit, Tumblr, (Flickr,) Telegram, WeChat, Viber, iMessage; survey of 12k in 12 countries)
    • CMA (UK) starts investigation of Apple/Google mobile ecosystem duopoly (incl iOS/Android, App Staore/Google Play Store, Safari/Chrome); consultation until 210726, final report within 12 mo
    • POTUS Biden appoints Lina Khan Chair of FTC until 240925
    • EU, US to establish joint Trade & Technology Council
    • Russia to force US tech companies (>500k DAU) to open office in Russia by Jan 2022


at 9:30 am
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