Netflix has been uniquely positioned to benefit from the COVID-19 pandemic as we outlined in March (link) and saw in the Q1 2020 results. Q2 results tonight appear likely to blow away management’s guidance. Little-to-no sports on TV and fresh entertainment content dwindling on linear TV has accelerated cord-cutting to record levels (as we talked…
As usual, our most read post of the year is the first post of the year: our predictions for the year ahead. Streaming wars and the impact of the COVID-19 pandemic on TMT sectors/companies are dominating so far this year with our readers clearly intrigued with the idea of Disney’s new CEO Bob Chapek getting…
Earlier today, we were invited to speak at P&G’s Signal 2020: Stepping Forward virtual event. Our 15 minute presentation is embedded below. Titled: #Disruption, the presentation centered on how the media industry has been forced to rapidly shift from a B2B/wholesale model to a direct-to-consumer/retail model to prevent being replaced by massively scaled tech platforms.…
2020 will likely end with multichannel video subscribers (MVPD/vMVPD combined) nearing 70 million subscribers — a level that the industry has not seen since 1997. As cord-cutting accelerates, all eyes are now focused on direct-to-consumer streaming apps. After waiting far too long, all the major media companies have realized they have no choice but to…
Sling TV launched in February 2015, ushering in a new category of multichannel video programming distributors, which we now call vMVPDs (virtual MVPDs). Within four years, the vMVPD category rose from non-existent to over 11% of total subscribers, with ~9.3 million subscribers on a base of around 82 million vMVPD/MVPD subs combined at year-end 2019.…
UPDATE 2: WarnerMedia has clarified that there will be one exception to what we detailed earlier today. On Roku devices only, the HBO Now app will be rebranded HBO and live on for an unspecified period of time. So the only place you will find two versions of HBO after July 31st is on Roku…
When most investors talk about the streaming wars, they focus on Netflix, Amazon and the Disney+/Hulu/ESPN+ bundle. With HBO’s transformation into HBO Max and the hiring of Jason Kilar to oversee WarnerMedia, AT&T is clearly trying to reposition itself as a single destination with content for everyone, much like Netflix and Amazon Prime Video, and…
Legacy Media Outlook Dims While valuation multiples have expanded as a result of massive financial stimulus, we are estimating that the pay TV ecosystem (MVPDs/vMVPDs) shrinks by a record 2.5 million subscribers in Q2 2020. The 2.5 million drop follows a previous record drop of 2 million subscribers in Q1 2020. In the past 12…
Last Monday, we highlighted the DOJ’s role in mitigating any drama between Dish and T-Mobile. (Link) In the days that followed, media reports had warned of a possible complete collapse of the sale of Boost to Dish. Here’s a quick update. We expect a July 1st closing of Boost and do not see a reasonable…
TikTok usage is simply exploding. The platform is aging up rapidly beyond its youthful origins and the content verticals/genres are expanding well beyond its roots in lip sync, dance and comedy; it even became an important source for real-time videos from protests in the past few weeks. The COVID-19 pandemic has brought in new users…
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