Ahead of Spotify’s direct listing in April 2018, they hosted an investor day (our handbook for that event can be found here), where numerous comparisons were made to Netflix, particularly by then Spotify CFO (and former Netflix CFO), Barry McCarthy. The word “Netflix” was actually mentioned five times during the investor event, four by McCarthy.…
We are increasing our Anterix price target to $96 from $64 based on our increased confidence that electric utilities understand the cost of spectrum for private LTE networks. The electric utility As we continue to peel the onion on opportunities in the IoT space, it has become clear that electric utilities’ needs are different than…
Today, we are recommending KORE Wireless, which sits in the middle of the IoT ecosystem with an enablement platform. This appeals to large Enterprise customers implementing end-to-end solutions or IoT solutions providers themselves, attempting to bring their specialized services to a global market. Specifically, our new Buy rating and $14 price target is on Cerberus…
When you walked into Les Moonves’ office, you saw a huge board showcasing the CBS primetime programming line-up vs. their broadcast network peers. Of course, there was competitive programming beyond what aired on broadcast TV, not to mention other forms of entertainment. But “what mattered” was which broadcast network had the most viewers, especially within…
The ISED, which is Canada’s version of the FCC, finally announced its plans for the C-Band spectrum in Canada. We discuss the implications for 5G in Canada and Telesat, the primary existing user of that spectrum. The decision The ISED will not auction C-Band spectrum until Q1 of 2023. That’s 2 years later than the…
4 1/2 years ago in late 2016, we spent the weekend pondering the implications of AT&T’s acquisition of Time Warner (link). That transaction took almost two years to close (link to our thoughts at closing) and now, just 2 1/2 years after closing and only 18 months since the hiring of a new CEO/management team,…
Disney is set to report fiscal Q2 (March) 2021 earnings after the close today. Following a huge rebound from the depths of the pandemic last spring, Disney stock has stalled out year-to-date. The following three issues could serve as meaningful catalysts for Disney shares over the coming year: 1. Explain Why ESPN and ABC Need…
We are initiating coverage on Roblox (RBLX) with a BUY rating and $85 price target, which is 20x our 2022 bookings estimate of $2.75bn. Our PT yields ~30% upside from current levels. We are several years into the most recent major paradigm shift in media and communications, whereby video became an integral part of our…
Last week, we had the opportunity to speak at the APOS 2021 Virtual Conference, the premier event for the Media, Telecom and Entertainment industries in Asia, created and hosted by Media Partners Asia (MPA). Vivek Couto, Executive Director & Co-Founder, Media Partners Asia has given LightShed permission to showcase our own presentation and Couto’s presentation…
The holy grail of advertising is the ability to transform ads into content that is value add to the consumer. Ultimately, this is why digital is taking share from untargeted ads across legacy media by driving conversion and enabling far higher ad loads. Pinterest is well-positioned to not only capitalize on this trend, but be…
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