Amazon Fall Devices Event 2023: Alexa, Echo, eero, Fire TV, Blink, Ring

• All devices contain Alexa, carry Climate Pledge Friendly badge;
• Expands Alexa capabilities
• with conversational GAI (LLM)
• adds Amazon Alexa Emergency Assist (6 $/mo or 60 $/yr)
• adds Alexa Eye Gaze (for control)
• to add Character.ai (chat with famous people)
• plans to add Smart lighting to Echo smart speakers
• expands Fire TV with GAI for voice search
• launches Map View: digital map home floor plan with connected devices pinned to it
• Launches Echo devices
• new Echo Show 8 (smart speaker; $150; incl Echo Show 8 Photos Edition, $160, with PhotosPlus subscription (2 $/mo); with stand, $35)
• Echo Hub (control panel for smart home, 8-inch, wall-mountable, $180; decorative frame $20, counter stand $30)
• new Echo Frames (smart glasses with audio, 7 styles, $270; incl Carrera Smart Glasses, $390)
• Launches eero Max 7 (router, WiFi 7 mesh system, supports 2.4, 5 and 6 GHz bands; wired max 9.4 Gb/s, wireless max 4.3 Gb/s; $600 for 1-pack, $1150 for 2-pack, $1700 for 3-pack)
  
• Launches new Fire TV devices
• Fire TV Stick 4K Max (with Fire TV Ambient Experience (transforms TV into always-smart display, $60), WiFi 6E, 16 GB storage)
• new (gen 2) Fire TV Stick 4K ($50)
• Fire TV Soundbar ($120);
• Launches Blink devices & features
• Blink Outdoor 4 Floodlight Camera (LED floodlight camera, $160)
• Blink Sync Module Pro (extends range)
• Blink Outdoor 4 Battery Extension Pack (extends battery llfe);
• Launches Ring Stick Up Cam Pro (indoor/outdoor camera that offers an aerial view, with radar);
• Launches kids devices
• Echo Pop Kids (smart speaker)
• Fire HD 10 Kids (tablet for 3-7 year-olds, $190)
• Fire HD Kids Pro (tablet for 6-12 year-olds, $190)

AWS re:invent 2022

AWS re:Invent 2022 (221128 - 221202, Las Vegas):

• No hiring freeze, keeps building datacenters
• Plans to be water positive (water+) from 2030 (returning more water to communities than it uses)
• Signs Descartes Labs; and Wallbox; and Brookfield AM; and Stability AI; and Yahoo; and American Family Insurance
• Vodafone, Intel, Dish Wireless, Swisscom, Spark, Telenor, Telefónica, T-Systems, JMA Wireless, others demo MEC & RAN solutions
• Expands partnership with Slalom to develop vertical solutions and accelerators on AWS for customers in the energy, financial services, healthcare, life sciences, public sector, and media & entertainment industries - Expands partnership with Atos (enables Atos customers with large-scale infrastructure outsourcing contracts to accelerate workload migrations to the cloud and achieve digital transformation)
• Launches tools to connect & analyse data stores - Launches Amazon DataZone - Launches Amazon Security Lake - Launches AWS SimSpace Weaver - Launches 3 new Amazon Elastic Compute Cloud (Amazon EC2) instances powered by 3 new AWS-designed chips - Launches Graviton3E chip - Launches AWS Supply Chain - Launches AWS Clean Rooms - Launches Application Composer (low-code tool for builduing serverless apps) - Launches  AWS AI Service Cards
• Adds 5 new capabilities for Amazon QuickSight - Adds 5 new Database & Analytics capabilities - Adds 8 new Amazon SageMaker capabilities

Amazon hardware event: all the new products & services

Hardware Event

• Amazon Games launches New World (for computer, MMORPG), standard edition $40, deluxe edition $50
• Launches Amazon Glow, $300 (promo $250): "This category-defying product has been created with safety as a priority"; 8 inch interactive device with projector for 19 inch touch-sensitive, projected space; for video calls, sharing media (reading stories, playing games, creating art, object scanning), incl 1 yr free access to Amazon Kids+, with Glow Bits (learning kits), with Amazon Parent Dashboard (parental controls)
• Blink launches Blink Video Doorbell in US from $50 (1080p HD display, with Alexa; 2-way audio, wired or batteries, chime app alerts), with Blink Floodlight Camera mount ($40 or $140 with Blink Outdoor), Blink Solar Panel Mount (from $130 with Blink Outdoor)
• Expands Amazon Halo with Halo View (new fitness band, $80 with 1 yr membership; health tracker with AMOLED color display for at-a-glance access to Halo health metrics), Halo Fitness (free for Halo subs; service with hundreds of studio-quality workout classes), Halo Nutrition (2022; free for Halo subs; experience to help build healthy eating habits), with sports bands (from $15)
• Launches Hey, Disney! in US (2022), with Walt Disney (voice assistant for Echo devices, works along Alexa at home, at Walt Disney World Resort hotel rooms (based on Alexa for Hospitality service), lets guests interact with select Disney characters), adds OtterBox Den Series stand for Echo Show 5, $25
• Launches Echo Show 15, $250 (15.6 inch display, 1080p HD, picture-in-picture, with Alexa; video apps pre-installed: Prime Video, Netf;ix, Hulu, Sling TV; with Alexa widgets, Amazon Photos; for calendar, shopping lists, to-do lists, reminders, recipes, delivery options from restaurants; based on Amazon AZ2 Neural Edge processor; with countertop stands and under-cabinet mount accessories)
• Launches Amazon Astro in US, from $1000 (request invitation; incl 6 mo free Ring Protect Pro): home robot (with Alexa; map floor plan, obey commands to go to a specific room, recognize faces, deliver items to specific person, play music, show the weather, answer questions, video calls, follow your movements, roam around the house when you aren’t home, making sure everything is okay, raise its periscope camera to show you whether you’ve turned the stove off, use 3rd-party accessories to record data like blood pressure, etc; based on Qualcomm chip)
• Launches Ring Always Home Cam, $250 (request invitation): camera attached to drone for in-home
• Launches Ring Alarm Pro suite for home security (Eero base station, with WiFi6, data back-up via mobile, 3 GB/mo included)
• Launches Amazon Smart Thermostat, $60 ($76 incl power adapter; developed with Resideo (Honeywell))
• Launches Alexa Together subscription service in US, 20 $/mo (2022; for families with aging family members)

Amazon acquires MGM: all the details

• Acquires MGM (incl. United Artists Releasing 67/33 JV with Annapurna Pictures; MGM Television; Epix premium cable channel)
• $8.45b incl. $2.1b debt (likely to be repaid on closing)
• Catalog (IP) of 4k films, 17k episodes, complements Amazon Studio (focus on series), total >180 Oscars + >100 Emmys
• Part of catalog currently licensed to TCM = WarnerMedia (MGM films before 1986; UA films until 2022)
• Latest James Bond movie (No time to die) to get worldwide theatrical release 211008
• To establish Media & Entertainment Group, headed by Jeff Blackburn (Amazon Studios, Prime Video, Amazon Music, podcaster Wondery, games, Twitch, MGM)
• Moody's places MGM rating (corporate B1, sr secured credit Ba3) on review for upgrade

Week 20 in Telecoms, Internet, Media (UPDATED)

CORPORATE

• KPN: Telegraaf: EQT and Stonepeak still interested in offer
• Telefonica: Rumor: to sell Zeleris (logistics), wants EUR 100m, HIG Capital interested
• BT: Fitch: agreement with BT Pension Scheme (to meet part of its pension deficit repair plan through an asset-backed funding (ABF) structure) is broadly neutral to BT's leverage profile and rating
• CityFibre (West Street Infrastructure Partners = Goldman Sachs 35%, Antin Infrastructure Partners 35%): Rumor: to sell 30% stake for GBP 1b to ~20 pension & investment funds, to expand target from 8m to 10m premises 
• Vodafone
• 20/21Q4 prelim
• guidance 21/22: adj EBITDA AL EUR 15.0-15.4b, capex GBP 8b (raised), adj FCF >EUR 5.2b
• Strategy Update
• to apply for EU's Recovery & Resilience facility
• targets rev growth, adj EBITDA AL growth MSD, adj FCF growth FCF, leverage 2.5-3.0x, dividend minimum 9c
• focus on 1. Network investment (fixed & 5G), 2. stronger, more comprehensive product offering, 3. accelerate digital capabilities, 4. flexibility to support Vantage Towers
• Rumor: interested in co-investment with BT to build 5m premises by 2026
• VodafoneZiggo: Ziggo Sport to lose Formula 1 rights from 2021/22 season to NENT Group, rumored to pay >EUR 30m, to establish Viaplay, with Bundesliga football (currently at RTL NL); reaches 1.5m viewers
• Liberty Global
• CMA approves Virgin Media / O2 UK merger without remedies, to close 210601
• Establishes JV AtlasEdge Data Centres with Digital Colony to develop >100 edge datacenters in Europe, to close & launch 21Q3; for s 5G, gaming, IoT, edge compute applications; e Josh Joshi to be Exec Chair; Virgin Media UK & IE, Sunrise UPC, UPC Poland to be anchor tenants, open for 3rd parties
• Cegeka: Citymesh plans to expand mobile nationwide and into consumer market under new brand, to invest EUR 100m, to participate in upcoming auction (700, 900, 1400, 1800, 2000 bands)
• Iliad: 21Q1; delays fixed-line market IT entry to after summer 2021; expects Iliad IT to report positive EBITDA AL over 2021; to sell remaining 30% stake in towerco FR (On Tower France = Cellnex), >EUR 600m; to revise Op CF target for FR (excl B2B, originally EUR 900m) by Sep 2021
• Altice Europe: SFR acquires 50% stake in RegloMobile (MVNO France, 770k subs; = Afone Participations) from E Leclerc Group (retailer)
• 1&1 Drillisch: Finalises nat roaming (2G, 3G, 4G plus 2G, 3G, 4G, 5G MVNO; excl 4G in urban areas from 260101: 1&1 Drillisch 5G covered areas) deal with Telefonica DE, 5 yr; 1&1's subs to be migrated to own network after certain period
• Gamma Communications: AGM & 21Q1 trading update; outlook 2021: rev, adj EBITDA, adj EPS at high-end of range of market forecasts (rv GBP 442-461, adj EBITDA 86-94m, EPS 55-63p)
• Deutsche Telekom
• CMD (1)
• Targets 2021-24: rev CAGR 1-2%, adj EBITDA AL CAGR 3-5%, FCF >EUR 18b by 2024 (2020: 6.3b), EPS >EUR 1.75 by 2024 (2020: 1.20), pay-out ratio 40-60% of EPS (lower limit EUR 0.60); aims for sustainable growth
• 5 key action areas: 1. Turning customers into fans (leader in terms of customer experience in fixed, mobile, convergence; superior networks and best-in-class service), 2. Lead in B2B in Europe (rev CAGR 2% in DE and Europe; T-Mobile US to double market share), 3. A new level of sustainability (to become climate neutral in terms of its own emissions (Scope 1 and 2) by as early as 2025, from 2040, 10 years earlier than the original target, this will apply to the entire value chain (Scope 1, 2 and 3), management compensation contains components based on these targets), 4. Number one in fiber and 5G (FTTH penetration >60% by 2030, from 5% currently; to add 2.5m HP/yr from 2024; 5G coverage 97% pops coverage by 2024), 5. We continue to drive digitization (continue to digitize its business at all levels, 30 percent of purchases by customers in Germany to go via our electronic channels by 2024) 
• Strategic review for T-Mobile NL (preparing for sale) & towers
• CMD (2)
• Targets tech & inovation
• Targets T-Systems
• Group Development (US, BT stake, NL, Towers, DTCP): valuation T-Mobile US $76b, BT stake GBP 1.9b, GD Towers EUR 12.8b, T-Mobile NL EUR 5.7b incl towers 5.0b excl towers (reduced EBITDA AL EUR 30m) (based on broker estimates), own valuation EUR 6b (enterprise value)
• Targets T-Mobile NL ('Crown Jewel') YE 2024: 900k fixed subs, FMC penetration of branded base >40%, >50% of customer transaction digital
• GD Towers ('Kingmaker asset') targets 2024: add 6k sites, 15k site extensions, external rev CAGR >3% (3rd party business), lower opex/site; targets GD 2024: rev CAGR >2%, adj EBITDA CAGR >4%, cash contribution AL CAGR >6%
• AT&T
• To merge WarnerMedia with Discovery in all-stock, Reverse Morris Trust transaction
• Moody's affirms Discovery's rating (Baa3, outlook stable) and AT&T's rating (Baa2, outlook stable)
• NYT: Jason Kilar (WarnerMedia CEO) to exit
• Discovery CEO signs new contract until end 2027 - WSJ: Zaslav received 14.8m stock options worth $190m
• 8K filing
• SingTel: Plans impairment charge on Amobee (ad platform), Trustwave (cyber security), Optus (Australia)
• RTL
• Plans to merge M6 with TF1 (= Bouygues), exchange ratio 2.1
• Rumor: RTL BE for sale, to raise EUR 200-250m, candidates: DPG Media (also interested in RTL NL), Telenet/SBS, Rossel, IPM consortium
• RTL NL targets EUR 500m revenue over 2021 o/w 20% = EUR 100m from Videoland
• Vivendi: Reduces ambition for ownership of UMG after IPO 210927 of 60% from 20 to 10% (Tencent to retain 20%), may sell 10% to US-based investor or increase float to 70%; to retain 10% stake for minimum 2 yr; UMG 21Q1: rev EUR 1809m (+9.4%; recorded music +10.8%, music publishing +6.9%, merchandising & other -10.0%), EBIT 322m (+36%)
• Google: Bloomberg: Waymo plans to raise $4b, considers IPO

VIDEO

• Amazon
• The Information: to offer $7-10b for MGM (studio, channel Epix); Variety: to offer $9b (others expect $5b)
• libary of 4000 films (incl James Bond, Hobbit, Rocky/Creed, RoboCop, Pink Panther franchises) + 17k episodes (incl Stargate, Vikings, Fargo, The Handmaid’s Tale, Get Shorty, Condor, Fame, American Gladiators, Teen Wolf, In the Heat of the Night), unscripted shows (incl The Voice, Survivor, Shark Tank, The Real Housewives of Beverly Hills, The Hills)
• MGM 21Q1: rev $403m (+27%), net income $29.3m
• Variety: valuation $5-6b + debt, Eon Productions (= Broccoli family) control James Bond franchise, insist in theatrical release, refuse spin-offs
• NENT Group: Plans to launch Viaplay in NL 22Q1 as streaming ad-free SVOD service
• WarnerMedia: HBO Max AVOD tier (HBO Max With Ads)
• to cost 10 $/mo
• to launch in US early June 2021
• to exclude day-and-date Warner Bros movie premieres throughout 2021
• no ads against HBO originals; minimal ad load
• to produce equal margin to ad-free tier
• ad types: Brand Block, Pause Ad, Branded Discovery
• ad-free tier to expand to Latam/Caribbean end June 2021
• to upgrade HBO-branded streaming services in Europe to HBO Max 21H2
• Some HBO Max originals to be aired on TBS & TNT from summer 2021
• ViacomCBS: CBS plans addressable commercials for broadcast TV from 21H2
• Netflix
• Established division (events/spectacle team) focused on obtaining franchise rights; currently 90 shows in development based on already established properties across comics, books, manga, video games
• Rumor: plans expansion into videogames, ad-free, may be bundled with SVOD - Confirms expansion into interactive entertainment
• Vimeo: Launches enterprise-grade video hub

MUSIC

• Spotify
• Launches virtual concert series May/June 2021 (with The Black Keys, Rag’n’Bone Man, Bleachers’ Jack Antonoff, Leon Bridges, girl in red)
• Spotify for Artists publishes Fan Study
• Partners with Storytel (500k audioboks, 1.6m subs) to allow Storytel subs to connect their account through Spotify to access their audiobooks within Spotify’s app (based on Open Access Platform, to add more OAP partners)
• Amazon: Allows Amazon Music Unlimited subs (10 $/mo for Amazon subs, 8 $/mo for Prime subs, 15 $/mo family plan) free upgrade to Amazon Music HD (originally 15 $/mo); 70m tracks in HD (lossless, 16 bit, 44.1 kHz) o/w 7m in UHD (24 bit, 192 kHz), some upgraded to 3D Audio (Dolby Atmos, Sony 360RA)
• Apple: To migrate to lossless audio (ALAC; from 16 bit 44.1 kHz to 24 bit 48 kHz and24 bit 192 kHz) & spatial audio (Dolby Atmos) June 2021, price unchanged; total 75m tracks

WEB SERVICES

• Google I/O 
• Snap
• Partner Summit
• new services
• Spotlight paid out $130m since launch to creators (5400)
• reaches 500m MAU
• demos Spectacles gen 4 for AR creators (currently 200k, supports with $3.5m + $1m with Verizon for 5G-based AR): AR (dual waveguide displays capable of superimposing AR effects made with Snapchat’s software tools), 4 built-in microphones, 2 stereo speakers, built-in touchpad, Connected Lenses (allows multiple people to see and interact with the same scene in AR)
• launches Ghost (AR innovation lab)
• Acquires WaveOptics (AR display supplier, powers Spectacles), >$500m
• Microsoft launches personal (consumer) version of Teams: chat, video calling, share calendars, locations & files (online (teams.live.com) or app for desktop, Android, iOS) 
• Vodafone UK launches 3 packages for SME around Wix services (website creation tool): Get Selling Online (10.5 GBP/mo excl VAT; create presence, with payments), Peace of Mind Online (13; adds security), Supercharge My Business Online (22.4; adds Microsoft 365)

TELECOM SERVIVES

• Ziggo launches internet-only tiers: 75/10 Mb/s for 42.50 EUR/mo, 300/30 for 53, 600/40 for 60.50, 1000/50 for 65.50

NETWORKS

• Ookla Speedtest Global Index (April 21): global average FBB 102/54 Mb/s, MBB 53/13 Mb/s; FBB: Singapore #1 (246), S Korea #2 (242), HK #3 (241), Monaco #4 (220), RO #5 (214), NL #25 (153); MBB: UAE #1 (191), S Korea #2 (186), Qatar #3 (181), China #4 (149), KSA #5 (148), NL #9 (107) 
• GSMA calls on governments to allocate 6 GHz band (5925-6425 & 6425-7125) to 5G (at least 6425-7125 portion, 5925-6425 license-exempt; currently mostly for WiFi) for mobile, smart city, smart industry, smart transport
• Melita (first in Malta) launches 5G (in existing spectrum), nationwide, with Ericsson
• Sunrise UPC proposes 5G for Smart Buildings (using MR, AR) for Building Information Modeling (BIM); demos transparent building app from Builcon (MR glasses see through walls, enabling them to detect where pipes, cable routes and ducts run)

REGULATORY

• Platforms
• EU proposes unified corporate tax regime, based on OECD rules (to be agreed June 2021)
• US House Dems propose Social Media DATA Act: forces platforms to share data (ad libraries) with researchers and FTC (description of the audience that was targeted, information about how many people interacted with the ad, details about whether the ad was optimized for awareness, traffic or some other purpose); working group within FTC to establish best practices around social media research
• Apple: lawsuit Epic Games (Fortnite) vs. Apple ongoing

Week 19 in Telecoms, Internet, Media

CORPORATE

• Orange
• Reuters: plans to acquire TDF (= Brookfield Infrastructure, APG Asset Management, PSP Investments, Arcus Infrastructure Partners, Credit Agricole; 19k RTV & mobile towers, fiber in FR), rumored value EUR 5.9b; to merge with Totem
• Orange ES plans 485 (15%) job cuts
• Telefonica: Sells 4 datacenters (2 in ES, 2 in Chile) to Asterion for 20% stake in Nabiax (manages 11 datacenters already) to be held by Telefonica Infra (Asterion retains 80%)
• Tele Columbus (Morgan Stanley): Raises EUR 475m from capital increase for Fibre Champion strategy
• AT&T: Bloomberg: plans to merge Warner Media with Discovery (Liberty Media (John Malone) 30%); Discovery CEO David Zaslav to be CEO, WarnerMedia CEO Jason Kilar to lead D2C business
• Vimeo: Spin off from IAC 210525, symbol VMEO
• Amazon
• Brand Protection Report 2020: invested $700m, employed 10k people to protect stores from fraud & abuse; prevented 6m attempts, seized 2m products, blocked 10b listings, counterfeit complaints over <0.01% of all products sold
• Plans to raise debt, 8 tranches - Raises: 0.250% Notes due 2023 ($1b), 0.450% Notes due 2024 ($2.5b), 1.000% Notes due 2026 ($2.75b), 1.650% Notes due 2028 ($2.5b), 2.100% Notes due 2031 ($3b), 2.875% Notes due 2041 ($2b), 3.100% Notes due 2051 ($3.25b), 3.250% Notes due 2061 ($1.75b); all maturing May 12, total $18.5b - Prospectus supplement; gross proceeds $18.437b, net proceeds $18.395b, underwriting discounts & commissions $42m (10 manager banks, 6 co-managers) - 8K filing: to finance or refinance, in whole or in part, green or social Eligible Projects
• CEO Jeff Bezos sold shares 210507-10; started with 51,731,171 + 34 shares = 51,731,205 shares, ended with 51209269 shares [sold 521,936 shares at average ~3250 $/share = $1.70b]     
• To hire 75k employees in US for fulfillment & transportation, minimum wage 17 $/hr, sign-up bonus max $1000
• Redwood Software: Raises EUR 315m from Turn River Capital

EARNINGS

• Deutsche Telekom: 21Q1; raises guidance 2021
• Telefonica: 21Q1, FTTH in Spain reaches 25651 premises (take-up 29%), 5G covers 80%; shut down 769 copper exchanges in Spain (of total 8532), targets full fiber replacement by 2025; to close 3G in Spain 2025
• Telefonica Deutschland: 21Q1
• United Internet: 21Q1; confirms outlook 2021
• 1&1 Drillisch (United Internet 75.1%): 21Q1; to start 5G roll-out 21Q3; maintains outlook 2021: SR EUR 3.10b, EBITDA 650m (incl initial 5G costs 30m, excl 34.4m positive impact from adjusted MVNO deal)
• BT: 20/21Q4; plans FTTP JV to add 5m HP, raises target to 25m premises by 2026; Openreach plans copper switch-off at 77 locations (700k premises) from 220429, total 297 locations (2.9m premises)
• Walt Disney: 20/21Q2; to launch Star+ SVOD service in Latam 210831

NETWORKS

• Fixed
• IDATE for FTTH Council Europe report FTTH/B Market Panorama in Europe (EU39 at Sep 2020, bottom-up rerearch): 182.5m HP (52.5% coverage from 92% in Belarus to 5.6% in Belgium) o/w 39% incumbents, 57% altnets, 4% munis/utilities; 81.9m HA (44.9% take-up, from 70.7% in Iceland to 1.3% in Belgium); Homes left to be passed in EU27+UK from 34.7m in UK to 45k in Malta; total ~400 initiatives
• Ofcom (UK): average BB speed 2020 80 Mb/s (+25%)
• Proximus orders ultra dense vectoring (2MX6) from Nokia: raises # connections per cabinet (Proximus has 28k street cabinets) from 200 to 300 (later 400), bandwidth doubles from 17 to 35 MHz, power usage lower
• 5G
• Ericsson ConsumerLab 5G report (survey of 31k in 26 markets): 5G users spend 2 hr/week more using cloud gaming, 1 hr/week more on AR apps compared to 4G users
• Omdia for Orange report on 5G impact (economy, employment, emissions) in FR, ES, PL, BE, RO by 2030: value creation EUR 407b (o/w 25% in manufacturing), adds 420k jobs, avoids 33 Mt of greenhouse gas (GHG) emissions (equals city of Berlin) 

VIDEO

• Netflix: Considers adding bonus materials to orginals for N-Plus (production outtakes, cast interviews, bloopers, related video, podcasts, do-it-yourself content, user-generated music play lists)
• Amazon: Launches MiniTV in India: free AVOD, in-app (web-series, comedy shows, content around tech news, food, beauty, fashion etc)
• Google
• YouTube: Launches YouTube Shorts Fund in US, India, to pay out $100m in 2021-22; Shorts adds functionality
• Google Play launches Entertainment Space: feature (section in home screen) for Walmart tablets, to expand to Lenovo, Sharp, other Android tablets (one-stop, personalized home for all favorite movies, shows, videos, games, books, with recommendations)
• Walt Disney
• 20/21Q2 (per 210403): Disney+ (incl Disney+ Hotstar) net adds 8.7m to 103.6m; ESPN+ net adds 1.7m to 13.8m; shortened 45 day theater window for Shang-Chi and the Legend of the Ten Rings (210903, Marvel) & Free Guy (210813, 20th Century), some films to go to Disney+ directly, some day&date in theater & Disney+ for Premier Access ($30; Cruella on 210528, Black Widow on 210709, Jungle Cruise (Dwayne Johnson, Emily Blunt) on 210730); to launch Star+ (incl Disney and ESPN content) in Latam 210831 as stand-alone SVOD service
• Hulu (Walt Disney, Comcast): 20/21Q2: reaches 41.6m subs (+2.2m), SVOD +2.4m, Hulu With Live TV -200k to 3.8m
• NBCUniversal (Comcast): Rotten Tomatoes (= Fandango) launches streaming service The Rotten Tomatoes Channel (24/7 loop of 100 hr of inear video), distr via Roku Channel, Peacock, XUMO
• WarnerMedia (AT&T): Average usage of HBO Max 2 hr/day
• Pinterest: Plans in-app live streaming event (trial) 24-25 May 2021 with 21 creators (with moderators, max 5 guests, unlimited viewers): fashion design, cooking, health, etc
• Regulatory
• Regal Cinemas (= Cineworld) agrees shorter theatrical window with Universal Pictures (NBCU), to share rev from Premium VOD [introduces a new window #2 for PVOD] - And with Walt Disney
• Cinemark (#3 theater chain US) partners with Netflix: to pre-release Netflix originals in theaters [short window #1]
• BIA Advisory Services for NAB report (Economic Impact of Big Tech Platforms on the Viability of Local Broadcast News): broadcasters lose 1.87b $/yr on local news to Google Search & facebook News

WEB SERVICES

• Facebook: Diem digital currency abandons Swiss license applications, moves to US, partners with bank Silvergate to issue a dollar-backed stablecoin
• Twitter: Developing Twitter Blue premium service, 3 $/mo with extra features: Collections (save & organize favorite tweets into collections), Undo Tweet (wait 5-30 sec before sending), possibly also Scroll (ad-free), Revue (newsletters)
• Apple: Plans expansion in advertising (App Store, Apple News+, Stocks app) - Counterpoint Research: new ads rev stream based on iOS 14.5 could be $60b (Apple ads replacing 3-rd party ads from Facebook & Google)
• Google tests feature for Chrome: Desktop Sharing Hub or Chrome Sharing Menu: generating a QR code, sharing to devices, casting a tab and other actions that revolve around sharing the current page to another person or device from a centralised location
• Regulatory
• Apple: Rachael Kent (King's College, University of London) starts mass-action claim over App Store fees
• Platforms: FTC appoints pro-separation legal scholar Lina Khan - Rumor: FTC to appoint Eyitayo St Matthew-Daniel (currently US DoJ) head of antitrust unit (300 employees)

Amazon Prime Video: all the originals and licensing announcements of April

Series - scripted

• Series Panic premieres 210528
• Horror series Them premieres 210409
• Series Borat Supplemental Reportings Retrieved From Floor of Stable Containing Editing Machine (deleteed scenes from Borat 2) to premiere
• Orders unnamed series spin-off of The Boys (Reina Hardesty)
• NZ filing: budget for series Lord of the Rings season 1 NZD 650m = $465m (NZ tax rebate NZD 160m = $114m)
• Orders pilot based on novel Shelter by Harlan Coben
• Ordered anthology series Solos (7 episodes; Jack Quaid, Morgan Freeman, Anne Hathaway, Helen Mirren)
• Orders series Paper Girls (Sofia Rosinsky, Camryn Jones, Riley Lai Nelet, Fina Strazza)
• Licenses comedy series Loudermilk, season 3 premieres 210427
• Orders seasons 2 & 3 of adult animation series Invincible
• Ordered scf-fi series Lightyears (JK Simmons, Sissy Spacek)

Movies - scripted

• Orders remake of thriller movie Goodnight Mommy (Naomi Watts)
• Movie Tom Clancy’s Without Remorse premieres 210430
• Licenses sci-Fi movie The Tomorrow War (Chris Pratt) from Paramount, premieres 210702, rumored value $200m
• Orders zombie comedy movie Killing It (Robin Thede)
• Licenses movie A Hero (Asghar Farhadi; Iran), to premiere 2021

Unscripted

• Orders Spanish adaptation of cooking reality series The Great British Bake Off (Celebrity Bake Off España, 10x50 min)
• Licenses global option rights for local versions of adventure reality series Hunted from Banijay
• Orders docu series The Pogmentary (about footballer Paul Pogba)
• Docu Time (80 min, Oscar nomination) distributed on YouTube (free)

Week 15 in Telecoms, Internet, Media

CORPORATE

• Orange BE
• Polygon (5.29%) declines offer - Orange will not raise offer
• Deminor (adviser to Polygon) and WATT Legal oppose offer
• Tele Columbus: EC approves takeover; accepted by 91.96%, to close 210419, then rights offering to raise EUR 475m
• Eir (NJJ 33%, Iliad 32%) Report on poor customer service during corona virus pandemic due to remote working and outsourcing
• Virgin Media UK (Liberty Global): CMA (UK) approves O2 UK merger, "unlikely to lead to any substantial lessening of competition in relation to the supply of wholesale services" (provisional, open for comments until 210507, final decision 210527)
• Altice Europe (Patrick Drahi): Moody's: assigns B2 to sr secured notes ($3b) issued by Altice FR, outlook negative (high leverage, weak FCF generation); increases debt maturity from 5.5 to 5.9 yr, interest savings EUR 50m
• Telstra: Rumor: considers merging Telstra International with PCCW Global (talks with PE firm I Squared Capital), Telstra to acquire PCCW Global
• Amazon: Annual Report 2020, Letter to Shareholders, Proxy Statement; reaches 200m Prime subs worldwide; spent $11b (+41%) on content (movies, series, music) in 2020
• Netflix: Moody's upgrades from Ba3 to Ba1, outlook positive
• Clubhouse: Raises funds; rumor: at $4b valuation; 10m WAU
• Squarespace: Plans IPO via direct listing; symbol SQSP
• AppLovin: IPO, symbol APP, IPO price $80, opens at $70, closes $65.20 (-19%) on first trading day
• Epic Games: Raises $1b (incl $200m from Sony), valuation $28.7b
• Reservoir Media: Plans IPO via SPAC, with with Roth CH Acquisition Co II; 21Q3 on NYSE, symbol RSVR, EV $788m

NETWORKS

General

• Ookla Speedtest Global Index (March 2021)
• Global average FBB 99/53 Mb/s, MBB 48/13 Mb/s
• FBB: Singapore #1 (234), Thai #2 (231), HK #3 (225), RO #4 (211), Monaco #5 (205), NL #27 (137)
• MBB: UAE #1 (179), S Korea #2 (171), Qatar #3 (167), China #4 (150), KSA #5 (134), NL #8 (103)
• Tefficient mobile data usage report 2020 (ranking 105 MNOs)
• Global mobile data volume +38%, Zain Kuwait #1 (40.2 GB/SIM/mo), DNA #2 (34.8), 3 Austria #3 (30.5); T-Mobile NL 6.0, VodafoneZiggo 3.4, KPN 3.1
• "The bottom 11 operators are from the low usage markets of Greece (Vodafone), Czech Republic (TMobile), Belgium (Proximus, Orange, Telenet BASE), Germany (Telekom, O2, Vodafone) and the Netherlands (KPN and Vodafone Ziggo – but not T-Mobile)."
• " the nine operators with the highest revenue per GB are from six European countries: Greece, Belgium, Norway, the Netherlands, Czech Republic and Switzerland."

FTTP

• Orange PL establishes open access FiberCo (Światłowód Inwestycje) 50/50 JV with APG
• Orange PL anchor tenant
• Valuation PLN 2.748b (debt-free, cash-free) = EUR 605m
• Orange PL to receive PLN 1.374b = EUR 303m (PLN 887m on closing, PLN 487 on delivery during 2022-2026)
• Orange PL contributes 0.7m lines, to add 1.7m lines in 5 yr in mid/low competition areas, capex PLN 3b (partly from new debt (>80%), equity contributions PLN 300m from each during 2023-2026); ultimately to own 2.4m lines
• Will not be consolidated by Orange PL; Orange PL has option to acquire extra 1% + control between 2027 and 2029
• To close end Aug 2021

HFC

• VodafoneZiggo
• Ziggo (VZ) raises download & upload speeds (3.3m subs), requires modem reset (automatically by 210531)
• Launches Smart-Wifi app for Ziggo Connectbox users
• Ziggo (VZ) completes digital TV migration

5G

• AR: DNA plans 5G pilot at Hiukkavaara school in Oulu, with BusinessOulu, Educational & Cultural Services, City of Oulu, Oulun Digi, Hiukkavaara school, Playsign: to develop AR experiences for phenomenon-based learning
• VR: BT plans 5G at Hyberbat (battery maker) factory to support VR-enabled digital twin, with Ericsson, NVIDIA, Qualcomm
• 360 degrees video: Verizon launches TUDN Vision: portal for 360 degree watching of soccer games televised by Univision
• Cloud gaming: Vodafone IT launches 5G cloud gaming platform GameNow
• SA 5G: Vodafone DE launches SA 5G in 3.5 GHz band at 10 sites in 170 cities, with Ericsson, Qualcomm, OPPO; latency 10-15 ms
• Bell Labs Consulting (Nokia) report The Big Inversion ("How 5G+ technologies will create new value for industries in a post-COVID world")
• Private Wireless
• Nokia and EY partner on Private Wireless, 3 key offerings: 1. fuelling digital change in manufacturing, energy, and operations across industries, including for governments and cities; 2. building cybersecurity and digital trust by protecting and managing challenges brought by IoT and IT/OT crossover; 3. helping telcos, specifically, to capture and monetize 5G business enterprise opportunities
• DT acts as SI for Private 5G for Industry 4.0

6G

• German government plans EUR 700m investment in 6G research by 2025

SERVICES & CPE

Telco & other

• Virgin Media UK (Liberty Global): Liberty Charge starts national on-street EV-charging roll-out in Waltham Forest (London Borough) [see 200518]; to be operated by  EV DOT (= BMM Networks); retail price 30 p/kWh
• Vodafone ES partners with TiVo for targeted ads on TV platform
• CRTC (Canada) requires Bell, Rogers, Telus, SaskTel to offer wholesale services for MVNOs and seamless roaming

Music

• Spotify
• Launches Car Thing in US (smart player, limited release, invite-only), free for select Premium subs (excl shipping): voice control (“Hey Spotify”), dial, touch screen (4 inch), preset buttons, requires Bluetooth and smartphone; "Our focus remains on becoming the world’s number one audio platform—not on creating hardware—but we developed Car Thing because we saw a need from our users, many of whom were missing out on a seamless and personalized in-car listening experience."
• Partners with Warner Music Group to develop podcasts around WMG's catalogs
• Apple Music: WSJ: Apple Music pays 52% of subscription rev (0.01 $/stream) to rights holders [compare Spotify: 67% to rights holders o/w 75-80% to labels = 50-53; Spotify has more subscribers and has a free+ads tier]
• Distr deal with Epix (= MGM): bundle 13 $/mo, exclusive access to music to series Godfather of Harlem 

Video

• Self Financial report based on IMDb ratings: Apple TV+ #1 (average score 7.24 or 7.13 on 70 titles), HBO Max 7.13 or 7.01, Netflix 6.94 (530 titles), Disney+ 6.63 (420 titles)
• Morgan Stanley survey US: 39% say Netflix offers best originals, Amazon Prime 12%, Disney+ 7%, Hulu 7%, HBO Max 6%
• Antenna & MoffettNathanson report on churn rates US 20Q4: Netflix 2.5%, Disney+ 4.3%, Apple TV+ 15.6%, HBO Max 6.7%, Peacock 9.5%
• Plex: Reaches 25m MAU (r'red users who spent >= 10 minutes on Plex); >150 free channels, 20k free movies & episodes (from Lionsgate, Warner Bros, MGM, Sony Pictures Television, Sinclair Broadcast, AMC, A+E, Crackle, BBC); raises $50m

REGULATORY

• Amazon: WSJ: leverages dominance in one business to compel partners to accept terms from another
• Twitter: Launches Responsible Machine Learning Initiative led by ML Ethics, Transparency and Accountability (META) team: assess downstream or current unintentional harms in the algorithms used
• Platforms
• US Senator Josh Hawley (R-Mo) proposes Trust-Busting for the Twenty-First Century Act: ban M&A for fimrs with market cap >$100b, replace antitrust issue of consumer harm by protection of competition, , empower FTC
• EU plan for AI regulation leaked: to establish European Artificial Intelligence Board
• US House of Representatives Judiciary Committee approves report on platforms (Google, Facebook, Amazon, Apple); "each hold monopoly power over significant sectors" [see 201006]

Amazon Prime Video: all the originals and licensing announcements of March

Series

• Orders thriller series The Terminal List (Chris Pratt, Constance Wu)
• Orders sci-fi series Lightyears (Sissy Spacek, Ed O’Neill)
• Orders season 2 of fashion reality series Making the Cut (Heidi Klum, Tim Gunn)
• Orders thriller series The Devil’s Hour (6 episodes) from Hartswood Media
• Series Cités (12x60 sec) premiered on TikTok in France
• Orders drama series A Very British Scandal (3x60 min; Claire Foy, Paul Bettany)
• Orders series Porno Y Helado (8x30 min; Argentina)
• Licenses sereis Loudermilk, seasons 1 & 2 premiere 210312, season 3 later
• Orders unnamed series (spin-off from The Boys)
• Orders season 4 of Marvelous Mrs Maisel
• Ordered series The Peripheral (Jack Reynor)
• Orders seasons 2 & 3 of romcom Como Sobrevivir Soltero (Spain)

Movies

• Ordered thriller movie Bingo (Joshua Caleb Johnson) from Blumhouse
• Comedy movie Coming 2 America (Eddie Murphy, $125m) premiered
• Orders first Bollywood movie Ram Setu
• Docu P!NK: All I Know So Far premieres 210521
• Orders movie Ace Ventura 3
• Plans originals from France, incl live sports
• Licenses We Children From Bahnhof Zoo from Fremantle
• Orders comedy movie Hot Pink (Sarah Michelle Gellar)

Sports

• Acquires national NFL Thursay night license, 10 yr from 2023, 16 games/season, rumoured price >$1b per season [NFL raises rumoured $110b from rights for 11 seasons 2023-33 from NBC, CBS, Fox Sports, ESPN, ABC, Amazon]
• Licenses 21 NY Yankees games from Yes Network
• Receives German broadcast license required for Champions League coverage from 2021/22 season

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
• CityFibre: Starts in Sheffield, 5 yr, GBP 110m    
• Freedom Fibre plans FTTP in Culcheth (max 500 Mb/s), with TalkTalk as ISP
• 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
• Google Meet adds green room feature to test settings before meeting
• Zoom adds features for hybrid workforce
• Webex (Cisco) launches Webex Desk Camera, adds feature to share max 4 screens
• Smart City
• Uberlândia (Brazil) connects 22k streetlights, with Telensa, Novakoasin
• 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)