Netflix launched an online streaming-only service in Canada today (www.netflix.ca). While the service is only available to consumers with a Canadian IP address, you can still explore the content offered by the Canadian service (if you get redirected to the US Netflix homepage, simply click the Canadian flag at the bottom of the page). One Price Point…
While we are skeptical that the current glut of 3D film releases is sustainable, particularly at the current, egregious 3D ticket price premium, we firmly believe 3D is a technology that is here to stay for each year’s biggest ‘event” pictures. In turn, movie exhibitors will continue to need 3D projection technology for years to come. Three Primary 3D…
With the average price of a (2D) movie ticket moving past $8 and the average consumer spending $3-$4 on concessions at the theater, the cost of a “movie date” has now reached $23, even before transportation and/or babysitting are factored into the equation. While the fundamental movie theater principle of kids wanting to get away…
Anatel, the FCC of Brazil, reported better than expected subscriber growth for the month of August on particularly strong growth from TIM Part. Brazil added 2.4 million new wireless subscribers in the month of August, which was 657,000 higher than our 1.75 million estimate, but still down 8% compared to the prior year. The majority…
Anatel, the FCC of Brazil, appears to be moving forward with the auction of 20 MHz of spectrum in as early as December with an ultimate license award in the first half of 2011. We note, however, that the timing of spectrum auctions typically take longer than expected in Latin America and throughout the world…
Despite the power and importance of Nickelodeon to Viacom, investors remain laser-focused on the core MTV network as a symbol of Viacom’s cable network health. As we discussed in our September 8th blog (click here), Viacom’s ratings have been on the rebound for the past nine months and were surging into the annual Video Music…
Resident Evil: Afterlife, released on September 12th, broke franchise records with its opening weekend box office, generating $27 mm compared to $24 mm for the last installment of the franchise in 2007. The film was shown in 3D in over 2,000 theaters, including 141 IMAX venues, with 84% of its total box office coming from…
Last year, DirecTV offered the NFL Sunday Ticket package via broadband and mobile devices to Manhattan consumers for $350 (click here to read our 8/17/09 blog post), the first time it was available to consumers who did not purchase the programming package in addition to their basic DirecTV satellite service. The concept was to expand…
In our initiation report on Sprint on June 1st, we noted our skepticism of whether the company could decommission one-third of its over 60,000 cell sites within two years. At the time, our knowledge of their plans was limited as they had only referenced it at one investor meeting of a small number of investors. The company…
So why does Viacom trade at 8x estimated fiscal (Sept) 2011 free cash flow and an estimated 2011 P/E of 10x. Investors flippantly say it’s the Sumner Redstone discount or that Philippe Dauman is uninspiring as a CEO (while Viacom traded at nearly 15x one-year forward P/E in mid-2006, we were complaining about management back then as…
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