Here are the nine key questions investors should be asking management on tonight’s Netflix Q1 2021 earnings interview (our Q4 2020 questions can be found here). 1. Why Was Sony Pay 1 So Important? Given Disney’s focus on unifying the Marvel Character Universe, we were shocked to see Netflix outbid Disney to license Pay 1 rights…
Over the past few days, we have listened to two podcasts that shine a light on just how fast the media industry is evolving. The Smartless podcast hosted by Jason Bateman, Sean Hayes and Will Arnett interviewed Netflix Co-CEO and Chief Content Officer, Ted Sarandos and the Recode Media podcast hosted by Peter Kafka interviewed…
We are bullish on legacy MSG Entertainment. The live entertainment business was perhaps the biggest pandemic victim in TMT. However, the company has managed its way through with a strong balance sheet entering the crisis, some additional debt and ample cost cutting – some of which will be permanent. We are confident that live entertainment…
Starlink and Amazon have increased investor interest in the opportunity of LEO satellite constellations. And for good reason, satellites play a key role in providing connectivity in hard to reach locations for the ever rising demand for data. Somewhat overlooked, Iridium (IRDM: $37.89) is already a fully launched LEO constellation tapping into the growth of…
One by one, every legacy media company has capitulated and followed the tech platforms into the world of streaming with their own SVOD services (not to mention AVOD/FAST offerings). Legacy media management teams have provided investors with ambitious multi-year subscriber forecasts in hopes of getting the same shareholder “love” that has been afforded to Netflix…
Mark it down. March 18, 2021 is the day the multichannel TV bundle died. Sure the bundle will be around for many years to come, but the future trajectory is now clearer than ever and the proverbial “floor” on multichannel video subscribers is far lower than we predicted. What we thought was a 40-50 million subscribers floor due to the NFL is probably now closer to 20 million, as more and more marquee sports content (especially NFL content) becomes available outside the legacy multichannel bundle.
Cord-cutting continues and is likely to hit all-time highs in 2021, as virtually all meaningful new general entertainment programming has shifted away from the legacy multichannel bundle to direct-to-consumer streaming services. Not to mention, more and more sports are moving to DTC platforms including Thursday Night Football (Amazon), the WWE Network (Peacock), NHL (ESPN+), Champions…
In our final Investor Day question list we turn to AT&T, who hosts theirs at 10 AM tomorrow. This will unfortunately complicate the recording of our weekly podcast, which continues to show great growth. Thank you. We will still get the weekly podcast out by end of day. Also as a reminder, T-Mobile is hosting…
We continue our series of Investor day listicles with 10 questions for T-Mobile for their Analyst day tomorrow. We cover technology, distribution, media content and growth. Click here for our listicle for Verizon’s Investor day later tonight. 1) What is the timing and depth of your planned mid-band spectrum deployments? Verizon’s purchase of 160 MHz+…
We love the movies and we love going to see a movie in a movie theater, ever since experiencing Superman at the Port Jefferson Theater on Long Island in December 1978 (not to age ourselves). In fact, we suspect movie theaters will be around for decades to come, especially with parents looking for ways to…
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