Showing posts with label Altice. Show all posts
Showing posts with label Altice. Show all posts

Monday, October 17, 2022

Vodafone selects Altice for open access fiber joint venture

Vodafone selects Altice for open access fiber joint venture (instead of KKR, Brookfield or Deutsche Glasfaser/EQT).

  • Vodafone DE to establish 50/50 JV FibreCo 23H1 with Altice
  • To develop 7m FTTH lines (o/w 80% to housing ass in existing HFC footprint, 20% to neighbouring homes outside current footprint) in 6 yr
  • Total investment EUR 7b o/w 70% debt financed
  • Currently offering 1 Gb/s to >24m homes (incl wholesale on Telekom, ...); to complement node splitiing, Docsis 3.1 (high splitting, max 3 Gb/s), Docsis 4.0
  • Open for wholesale (Vodafone DE anchor tenant without minimum revenue or volume commitment)
  • Construction & maintenance by Geodesia (= Altice)
  • Vodafone DE to receive max EUR 1.2b cash (o/w 120m upfront at closing JV, 487m deferred during roll-out, earn-out max 595m)
Current JV's in Germany:



at 9:19 am 0 comments
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Saturday, February 06, 2021

Week 5 in Telecoms, Internet, Media

Corporate

  • Telefonica: Moody's rates Telefonica Europe's hybrid debt (deeply subordinated, guaranteed fixed rate reset securities, fully and unconditionally guaranteed by Telefonica on a subordinated basis) Ba2, outlook stable - Issues first green hybrid bond, raises EUR 1b
  • Rumor: Vodafone ES plans InfraCo with Orange ES to pool towers (as alternative to MasMovil merger) - Rumor: MasMovil plans merger - To include ES & PT
  • Altice Europe: To sell 50.01% Hivory (10500 towers) stake to Cellnex at EV 100% EUR 5.2b; to add 2500 sites over 8 yr for EUR 900m [build-to-suit]; to close 21H2; SFR to remain anchor tenant under 18 yr lease (renewable in 5 yr periods); Starlight Holdco (49.01%) also sells stake to Cellnex; Cellnex total portfolio up to 120k sites in Europe
  • Delta Fiber (= EQT; currently 800k premises, target 1m end 2021) acquires Rekam (>50k lines), excludes RekamGlasDraad JV (Rekam & GlasDraad (= TINC, Mabin))
  • Shell Energy: Acquires 450k BB subs from Post Office
  • Box: Acquires SignRequest (NL), $55m: cloud-based electronic signature tool, can be integrated with many enterprise tools, to be relaunched as Box Sign summer 2021
  • Vivino: Raises $155m
  • RTL: Sells SpotX to Magnite, $1.17b (EUR 977m EV) in cash ($560m = EUR 468m) & stock (14.0m shares); to close 21Q2l acquired SpotX in 2014 (65% for EUR 107m) & 2017 (35% for EUR 123m); to focus on European ad tech via Smartclip and Yospace
  • BBC: Publishes report BBC Value for Audiences: funding freeze since 2010 reduced effective real-terms income by 30%, average 5m users at any given moment, 45m DAU

Earnings

  • BT: 20/21Q3; maintains outlook 20/21: EBITDA GBP 7.3-7.5b, FCF GBP 1.3-1.5b (narrowed); 5G reaches 125 towns, 790k FTTP subs; Strategic Pillars: 1. build the strongest foundations , 2. create standout customer experiences, 3. lead the way to a bright, sustainable future; Ultrafast BB (>100 Mb/s) reaches 6.88m premises o/w 4.05m FTTP, current FTTP rate 42k premises/week
  • Swisscom: 20Q4; plans cost savings 2021 CHF 100m (on operational business), 2022 CHF 100m (on digital transformation); outlook 2021: rev flat CHF 11.1b (8.5 in CH, 2.4 in IT), EBITDA slightly down CHF 4.3b (3.4 in CH, 0.8 in IT), capex slightly up CHF 2.3b (1.6 in CH, 0.6 in IT), div CHF 22; broadband coverage targets: 80 Mb/s for 90%, 10 Gb/s for 39% YE 2021; 300-500 Mb/s for 90%, 10 Gb/s for 60% YE 2025; 5G coverage targets: 99% YE 2021 (with 5G+ forced expansion), 99% YE 2025 (with nationwide 5G+)
  • Orange BE: 20Q4, div 50c; outlook 2021: rev growth LSD, EBITDA AL EUR 320-340m, capex 200-220m
  • Vodafone: 20/21Q3; maintains 20/21 guidance
  • Telenor: 20Q4
  • DNA: 20Q4
  • Tele2: 20Q4
  • Alphabet: 20Q4; to extend useful life of equipment (servers from 3 to 4 yr, network equipment from 3 to 5 yr) from 2021, positive impact oper result 2021 $2.1b
  • Amazon: 20Q4; guidance 21Q1: net rev $100.0-106.0b (growth 33-40%), oper income $3.0-6.5b (incl $2.0b corona virus related costs); CEO Jeff Bezos to step down to and become Executive Chair 21Q3, Andy Jassy (AWS) to become CEO, Bezos to focus on Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post; to invest $2.5b in HQ2 in Arlington (Virgoinia) over 10 yr for 25k employees
  • Snap: 20Q4, Spotlight reached >100m MAU; guidance 21Q1: rev $720-740m, adj EBITDA loss 50-70m
  • Pinterest: 20Q4; guidance 21Q1: rev growth low 70s'priorities for 2021: the Pinner experience, advertiser success, shopping; plans int expansion
  • Spotify: 20Q4 - ESOP (31.9m shares at $322.11 = $10.3m) - CEO Daniel Ek 32,773,691 votes = 17.2% (same for DGE Holding, DGE Investments) -  Martin Lorentzon 21,176,660 votes = 11.1% - Holds 282,830,698 shares = 21.1% of Tencent Music Entertainment

Networks

  • FTTH
  • 5G
    • Lufthansa deploys 2 Private SA 5G networks at Hamburg site (3.7-3.8 GHz): 1 from Vodafone DE, 1 from Nokia; latency 7ms and 16 ms; Lufthansa manages both
    • NTT, AIS, Fujitsu, NEC, Activio, AGC, Exeo Asia, Loxley, Mobile Innovation establish 5G Global Enterprise Solution Consortium (5GEC) for APAC (first for Thailand): Private 5G (mgt services)
    • Chuan Chih develops terminal simulation systems & 5G vertical applications to help companies accelerate efforts to develop, build, operate & maintain 5G private networks
    • Cyta (Cytamobile-Vodafone) launches 5G with 70% pops coverage (target 98% in 12 mo), no extra cost
    • DISH orders access to towers, rooftops, utility transmission structures, billboards, convenience stores & other sites used for wireless infrastructure deployment from Vertical Bridge REIT
    • PwC report (Powering Your Tomorrow): 5G adoption to boost global economy by USD 1.3t by 2030
    • BCG for CTIA report: 5G to add $1.5t to GDP and 4.5m jobs in US over 10 yr
  • FWA
    • Voneus (Macquarie) launches FWA in Ouston and Perkinsville (County Durham), 30-50 Mb/s
  • LEO
    • Starlink (SpaceX) plans phone service; reaches 10k users of beta BB service

Services

  • B2B
  • Smart City
  • Video
    • Netflix: Raises prices in Japan, Basic/Standard/Premium from 880/1320/1980 to 990/1490/1980 JPY/mo Rumor: BBC, ITV, Channel 4, Channel 5 plan AVOD service for live & catch-up TV
    • NAACP Image Awards nominations (winners 210327)L Netflix 14, Amazon 3
    • Golden Globes 2021 nominations (winners 210228): Netflix 20, Amazon 3 in TV; Netflix 22, Amazon 7 in movies
    • Writers Guild 2021 nominations: Netflix 10, Amazon 3
    • Screen Actors Guild Awards 2021 nominations (winners 210404)

  • Music
    • Sony: SME acquires AWAL(recorded music) & Kobalt Neighbouring Rights from Kobalt, $430m [Kobalt Music Group continues Kobalt Music Publishing, publishing collection society AMRA and Kobalt Capital]
    • Round Hill: Acquires 18k songs from Round Hill Fund One, $282m (incl The Beatles, The Rolling Stones, Otis Redding, John Lee Hooker, Pat Boone, Ricky Nelson etc); to acquire 29% stake in set of 100k songs formerly of Carlin
    • Hipgnosis: Raises GBP 75m equity from Morgan Stanley & existing shareholders
    • The Music Acquisition Corp: IPO on NYSE, ticker TMAC.U, IPO rpice $10, via SPAC
    • SoundCloud: Rumor: plans service allowing users to pay creators directly; currently 175m MAU

  • Hardware
    • Apple: Rumor: to partner with Hyundai and PSA on electric cars - Rumor: to order Kia (= Hyuandai) to produce electric cars, $3.6b, to produce 100k EV cars/yr in Georgia by 2024 - Hyundai denies
    • Google: Partners with Ford, 6 yr from 2023: GCP, Android (incl apps: Assistant, Maps, etc) to be built into cars, establish Team Upshift to transform Ford
    • Xiaomi launches smartphone with 'quad-curved waterfall display'

Regulatory

  • CRC (Bulgaria) plans 3.6 GHz auction 210303, 3 blocks of 100 MHz; valid 20 yr, starting price $2.5m, submission by 210225
  • Ofcom (UK) proposes one-touch process for switching ISP
  • EC: nat roaming prices from Telefonica DE for 1&1 Drillisch not compliant with E-Plus acquisition conditions; Telefonica DE submits new rates, to be accepted by 1&1 Drillisch by 210219 (to increase earnings by EUR 30m in 2020)


at 11:35 pm 0 comments
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Sunday, December 20, 2020

Week 51 in Telecoms, Internet, Media

Corporate

Networks

General

  • Eur Council & EP approve EC's Horizon Europe fund, EUR 95.5b until 2027 (follow-up to Horizon 2020)
  • Ookla Speedtest Global Index (Nov 20)
    • global average FBB 92/49 Mb/s, MBB 46/13 Mb/s
    • FBB: Sing #1 (241 Mb/s), HK #2 (223), Thailiand #3 (213), Monaco #4 (207), NL #26 (134)
    • MBB: UAE #1 (170), SK #2 (167), Qatar #3 (160), China #4 (148), Australia #5 (113), NL #7 (100)

FTTH

5G
  • Environmental
    • Haut Conceil pour le Climat (FR) report (Maitriser l’impact carbone de la 5G): 5G to lead to sharp increase in power consumption and greenhouse gas emissions; additional carbon emissions from data centres and device manufacturing
  • Security
  • Technology
    • 3GPP delays Release 17 (SA NR 5G, ultra-low latency, MIMO support, RAN slicing, integrated access & backhaul, MBS positioning, multicast & broadcast, multi-SIM support, etc) by 6 mo to mid 2022: stage 2 functional freeze June 2021, stage 3 protocol freeze March 2022, coding freeze June 2022; to decide on Release 18 roadmap by end 2022  
    • Samsung demos 305 Gb/s over 5G SA Core per server, with Intel  
    • Swisscom trials CA and VoNR on SA 5G, with Ericsson, OPPO, over SA 5G  
  • Launches
    • Free (Iliad) launches 5G in 700 MHz & 3.5 GHz bands (70 MHz) with smartphones at 5255 sites (pops coverage <40%; all sites for 700 band, 220 for 3.5 band) in FR, no extra cost for Free Mobile Plan subs; Free Unlimited 5G 10 EUR/mo for Freebox Pop subs, 16 for other Freebox subs; extra SIM 150 GB/mo for 20 EUR/mo for mobile-only subs; uses mainly European equipment  
    • Linkem launches 5G FWA (coop with Fastweb) in 3 towns (Modugno, Grottaglie, Avellino), target 50 YE 2020, 500 YE 2021, 2000 YE 2023; max 1 Gb/s  
    • Fastweb (Swisscom) launches 5G (26 GHz) in 50 cities (part of NeXXt Generation 2025 plan) as UltraFWA network, max 1 Gb/s, no caps; target 500 cities by 2021, 2000 by 2024; total coverage 2024E 8m HP in grey areas, 4m in white areasl CPE based on Qualcomm X55; to launch mobile 5G service 201227 in Milan, Bologna, Rome, Naples, target 90% pops coverage 2025 (to be included FWA at no extra cost)  
    • Vidéotron launches 5G (600, 700 MHz; 2.6 GHz) in Montreal, with Samsung (RAN)  
    • 3 Denmark (= Hi3G Access = 3 Group Europe = CK Hutchison 60%; Investor AB 40%) launches 5G in Copenhagen & Roskilde (425k covered subs o/w 15k have 5G smartphone), with 14 smartphones; no price premium; real speeds 25-345 Mb/s down, 23-38 Mb/s up; targets nationwide coverage summer 2022  
    • Wind Hellas launches 5G in Athens, Thessaloniki; target 60% pops coverage after 3 yr 
    • Cosmote launches 5G in Athens, Thessaloniki, other cities, with Ericsson; no price premium
    • Proximus launches 5G in 3.6-3.8 GHz band (based on temporary license)  
  • Applications
    • Vodafone DE trials 5G for broadcast pre-production at football stadium, with Sky DE  
    • AT&T demos 3D AR concert over 5G, with Ericsson, Songland (= NBC); spectators place 3D version at home and interact  
    • Telia FI launches FWA over 5G; max 400 Mb/s for 40 EUR/mo, max 1 Gb/s for 45 EUR/mo, installation fee EUR 500  
    • Aerospace & Saab launch Private 5G at plant in Linköping (SE), with Combitech, Vinnergi (SI), Nokia; spectrum subleased from Edzkom (formerly Ukkoverkot) & 3 Sweden (50 MHz in 2.6 GHz band)  
    • Chunghwa Telecom launches Private 5G at AES Group factory in Kaohsiung (to add 7 factories in 2021)  
LEO
  • Project Kuiper (Amazon; LEO) demos user terminal prototype (phased array antenna), smaller & cheaper than standard sat equipment; 400 Mb/s and 4K video with GEO  
  • SpaceX to raise funds  
  • AST SpaceMobile plans equatorial sat network (no expensive specialized satellite phones or ground antenna systems required, 4G and 5G phones suffice; to serve 49 countries, 1.6b pops), 1.6b covered pops; plans first launch of 20 sats, target 100 after 2 yr, 233 by 2027; targets 9m subs YE 2023, ARPU for SpaceMobile ~$1; targets 2023: rev $181m, EBITDA $130m; targets 2027: rev $9.7b, EBITDA $9.6b; supported by Vodafone/Vodacom and AT&T as wholesale customers (50/50 rev share); plans IPO via SPAC (symbol ASTS)  
  • OneWeb launches 36 sats; to raise $400m; target total 650 LEO sats 

Services

Retail, hardware
  • Sunrise: Launches XPLORA X5 Play eSIM: smartwatch for kids (voice calls, voice messages, SOS button, GPS for tracking, no internet), CHF 12.25 for We Connect subs (17.25 CHF/mo in 24 mo contract)
  • Telenet Business launches Tellie platform for care institutions: video calling from TV
Wholesale
Music
Video
Web services

Regulation

Telecoms

  • AGCom (IT) starts antitrust investigation against Sky IT
  • Spectrum
    • EETT (GR) launches multiband (700 MHz, 2 GHz, 3-4-3.8 GHz, 26 GHz) auction 201216, expected to raise EUR 367m - Raises EUR 372m after 6 rounds; Cosmote 123m for 2 700MHz blocks (51m), 4 2GHz blocks (35m), 15 3.5GHz blocks (31m), 2 26GHz blocks (6.5m); Vodafone 130m for 2 700MHz blocks (51m), 4 2GHz blocks (35m), 14 3.5GHz blocks (38m), 2 26GHz blocks (6.5m); Wind 119m for 2 700MHz blocks (50m), 4 2GHz blocks (35m), 10 3.5GHz blocks (30m), 1 26GHz block (3.3m)  
    • Appeals Court Sweden allows PTS to conduct auction - To start 210119  
    • MinEZK (NL) plans 3.5 GHz (3450-3750) auction 22Q1, to be available 220901, consultation 21Q1; goals: realistic chances for all candidates, realistic proceeds, simple & transparent auction model; auction model to be proposed by DotEcon; auction rules to be published 21H1, applications from 21H2 

Google

  • DoJ antitrust trial to start 230912, next staus hearing 210121 [see 200827]
  • 10 US state AGs (all Republican, led by Texas AG) start antitrust lawsuit against Google (colluding with Facebook) over monopoly in Search (redesign disadvantaged specialised (vertical) search engines, such as Amazon, TripAdvisor, Yelp, Angie's List; as Google prioritises own results) & online ads, co-conspired with Facebook to rig ad auctions and fix prices - Google denies, points to falling ad and ad-tech prices
  • Antitrust lawsuit by AGs (bipartisan) from 35 US states, DC, Guam, Puerto Rico related to Search & Search Advertising (violating Sherman Act, self-reinforcing, limiting consumer options), requires design changes - Google opposes (redesign 'to prominently feature online middlemen in place of direct connections to businesses')
  • Rejects ACCC's News Media & Digital Platforms Mandatory Bargaining Code as unworkable ("Google to pay to show links in an unprecedented intervention that would fundamentally break how search engines work", no website or search engine paid to connect people to other websites), proposes News Showcase as alternative
  • 4 Private publishers file 2 antitrust lawsuits (1 by Sweepstakes Today, 1 by Genius Media Group, The Nation, The Progressive) over digital ad sales 
Platforms
  • FTC orders Amazon, Facebook, WhatsApp, YouTube, Discord, ByteDance, Reddit, Snap, Twitter to reveal data collection policies, to respond in 45 days [in relation to tracking, personal info, privacy, kids, ads]
  • EC launches
    • DSA (Digital Services Act; e-commerce; remove illegal goods, transparency on algorithms & other recommendation engines; each acuisition to be reported; max fines 6% of annual global turnover)
    • DMA (Digital Markets Act; gatekeepers based on size (active in >= 3 states, annual rev >$6.5b, market value >EUR 65b, >45m MAU, >10k annual business customers), role, duration; may not use data from 3rd-party sellers, may not block users & businesses from using competitors, may not favor own services in rankings; fines max 10% of global turnover; systematic non-compliance may result in behavioral orders, forced divestments or breakups); national Digital Services Coordinator to monitor every 6 mo; to be negotiated with member states & EP - BEREC supports (ex-ante regulatory framework)
  • Facebook opposes Apple's iOS 14 (to show App Tracking Transparency (ATT) prompt from early 2021, limits data sharing, requires users' consent, reuqires opt-in for tracking), prepares advertisers
  • Facebook supports Epic Games in complaint against Apple's App Store policies - Judge orders Tim Cook & Craig Federighi (both Apple) to testify

at 9:11 pm 0 comments
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Sunday, December 13, 2020

Week 50 in Telecoms, Internet, Media

Corporate

  • Telefonica: Rumor: may sell Movistar Uruguay to Telecom Argentina
  • BT: Sells 2 BT Italy units (serving Public Administration and SME) to TIM, completing Phase 1 of transformation (sold units in FR, DE, NL, ES, China, Singapore, 15 Latam countries); Phase 2 to focus on growth    
  • MasMovil (KKR, Cinven, Providence): Rumor: offers EUR 90m for Ahimas (Ahi+) (wants EUR 170m)
  • Altice Europe: Lucerne Capital files petition at Amsterdam Court of Appeal asking for inquiry into corporate governance; asks for appointment of 3 independent non-executive directors to the board, prohibit EGM 210107; hearing 201223
  • Belgium
    • Orange BE: Polygon European Equity Opportunity Master Fund (holds 5.29%) opposes Orange offer 'derisory', wants 39.50-47.25 EUR/share; Orange BE owns 3100 towers at 300k EUR/tower (sale of 66% could raise EUR 600m)
    • Cegeka: Acquires majority of Citymesh, to concentrate 4G/5G in Citymesh
    • Proximus: To reduce office space at CHQ from 105k to 40k m^2 due to corona virus
  • VodafoneZiggo:
    • Launches Green Bond Framework, pillars: Use of Proceeds, Process for Project Evaluation and Selection, Management of Proceeds, Reporting, External Review (KPMG);  launches new CSR (ESG) strategy (‘People, Planet, Progress’), goals: 'halve our impact on the environment and help two million people move forward in society' (2% energy efficiency improvement every year, reducing greenhouse gas emissions and we use 100% wind energy), focus on ' climate crisis, pollution and social inequality'; 5 areas: 1. Everything for a healthy environment, 2. Equal opportunities in the digital society, 3. A diverse and inclusive culture, 4. Technology for society, 5. Sustainable purchasing of services and products
    • Launched first Green Bond 201207: settlement 201218, EUR 700m 2.875% notes due 2029 to refinance existing debt (EUR 600m 2.5% Vendor Financing due 2024 & EUR 100m Vendor Financing due 2021), 'to invest an amount equal to the net proceeds of the Green Bonds in existing and/or future green projects'
  • Delisting
  • AT&T
    • WSJ: offers for DirecTV reach $15b
    • WarnerMedia sells Crunchyroll to Funimation (= Sony Pictures Ent, Aniplex (= Sony Music Ent); 3m SVOD subs, 90m r'red users for AVOD), $1.175b cash
  • Modern Times Group: Acquires Hutch (free-to-play mobile games), $375m (275 cash + 100 earn-out)
  • Google: Acquires Dataform (UK, B2B, manage data warehouses) 
  • Amazon: Rumor: to invest $100m in Apollo Pharmacy (India)
  • ByteDance: Federal Court Washington grants injunction against TikTok shutdown in US
  • Uber
    • Sells Advanced Technologies Group (self-driving car tech) to Aurora Innovation, rumored price $4b, to close 21Q1; Uber to invest $400m in newco at $10b valuation, Uber to own 26%, ATG investors to own ~14%
    • Sells Elevate (flying taxis) to Joby Aviation, to invest $75m in newco
  • IPO
    • DoorDash: IPO price $102, first trade $182, closes at $189.51
    • Airbnb: IPO price $68, First trade $146, closes at $144.71
    • C3.ai: IPO price $42, first trade $100.00, closes at $92.49
    • Roblox: Postpones IPO to 2021; "Based on everything we have learned to date, we feel there is an opportunity to improve our specific process for employees, shareholders and future investors both big and small" [DoorDash, Airbnb, C3.ai exploded on first day of trading, implying IPO price was too low]
    • Affirm: Postpones IPO to 2021 

Networks

FTTP
  • Proximus launches Fiber in Brussel: plans full FTTH coverage (600k HP) in Brussels (Brussels Hoofdstedelijk Gewest) by end 2026, partners Actiris, Bruxelles Formation, VDAB Brussel (600 jobs); target 4.2m HP YE 2028 (currently 400k, rollout in 16 cities); plans 50k in Brussels YE 2020, to add 100k/yr from 2022; ultimate coverage target BE 70%
  • Ulysse Group orders XGS-PON from Iskratel for network in Luik
  • Telekom DE plans nationwide FTTH by 2030, to add 600k HP in 2020 (2019: 270k), to rise to 2m/yr; currently 13k employees in Fiber Factory
  • Orange RO to increase FTTH 50% in 4 yr
  • CityFibre plans expansion to Plymouth, GBP 52m, roll-out to start Jan 2021 - And Dewsbury, GBP 40m - And Bradford, GBP 75m
  • Hyperoptic plans FTTP at large proportion of L&Q (housing ass London & SE England, total 90k)
  • Mediacom sues to block West Des Moines' partnership with Google Fiber
5G
  • DoCoMo demos CA, with Qualcommm: 100 MHz in 3.5 GHz & 100 MHz in 4.5 GHz, max 4.2 Gb/s
  • Slovak Telekom launches 5G (DSS of 15 MHz in 2100 MHz band) in Bratislava, down 300-600 Mb/s, up 60-80 Mb/s; launches Privat 5G at CEIT (R&D center in Zilina)
  • T-Mobile US launches 5G mobile hotspot from Inseego (5G MiFi M2000); 500 MB for 5 $/mo, 100 Gb for 50 $/mo
6G
  • EC appoints Nokia leader of 6G project Hexa-X (210101 - 230630): research, pre-standardisation process, use cases, scenarios; 6 challenges: 1. Connecting intelligence (AI/ML for improved efficiency & service experience), 2. Network of networks (digital ecosystem), 3. Sustainability (reduced global ICT environmental footprint), 4. Global service coverage (incl connecting remote places), 5. Extreme experience (extreme bitrates, extremely low (imperceptible) latencies, seemingly infinite capacity, precision localization & sensing), 6. Trustworthiness (confidentiality & integrity of communications and delivering data privacy, operational resilience & security) - Ericsson to co-lead - Partners: Orange, TIM, Telefonica, Intel, Atos, Siemens, universities, other
LEO

Services

Video

    • Overall
      • Total D2C content expense 2023/24 $14-16b
      • Total streaming subs 300-350m by 240930
    • Disney+
      • Reaches 86.8m subs 201202 (o/w 24m = ~30% for Disney+ Hotstar in India), target 230-260m by 240930 (o/w/ 30-40% at Hotstar; incl Star, launch 210223)
      • Target peak oper loss in 2020/21, profitable in 2023/24
      • To raise prices March 2021 in US from 7 to 8 $/mo (70 to 80 $/yr), bundle Hulu (with ads) & ESPN+ from 13 to 14 $/mo; new bundle Disney+, Hulu (ad-free), ESPN+ 19 $/mo; in Europe from 7 to 9 EUR/mo (to add Star)
      • Plans to add new originals to Disney+ every week; distr deal with Comcast for Xfinity X1 and Flex subs; to spend $8-9b on originals in 2023/24; to add 10 Marvel series, 10 Star Wars series, 15 Disney & Pixar series & 15 features (total 100 releases/yr across all brands)
      • Pinocchio (Tom Hanks), Peter Pan and Wendy to skip theaters to premiere on Disney+; day-and-date theater release & Premier Access at $30 for Raya and the Last Dragon
      • Star (#6 tier within Disney+, next to Disney, Pixar, Marvel, Star Wars, NatGeo; with parental control) to launch 210223 in continental Europe (1k titles), Canada, ANZ, Singapore
    • Hulu
      • Reaches 38.8m paid subs 201202, target 50-60m by 240930
      • 92m MAU for AVOD, Hulu With Live TV 4m subs
      • Target profitable by 2022/23
    • ESPN+
      • Reaches 11.5m subs 201202, target 20-30m by 240930
      • Target profitable by 2022/23
    • Star+
      • Incl. Disney+, ESPN, ESPN+ content
      • To launch June 2021 in Latam, ~7.50 $/mo stand-alone, ~9.00 $/mo in bundle with Disney+
      • 2k titles in first yr + 10k sports events (500 per mo)
Gaming
Web services
  • Amazon: AWS launches Amazon HealthLake: aggregates an organization’s complete data across various silos and disparate formats into a centralized AWS data lake and automatically normalizes this information using ML; first customers: Cerner, Ciox Health, Konica Minolta Precision Medicine, Orion Health
  • Brave launches Brave Today: personalised news reader (without trail for Brave, ISPs or 3rd-parties), based on CDN
Telco consumer services
  • yallo (Sunrise UPC subbrand) launches yallo Home for postpaid subs, 40 CHF/mo (new subs: 49 CHF/mo) in 24 mo contract for 10/10 Gb/s + TV (Wilmaa premium TV free for 24 mo, after 13 CHF/mo) + 2 mo free Sky Show or Sky Sport, with free Zyxel Fiber Box (with WiFi 6: max 6 Gb/s)
Telco business services
Telco web services
Smart city
  • Smart Dubai launches Leadership Dashboard for Government Resources initiative: aggregates financial, contractual, HR-related government data, to offer decision-makers a holistic view of their organisations, allowing them to make informed decisions based on real-time data 
  • Colombia to invest $1b in smart cities & educational centres. 
  • Leuven launched Digital City Pole project, with TRES, Citymesh (Cegeka, 5G) & Nokia (GPON): LED lighting, EV-charging

Hardware

Apple
Broadcom
  • FCC approves Broadcom's BCM4389 (world’s first FCC-certified Wi-Fi 6E chip), latency 2ms

Regulatory

Facebook
Platforms
  • Cnil (FR) fines Google EUR 100m, Amazon EUR 35m for breaching data protection rules by placing advertising cookies on users’ computers without obtaining appropriate consent
  • ACM (NL) starts investigation into how to oversee algorithms, publishes report (position paper); trial with Muziekweb
  • Modern Computing Alliance established by Google, Dell, Intel, Slack, Zoom, Box, Cirtrix, Imprivata, Okta, RingCentral, VMWare: to tackle joint problems around security, remote work, and other enterprise issues; focus on 4 areas: 1. performance, 2. security & identity, 3 remote work, productivity & collaboration, 4. health care; focus on Chrome browser and Chrome OS
Telecoms
  • FCC starts C-band auction: 280 MHz in 3.7-3.98 GHz band (currently at satellite operators) - Reaches $1.9b after day 1
  • Cyprus plans 5G multiband auction 201217, 4 bidders: Cyta (Cytamobile-Vodafone), PrimeTel, Epic, Cablenet: 6 lots 2x5 in 700 MHz band, 8 lots 50 MHz in 3.6 GHz band; coverage requirement: 70% of pops and major highways by 251231; reserve price CYP 6m per license


at 10:53 pm 0 comments
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Sunday, December 06, 2020

Week 49 in Telecoms, Internet, Media

Corporate 

  • Telefonica: Establishes 50/50 JV Movistar Money in Colombia (19m subs; may expand in Latam) with BBVA to offer consumer loans, to launch 21Q2
  • TIM: Reuters: KKR to sell part of FiberCop stake (max 30%) to Infinity Investments (sovereign wealth fund Abu Dhabi)
  • Orange Belgium: Orange plans offer, 22 EUR/share cash (36% premium); plans squeeze-out & delisting on reaching 90% capital, 95% votes; current ownership: Orange 52.91% (via Atlas Services Belgium), Polygon Global Partners 5.05%, Boussard & Gavaudan 3.02%, free float 39.02%
  • Tele2: Sells Tele2 DE in MBO, EV EUR 22.8m
  • Altice Europe: Sued by Lucerne Capital Management (owns EUR 94m in shares): opposes structure of Next offer, price too low - Sessa Capital agrees
  • Optus: Plans to sell 70% of towers, $2b
  • Eurofiber: Acquires FullSave (B2B operator in Toulouse & Bordeaux regions; FTTO (600 km), 1 datacenter for colocation, IaaS)
  • RTL: Buys out minority shareholders in RTL BE (tv: RTL-TVI, Club RTL, Plug RTL; radio: Bel RTL, Radio Contact, Mint; streaming: RT: Play; news site: RTLInfo.be) in cash & stock
  • S&P Global: WSJ: offers $44b for IHS Markit - In stock
  • Google: Acquires Actifio (data mgt for businesses) 
  • Amazon:
    • Record Holiday season to date (Black Friday, Cyber Monday); 3rd-party sales $4.8b (+60% yoy), 71k surpasssed $100k in sales; 3rd-[arty sellers created total 2.2m jobs
    • WSJ: to acquire Wondery (podcast maker), >$300m
  • Facebook: Acquires Kustomer (CRM solution for small businesses), rumored price >$1b
  • Airbnb: Revised IPO filing: IPO price $44-50 (valuation at max $35b), to raise $2.5b, symbol ABNB
  • DoorDash: Raises IPO range to $90-95, 33m shares, to raise $3.1b

Networks

  • VodafoneZiggo: Integrates internet traffic with Liberty Global (replacing direct peering at AMS-IX) from 201130; expects no quality degradation (latency, packet loss); current peak capacity 6.5 Tb/s
  • Fixed:
    • WIK report on copper switch-off 
    • IDATE for FTTH Council Europe report (State of Fibre: new Market Forecasts 2020-2026 revealed) forecasting 2020-2026:
      • FTTH/B connections in EU27+1 to 202m with 148m subs (73.3%)
      • NL: from 3.8m HP with 2.0m subs (25.3% HH penetration) in 2020 to 7.7m HP with 4.6m subs in 2026 (56.4% HH penetration)
      • also for EU39: from 195m HP with 86m subs (43.9%) in 2020 to 317m HP with 208m subs (65.4%) in 2026
    • RUNE connects first customer to XGS-PON (first in Europe), with Iskratel
    • Google Fiber launches 2 Gb/s in Huntsville, Nashville 
    • Netherlands:
  • Wireless:
    • Industry reports:
      • Ericsson Mobility Report:
        • 5G pops coverage YE 2020E 1b, 5G subs YE 2020 220m, 2026E 3.5b
        • 5G launched by 106 operators (o/w 22 announced cloud gaming); FWA launched by 200 service providers, YE 2026E subscriptions 180m (o/w 70m = 40% over 5G), from 60m YE 2020E, data traffic 2026E 25% of all mobile data traffic, from 15% at end 2020)
        • Mobile data traffic growth 20Q3 10% qoq, 50% yoy, by 2026 5G will carry 54% of all mobile data, data traffic per smartphone CAGR 2020-2026 24%, 30% in MENA, 30% in Latam, 28% in SE-Asia/Oceania, 27% in N-America, 26% in W-Europe, 26% in C&E Europe, 26% in sub-Sahara Africa, 24% in NE-Asia, 15% in India
        • IoT connections to grow from 12.6b in 2020 to 26.9b in 2026 (CAGR 13%), CAGR by type: short-range 12%, wide area 22% (o/w cellular 23%)
        • 4 time-critical use cases with 5G (low latency; 10s of ms = 99% reliability, 1 ms = 99.999% reliability):
          • Real-time media: processing and rendering to the cloud; for AR/VR
          • Remote control: moving humans out of hazardous locations
          • Industrial control: real-time process monitoring and control, controller-to-controller communication, smart grid control, machine vision for robotics and motion control,
          • Mobility automation: automation of control loops for vehicles and mobile robots for automated guided vehicles (AGVs), cooperative maneuvering of vehicles, advanced intersection safety
        • 5G network coverage 60% of global pops by 2026, from >1b = 15% in 2020
        • [other topics: AT&T FirstNet, Industry 4.0, mobile cloud gaming]
        • Operators have 3 main paths to success:
          • Quality (to lead the market, taken by 19%)
          • Offering (to challenge the market with new offerings, taken by 28%)
          • Industry (follow trends; to follow the market, focus on value-for-money propositions; taken by 38%)
      • Comsof for FTTH Council Europe report 'Fibre for 5G: the story of convergence' [see 190313]: phased roll-out of FTTH (requires 2 fibers) with spare capacity significantly reduces future cost of 5G (backhaul requires 24 fibers); based on shared trenches & ducts; extra investment to make FTTH ready for 5G is 1-7%
      • Viavi Solutions report 'Fiber in 5G Networks': FTTx disaggregated architecture using splitters for FTTH and WDM for small cells
      • Enterprise IoT Insights report 'Challenges with Digital Change in Healthcare – from low-level IoT sensing to big-bang 5G and AI, and how Covid-19 has turned the market both on and off': remote monitoring in healthcare
    • 5G launches
      • Bouygues launches 5G (3.5 & 2.1 GHz) in 20 cities, targets nationwide coverage end 2021; plans 5G Core 2023; launches promo: B&You 25 EUR/mo (unlimited voice & text, 130 GB)
      • Viettel launches 5G in Hanoi (free trial), to expand to Da Nang and Ho Chi Minh City
    • 5G technology

Services

      • in US 210104; Already launched in UK/Ireland (distr. deal with Sky). In US 210104 (distr. deal with Verizon: 12 mo free for Play More or Get More Unlimited subs, 6 mo free for Start or Do More Unlimited subs). To add >25 countries in 2021: Nordics, IT (distr. deal with TIM), NL, ES, Latam, parts of Asia (incl. India).
      • 5 $/mo with, 7 $/mo without ads
      • Max 5 profiles, max 4 concurrent streams
      • 55k episodes from 2500 shows at launch (incl 50 originals, 150 hr of exclusive content), to add 1000 hr of originals in first yr
      • No linear channels (content first in linear channels, then on Discovery+) but sports in Europe (incl Tokyo Olympics) be covered (via Eurosport)
    • WarnerMedia:
      • Entire 2021 film slate (17 films: The Matrix 4, Dune, In the Heights, The Many Saints of Newark, The Suicide Squad, The Little Things, Judas and the Black Messiah, Tom and Jerry, Godzilla vs. Kong, Mortal Kombat, Those Who Wish Me Dead, The Conjuring: The Devil Made Me Do It, Space Jam: A New Legacy, Reminiscence, Malignant, King Richard) to premiere in theaters & on HBO Max on same day because of corona virus - Ends offering free trial - AMC (659 theaters) opposes, will "aggressively pursue economic terms that preserve our business"
      • Plans expansion to Europe (replacing HBO-branded services in C&Ê Europe and Nordics), Latam 21H2; long term target 190 countries h
      • Rumor: plans 2 streaming video services 2021: CNN (SVOD), entertainment (content from TBS, TNT, Warner Bros films; free AVOD)

Hardware

  • Vodafone UK launches smartwatch Neo for kids, developed with Disney, Fuseproject
  • Vodafone partners with Nreal (glasses for AR, MR) to develop wearables & services for consumers (sports, gaming, virtual tours, mmersive education) & businesses (conference call capabilities, remote collaboration & technical services, retail-focused offerings incl virtual showrooms) over 5G
  • Amazon: Fire TV Cube adds webcam support for calling any Alexa-enabled device 

Regulatory

  • Telecoms
    • Ofcom (UK) launches Spectrum Management Strategy, consultation until 210226
  • Platforms
    • Rumor: US federal & state authorities plan 4 lawsuits against Google & Facebook by Jan 2021
    • ACM (NL) starts investigation of payment apps and NFC (some smartphone only allow payment app from NFC provider) 
    • Google: Federal judge handling DoJ lawsuit [see 201020] calls on both sides to set rules about who will have access to sensitive information
    • Facebook:
      • Oversight Board interim report: 20k submitted posts since start (201022), selects 6 for comments (by 201208)
      • Reuters: >40 US states (led by NY) plan antitrust lawsuit Dec 2020
      • US DoJ sues over discriminating against US workers by reserving positions for temporary visa holders


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