Showing posts with label Spotify. Show all posts
Showing posts with label Spotify. Show all posts

Monday, May 24, 2021

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
  • SingTel: Plans impairment charge on Amobee (ad platform), Trustwave (cyber security), Optus (Australia)
  • RTL
  • 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


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Monday, March 22, 2021

Week 11 in Telecoms, Internet, Media

Corporate

  • KPN
  • VodafoneZiggo
    • 20Q4 final, Annual Report 2020
    • Moody's affirms Ba3 corporate family rating (CFR) & Ba3-PD probability of default rating (PDR)
  • Vodafone: Vodafone Business Investor Briefing ("Connecting people, places & things for a better future")  
  • Telefonica: Considers selling minority stake in submarine cable unit (part of Telxius), to be integrated in Telefonica Infra
  • Iliad: 20Q4; Iliad IT to add fixed-line services summer 2021
  • Elisa: Annual Report 2020
  • Rakuten: Rakuten sells equity (13% stake) for $2.2b to Japan Post (8.32%), Image Frame Investment (= Tencent) 3.65%, Walmart 0.92%, Mikitani
  • Spotify: Launches Loud & Clear website: guide to royalty payment system; >13k artists made >$50k in 2020, 870 made >$1m
  • Google: Cuts Google Play app store fees for developers to 15% from 210731 for first $1m earned per yr (above remains 30%)
  • Amazon: Expands Amazon Care telehealth service nationally for its employees and other companies summer 2021 [see 201216]
  • Snap: Acquires Fit Analytics (fitting tech for fashion e-commerce)
  • Microsoft: Acquires Marsden Group (industrial innovation)

Networks

  • FTTH
  • Nokia
    • Nokia partners with Google for cloud-based 5G radio solutions, combining RAN, Open RAN & Cloud RAN with Google's edge - Also with AWS (Amazon) for cloud-based 5G radio solutions, combined with AWS Outposts - And with Microsoft on cloud solutions for enterprises (Private 4G & 5G), combining Cloud RAN with Azure
    • Nokia to reset cost base by EUR 600m by end 2023 from 5-10k job cuts to 80-85k in 18-24 mo; to be redirected to R&D, innovation (5G, cloud, digital infra), salaries; restructuring costs EUR 600-700m (o/w 50% in 2021, 15% in 2022, 35% in 2023) by 2023; maintains outlook 2021 (incl EUR 500m cash out for previous restructuring); units to streamline portfolios [see 210311] 
    • Nokia to halve 5G base station power consumption by 2023
    • Nokia CMD: target oper margin 7-10% in 2021, 10-13% in 2023 (Mobile Networks 5-8%, Network Infra 9-12%, Cloud & Network 8-11%, Nokia Tech >75%)
    • Nokia launches midrange 5G smartphones A52, A72

Services

Regulatory

  • Spectrum
    • Ofcom (UK) raises GBP 1.36b from multiband auction (700 MHz & 3.6-3.8 GHz) Phase 1 (Phase 2 for assignments to follow); EE 2x10 MHz in 700 MHz band for GBP 280m, 20 MHz of supplementary downlink spectrum in 700 MHz band for GBP 4m, 40 MHz in 3.6-3.8 GHz band for GBP 168m; 3 UK 2x10 MHz in 700 MHz band for GBP 280m, Vodafone 40 MHz in 3.6-3.8 GHz band for GBP 176m; Telefonica O2 UK 2x10 MHz in 700 MHz band for GBP 280m and 40 MHz in 3.6-3.8 GHz band for GBP 168m
    • FCC plans 3.4 GHz band (100 MHz in 10 MHz blocks for Partial Economic Areas, total 4060 licenses) auction (110) Oct 2021, reserve price $14.7b
  • Ofcom (UK) publishes Wholesale Fixed Telecoms Market Review (WFTMR) for 5 yr (April 2021 - March 2026) framework to promote fibre: entry level copper/fiber wholesale prices not reduced, top-end fiber unregulated, regulated fiber prices may be raised, no cost-based fiber regulation for at least 10 yr  - Virgin Media UK positive - BT confirms rol-out plan (20m FTTP premises by 2025-30, GBP 12b), Openreach may not give geographic discounts - TalkTalk negative: price increases on BB, FTTP may become too expensive for many - DCMS launches Project Gigabit, GBP 5b for >1m rural premises: targets 85% FTTP coverage by 2025
  • Platforms: BEREC supports EC's DMA [see 201215], publishes Opinion and Draft Report, adds proposals, consultation until 210504
  • EC adopts first Horizon Europe 2021-24 strategic plan (EUR 95.5b), to launch call for proposals spring 2021


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Sunday, February 28, 2021

Week 8 in Telecoms, Internet, Media

Corporate

  • TIM: 20Q4 & 2021-23 Plan Update Beyond Connectivity: 1. Unique commercial proposition, 2. Best technological infrastructure, 3. Further improve operational excellence, 4. Leaner organizational model; works with 5 factories: Noovle (cloud), Telsy (cyber security), Olivetti (integrated IoT), Sparkle (int wholesale), TIM Vision (content)
  • Proximus: 20Q4; guidance 2021: additional expenses (opex EUR 50m) for fiber migrations, IT transformation, cloudification, Mwingz (shared mobile network with Orange BE) roll-out (reducing capex), targets EBITDA EUR 1.750-1.775m, capex close to EUR 1.2b, to double fiber roll-out from 2020, net debt/EBITDA <1.6x, domestic rev close to 2020 level (EUR 4.285m), div 2021 and 2022 EUR 1.20 (floor); confirms #inspire2022 ambitions; opex redux CAGR 2020-22 1-2%, expands cost savings to EUR 400m over 2020-2025 (o/w half in 2020-22), targets domestic EBITDA to grow from 2022
  • Vodafone
    • Vodafone CZ plans strategic coop wit utility CEZ (70% state-owned)
    • Vantage Towers Intention to Float (ITF) in Frankfurt March 2021 of meaningful minority stake; rumored valuation: EUR 15b, to raise EUR 4b
  • Virgin Media UK (Liberty Global): CMA publishes responses from Sky & Vodafone regarding O2 merger; concerns on wholesale market for MVNOs and backhaul - O2 UK claims concerns addressed
  • Akamai: Investor Summit
    • 3-5 year Security targets: Application Security CAGR 20-25%, Network Security CAGR 20-25%, Security Services CAGR 10-15%, overall CAGR goal >20% (rev to more than double in 5 yr to $2.5b, addressable market $29b)
    • 3-5 year CDN targets: Edge Delivery CAGR 0-3%, Edge Applications >30%, Services CAGR 1-3%, overall CAGR goal 2-5% (addressable market $18b)
    • Financial targets Security: cash gross margin high 80s (2021: 86-87%), EBITDA margin high 40s (2021: 45-46%), oper margin mid 30s (2021: 34-35%), network capex low single digit (2021: 1-3%), R&D capex high single digit (2021: 8-10%)
    • Financial targets CDN: gross margin high 60s (2021: 68-69%), EBITDA margin mid 40s (2021: 42-43%), oper margin high 20s (2021: 26-27%), network capex low double digit (2021: 11-13%), R&D capex mid single digit (2021: 4-5%)
    • Total targets 3-5 yr: rev CAGR 6-10%, gross margin high 70s (2021: 76-77%), EBITDA margin mid 40s (2021: 44%), oper margin 30-32% (2021: 30%), capex mid teens of rev (2021: 16%)
  • Roblox: Plans IPO via direct listing 210310
  • Thomson Reuters: To invest $500-600m in AI, ML in 2 yr; to cut opex by $600m from eliminating duplicate functions, modernizing & consolidating technology, attrition, shrinking real estate footprint
  • Twitter: Analyst Day: Goals:
    • 1. Double development velocity by end 2023 (ie doubling the number of features shipped per employee)
    • 2. 315m mDAU (monetisable DAU; currently 85% from brand ads, 15% from performance ads; global digital brand + performance ads market $150b, Twitter market share 3%) 23Q4 (20Q4: 192m, implies CAGR 20%)
    • 3. more than double annual rev to $7.5b (2020: $3.7b) 
  • Snap: Investor Day: guidance: revenue CAGR 50%; Usage stats: 5b Snaps/day, Snap Map 250m MAU, advertising 90% self-serve, digital ad market US share 2% (reach <50% of smartphone uesrs), reach 13-24 year olds >90% (US, UK, Australia, FR, NL), reach 13-34 year olds >75% (US, UK, Australia, FR, NL)

Networks

  • Broadband Choices: report Internet Accessibility Index 2021 (based on speed & cost), ranking 169 countries: Denmark #1, Liechtenstein #2, US #3, NL #15
  • FTTH
    • Telefonica
      • Telefonica Chile sells 60% stake in fiber network to KKR (Global Infrastructure Investors III Fund), $1b, to close 21Q2; to establish OA wholesale company; to expand pops coverage from 2m to 3.5m by 2023 (FTTH, 40k FTTO lines, FTTS); reduces debt by EUR 400m
      • Telefonica Brazil plans fiber network spin-off to establish OA wholesale company FiBrasil, with investor (TBA 21Q1); Bloomberg: talks with Caisse de Depot et Placement du Quebec (CDPQ)
    • T-Mobile NL to add 1m HP by 2025 with #2 investment partner (not Primevest), TBA 21H1, to start in 10-15 areas
  • Mobile, 5G
    • Ericsson Mobility Report 20Q4 update: global mobile subscriptions (8b, penetration 102%, unique active subs 6b; net adds 19m), mobile BB subs 6.5b (net adds 100m), 5G subs 220m at 130 providers (net adds 70m), 4G subs 4.5b (net adds 90m); total global mobile data traffic 60 EB/mo (+51% yoy, +9% qoq)
    • EIB report Accelerating the 5G transition in Europe
    • Umlaut: T-Mobile NL best network worldwide (962 points), KPN (954) and VodafoneZiggo (945) also in Top 10    
    • Polsat Group sells 99.99% stake (2,069,656 shares) in Polkomtel Infrastruktura to Cellnex
    • Malaysia plans government-owned wholesale 5G network via special purpose vehicle ($4b in 10 yr; also: FTTH), to adminster spectrum for all MNOs (part of digital  transformation by 2030); Microsoft, Google, Amazon, Telekom Malaysia to build & manage hyper-scale data centres & cloud services
    • Google partners with Intel on cloud-native 5G; 3 main areas: 1. accelerating the ability of CSPs to deploy vRAN & ORAN solutions by providing next-gen infrastructure & hardware, 2. launching new lab environments to help CSPs innovate on cloud-native 5G, 3. making it easier for them to deliver business applications to the network edge; to develop reference architectures & integrated solutions for CSPs' for core network functions & edge network solutions
  • 6G
  • LEO

Services

  • Video
    • ViacomCBS: Streaming Event: Paramount+ to launch 210304
    • Walt Disney
      • Launches Star tab (75 series, 280 movies at launch) in Disney+ in Europe, ANZ, Canada, Singapore; content from content from ABC, Hulu, FX, Freeform, Disney Television Studios, FX, 20th Century Studios, 20th Television, more
      • Disney+ price increases from 7 to 9 EUR/mo, 6 to 8 GBP/mo
      • Release dates
      • Rumor: Disney+ subs 40% in N America (40m), 30% in India, 30% in Europe & Latam
    • Netflix: 10 Golden Globes (on 42 nominations)
  • Music
  • Smart city
    • Las Vegas ordered smart city solutions from Siemens Advanta & Bluetech Park Properties, $7.5b in 6 yr (net-zero carbon footprint buildings within its own insular mini-city, automated multi-functional designs, renewable energy sources, photovoltaic super trees, various other interconnected innovations)
    • Egypt (Administrative Capital for Urban Development) orders smart city ICT (datacenter, cloud services, to be operated by Orange Egypt) from Orange Business Services for new administrative capital (45km east of Cairo on a greenfield site, 700 km^2); 5 pillars: safety, connectivity, integration, digitalisation, replicability; to launch 21Q2
    • Toyota starts smart city Woven City construction near Mount Fuji, 175 hectares, hydrogen-based, solar, robotics, AI, smart homes; appointed Bjarke Ingels Group as architects
    • Stockholm ordered Univrses app to scan & map city streets from any car, transmitting & processing data in real-time to help create a more detailed picture of the state of the city’s streets, measuring everything from road damage to congestion, the location of streetlights to the state of road signage


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Tuesday, February 23, 2021

Spotify Stream On: event highlights

Investor Discussion Spotify Stream On
  • Plans Spotify HiFi tier (CD quality, lossless audio format) 2021 in select markets, to partner with speaker manufacturers
  • Plans geo expansion to 85 new markets (36 languages) to reach 1b potential subs in >180 countries
  • Total royalties pay-out 2020 $5b; released 1.8b albums in US in 2020; adds 60k tracks daily
  • Podcasts
    • ordered podcast series Renegades: Born in the USA (Barack Obama + Bruce Springsteen, 8 episodes)
    • orders exclusive podcasts from Anthony & Joe Russo’s AGBO prodco
    • orders podcast from Ava DuVerna
    • ordered new season of podcast series Tell Them, I Am (Higher Ground)
    • to add interactivity (polls, Q&A)
    •  to trial paid podcast subscriptions using Anchor podcast creation tool, hosts can charge 3, 5 or 8 $/mo with Spotify taking small share
    • to expand video podcasts;
  • Advertising
    • plans Spotify Audience Network: audio ad marketplace for originals, exclusives, podcasts, ad-supported music (via Megaphone (Streaming Ad Insertion (SAI) tech, currently in US, Canada, UK, DE) & creation tool Anchor (podcast creation app, partners with Wordpress to turn text into audio, add video to podcasts))
    • to offer podcasts on Spotify Ad Studio (self-serve ad platform, currently in 22 markets), first for originals & exclusives in US (beta), to add 3rd-party podcasts
  • Launches creator tools
    • expands Marquee (allows artists to promote new releases through full-screen sponsored recommendations) to include self-serve buying experience for artists (allows their teams to book campaigns), first in US, Canada (summer 2021 in UK, IE, ANZ)
    • launches Discovery Mode (audience development tool, beta; select music artist teams want to prioritize for discovery)
    • expands Canvas to all artists, adds 25 languages

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Thursday, September 17, 2020

Copying TikTok: Instagram (Reels), Snapchat, Spotify (Video Moments), YouTube (Shorts)

To follow (?):
  • Twitter could expand voice tweets.
  • Pinterest is seeing high growth in video posts.
  • LinkedIn may lend itself for a video elevator pitch.


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Monday, September 07, 2020

Week 36 in Telecoms, Internet, Media

NETWORKS 

Fixed/FTTP

  • Cable.co.uk & M-Lab: Worldwide Broadband Speed League (551m speed tests in 221 countries): #1 Liechtenstein (media downlaod speed 230 Mb/s), #2 Jersey (218), #3 Andorra (213), #4 Gibraltar (183), #5 Luxemburg (118), #11 NL (96)
  • TIM approves establishment of FiberCop, KKR taking stake (37.5% for EUR 1.8b based on equity value EUR 4.7b, EV EUR 7.7b), Fastweb (Swisscom) to own 4.5% for including Flash Fiber stake, TIM to own 58%, to close 21Q1; TIM to be exclusive provider of construction & maintenance; FiberCop to employ 100 FTE
  • Telefonica: Telefonica ES plans copper switch-off by 2025
  • FR adds $240m to rural fiber program (2013) 

Mobile/5G

Launches

  • Singtel launches 5G trial (first 20k subs free, additional pay 10 SID/mo extra): 2.1 & 3.5 GHz bands, NSA, max >1 Gb/s, with smartphones
  • Telefonica ES launches 5G, target coverage 75% YE 2020: NSA, DSS, in 3.5, 1.8/2.1 GHz bands
  • DirecTV Colombia (= AT&T;owns 2×15 MHz of FDD-LTE & 40 MHz TD-LTE spectrum in 2600MHz band) launches FWA over 5G in Bogota, max 100 Mb/s
  • SmarTone (HK) adds FWA over 5G service, 150 HKD/mo ($19)
  • Lao Telecommunications Company (LTC) launches 5G in Vientiane
  • Telia DK and Telenor DK to launch 5G end Sep 2020

Expansion

Technology

CPE

Network equipment

Regulatory



SERVICES

Telco bundles
  • EE (BT) launches The Full Works Plan for iPhone: unlimited mobile data, iPhone upgrade anytime, access to Apple Music, Apple TV+ & Apple Arcade; add-ons: BT Sport Ultimate app 
  • Sunrise resells Samsung Sero (Lifestyle TV, 43 inch, rotates between horizontal & vertical orientation), 71 CHF/mo for 24 mo for BB subs; as part of accessory plans (also: Samsung TVs, Sonos Beam Soundbar, Apple iPad & Apple TV) 
  • 3 UK bundles FWA over 5G with free Apple TV 
Video

Walt Disney

  • Distr deal with TIM: bundles TIMvision, Netflix, Disney+ in Mondo Intrattenimento service as part of TIM Super Wi-Fi TV over FTTH (max 1 Gb/s) or FTTC (max 200 Mb/s), 50 EUR/mo or stand-alone 14 EUR/mo
  • Rumor: Disney+ to add Group Watch feature 200904, max 7 people
Netflix

  • Launches promo for non-subs: free access without sign-up to 10 season 1 episodes 1 of orginal series (Murder Mystery, Élite, Boss Baby: Back in Business, Bird Box, When They See Us, Love Is Blind, The Two Popes, Our Planet, Grace and Frankie), only on Android, PC, Mac
  • Dynamically adjust bit rate to match the content, reduces average bit rate by 50% with no loss in image quality, number of rebuffers -65%
Other

Music

Amazon Music (55m users) partners with Twitch to add live streaming music to Amazon Music app

Web services

Google

  • Launches Kids Space mode for Android tablets, first for Lenovo Tab M10 HD Gen 2: access to library of apps, games, videos, books
  • Updates Keen (social net collections of links, texts, etc): adds photo uploads
  • Google Maps adds in-app parking payment over Google Pay, first in Austin (Texas)


CORPORATE

AT&T

Vodafone

Vivendi
  • Demands (with Amber Fund) EGM at Lagardere; combined 44% of capital, <30% of votes; demand new Supervisory Board members
  • ECJ: Italian law requiring Vivendi to freeze its stake in Mediaset on antitrust grounds infringed the union’s regulations
Bytedance
Other
  • Sunrise: Salt sues in US over planned UPC Schweiz merger; subpoenas Liebrty Global, Liberty Media, Liberty Global Chair John Malone & CEO Mike Fries
  • Telefonica DE: Transfers 5975 rooftop sites & 58 tower sites to Telxius (= Telefonica), EUR 1.5b
  • Iliad: 20Q2
  • Patreon: Raises $90m from New Enterprise Associates, Wellington Management etc at $1.2b valuation; total raised $256m
  • Palantir: Amended S1 IPO filing

REGULATORY

Facebook
Other
Platforms general
  • Apple (developers), Google (ad buyers), Amazon (3rd-party sellers) to pass on Digital Services Tax in UK (2%), AT (5%), Turkey (5%) from Nov 2020
  • US gvt/POTUS Trump plans action against more Chinese apps, after TikTok
  • India bans 118 more Chinese apps (prejudicial to sovereignty & integrity of India, defence of India, security of state, public order); total 224
  • DoJ Austria plans platform (>100k users, rev >EUR 500k) obligation to remove criminal content within 24 hr & otherwiser illegal content withion 7 days, non-compliance fine max EUR 10m 
  • Multilateral Mutual Assistance and Cooperation Framework for Competition Authorities (MMAC) established by US DoJ, US FTC, UK CMA, New Zealand Commerce Commission, Competition Bureau Canada, Australian ACCC: to improve coordinated & pro-active informal cooperation & assistance
  • Axios: Facebook, Google, Twitter, Reddit are holding regular meetings with federal law enforcement & intelligence agencies to discuss potential threats to US Presidential election integrity.
  • AT&T proposal: Section 230 should not apply if platform actively curates, proposes disclosures about how they collect & use data, how they rank search results, how they interconnect & interoperate with others,how their algorithms preference some content, products & services over others
  • 15 Streaming services in India (Zee5, Viacom18, Disney Hotstar, Amazon Prime Video, Netflix, MX Player, Jio Cinema, Eros Now, Alt Balaji, Arre, HoiChoi, Hungama, Shemaroo, Discovery Plus, Flickstree) adopt self-regulation (Universal Self-Regulation Code for OCCPs) to pre-empt government censorship::age classification, content descriptions, control tools, create consumer complaints department and/or an internal committee and an advisory panel to deal with complaints and appeals


at 9:58 am 0 comments
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Sunday, August 30, 2020

Week 35 in Telecoms, Internet, Media

FTTH

  • Vodafone: Vodafone UK expands Gigafast Broadband coverage by 360k premises in 3 cities (Birmingham, Bristol, Liverpool) on BT Openreach
  • Liberty Global: UPC PL partners with Operacyjnego Polska Cyfrowa (Digital Poland, led by Fiberhost (= INEA)), extends reach to Wielkopolska, Lublin, Lower Silesia; max 1 Gb/s (80 PLZ/mo)
  • Comcast: Sky Italia expands BB reach to 149 cities, on Open Fiber
  • Sunrise: Salt may sue over UPC Schweiz merger: infringes contractual rights established as part of Swiss Open Fibre joint venture [see 200519] - Sale of majority stake in Swiss Open Fiber on hold due to planned Sunrise/UPC CH merger


5G


M&A

  • Liberty Global: Publishes offer prospectus for Sunrise offer; tender to launch 200911 until 201008 followed by 10 trading days acceptance period (201015-201028)
  • Eurofiber: Reuters (resurfaced): Antin to sell minority stake (or majority if demand high enough), valuation EUR 2b (~20x 2019 EBITDA of EUR 109m), Allianz, Ardian, Macquarie, First State Investments, APG, PGGM interested    
  • MasMovil: Polygon Global Partners (1.02%) to vote against, claims offer (22.50 EUR/share) undervalues by 7-8 EUR/share    
  • Telefonica: ElevenPaths (= Telefonica Tech) acquires Govertis (cybersecurity)
  • TIM: Tiscali to participate in FiberCop
  • Intelsat: Rumor: to acquire the commercial aviation portion of in-flight connectivity specialist Gogo, $500m
  • RealNetworks sells Rhapsody (Napster) to MelodyVR, $26m + $44m in content obligations
  • Bytedance

    • TikTok sues US gvt over Exec Order from 200806 (banning business with Bytedance) suspending the company’s right to due process (under Fifth Amendment), no evidence to support accusations national-security risk - General Atlantic and Sequioa Capital support bid from Oracle - Voting rights groups (Rock the Vote, Voto Latino, Common Cause, Free Press, Maplight) also sue
    • TikTok has 100m MAU, 50m DAU in US
    • WSJ: approached Netflix to buy TikTok US, Netflix declined
    • TikTok CEO Kevin Mayer exits, Vanessa Pappas interim CEO
    • Walmart joins Microsoft in bid for TikTok US/Canada/Australia/NZ, rumored value $20-30b; rumor: originally Walmart partnered with Alphabet & SoftBank
    • Rumor: Oracle to offer $20b (50/50 in cash & stock), profit sharing with TikTok/Bytedance (50/50)
    • Bloomberg: Triller and Centricus to bid $20b for TikTok US/Australia/NZ/India in ccash, stock & shared profits; Triller confirms offer, Bytedance denies, Centricus no comment


EARNINGS


VIDEO/TV

  • Comcast
    • Rumor: to sell X1 platform wholesale to smart TV manufacturers, based on Metrological tech
    • Sky DE distr deal for Sky Ticket (free OTT service; sports, films, series, docus, kids) with Sony for Bravia Android TVs
  • Liberty Global launches 4K Mini TV Box (environmental friendly: 35% recycled plastic, 77% reduced energy consumption), powered by Horizon 4 tech, first All-IP device, first for UPC PL; designed by Liberty, manufactured by Commscope
  • Vectra (MSO, PL) launches IP-based STB (Android TV based, Google certified)
  • Apple: Bloomberg: to add AR content to Apple TV+ 2021, plans 2 AR devices (headset 2022, glasses 2023)
  • Philo: Distr deal with Google Fiber: >60 channels for 20 $/mo (joins YouTube TV and fuboTV)
  • Walt Disney: Distr deal for Disney+ Hotstar with Telkomsel from 200905; 39k IDR/mo or 200k IDR/yr
  • WarnerMedia (AT&T): Crunchyroll Adds tiers (Free, Fan, Mega Fan, Ultimate Fan) and features (downloads for offline)
  • Google: Google Discover tests Short Videos [a la TikTok]


OTHER

  • MUSIC
    • Spotify
    • Tidal: Acquires tokens (SENSO Tokens: in-world currency of Sensorium Galaxy: VR social metaspace in which users can attend alternate-world concerts, nightclubs, festivals; public launch planned early 2021) from Sensorium Corp, $7m
  • TEXT/PRINT: Amazon: Audible launches Audible Plus, 8 $/mo for unlimited access (68k hr from 11k items (originals, audiobooks, podcasts))
  • GAMING: DT: Launches MagentaGaming, 7 EUR/mo: cloud gaming platform, 100 games at launch, no downloads
  • INSURANCE:
  • E-HEALTH: Amazon: Launches
    • Amazon Halo: service to improve health & wellness (AI-powered health features, Amazon Halo app; focus on Activity, Sleep, Body (3D model based om smartphone camera picture, calculates body fat), Tone (voice analysis te determine mood), Labs; Halo profile separate from Amazon account), 4 $/mo
    • Amazon Halo Band (accelerometer, temperature sensor, heart rate monitor, 2 microphones, LED indicator, button to turn the microphones on or off; no display; communicates with smartphone over Bluetooth) in US, $100 (separate band $16 or $20); promo: $65 incl 6 mo service, auto-renews at 4 $/mo + tax on early access basis; partnerships with WW, John Hancock Vitality, Cerner, Mayo Clinic, Exhale, Aaptiv, Lifesum, Headspace etc


    REGULATORY

    • Spectrum
    • Platforms
      • Google
        • YouTube Increased removals in 20Q2
        • Bloomberg: US DoJ antitrust ivestigation focuses on bundling services (Google Network, Google Search, Google Ads) in such a way to block out competition (tying); making the sale of one product conditional on purchasing another isn't illegal per se - but it can be when combined with market power
      • Amazon: CALS by All India Online Vendors Assocition (>2000 sellers in India) over unfair business practices (Amazon discounts drive indie vendors out of business; Amazon buys wholesale, sells at a loss to 3rd-party sellers)
      • Apple
        • Facebook prepares advertisers for Apple iOS 14 (brings changes to Identifier for Advertisers (IDFA) user tracking feature: becomes opt-in): will disproportionately affect Facebook's Audience Network of publishers (could reduce rev 50%); expects less impact on its own advertising revenue than on the ad-supported businesses that rely on its audience network to promote their apps; may shift demand toward Facebook’s own targeting system    
        • Microsoft supports Epic Games; Epic files response to Apple threatening to cut developers off
      • Facebook: Sues MobiBurn (UK, ad tools for developers) over malicious code that illegally collected personal data of Facebook users


    at 10:09 pm 0 comments
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