On Wednesday, March 18th, we joined LUMA Partner’s Terry Kawaja for a Work From Home (WFH) Webinar on Streaming Wars and the Future of TV. For the first 29 minutes, Kawaja gave a presentation on the intensifying battle between legacy media and the explosive growth of streaming video platforms (broken down into four parts: the…
Just short of a month ago, we initiated on Live Nation with a BUY rating and $100PT, calling LYV “A Rare Combination of Growth and Safety.” That was the top of the stock. That same day, it became clearer to the market that COVID-19 was not just a China problem anymore. The rest is sort…
The question we keep getting is what happens to advertising during a pandemic and ensuing recession, particularly when the key driver of TV advertising, sports, are all suspended (see our sports-focused post, link). The honest answer is we are not exactly sure, especially given how hard it is to know how long the COVID-19 pandemic…
Yesterday (link), we laid out the math behind why movie studios were more likely to delay potential blockbuster films (those that could do $1-$2 billion in global box office), versus trying to release them directly to consumers via some form of premium video-on-demand (PVOD). However, we also wrote that the PVOD math could make sense…
We expect the entire US movie exhibition industry to be forcibly shut shortly, after exhibition chain leadership teams failed to act to protect the public (NYC and LA have already announced theaters must close). Not to mention, every major film studio has delayed their entire film slate for months, if not into 2021, so there will be nothing new for theaters to show. Without movies in movie theaters, the entire sequential release pattern of movies that is carefully orchestrated …
Dish and other 600 MHz spectrum owners have agreed to allow T-Mobile to use their spectrum for the next 60 days in response to possible increased network demands stemming from the Covid outbreak. This should provide a noticeable upgrade to the performance of T-Mobile’s network. In our note, we discuss how soon T-Mobile can deploy…
Back in 2008, National Amusements, the controlling shareholder of Viacom and CBS (which were separate entities at the time), was forced to sell shares in both companies after the value of both companies collapsed (impacting the collateral value against NAI debt). In our November 2008 blog post, we highlighted then-Viacom and CBS Chairman and Chairman…
While the global coronavirus pandemic is clearly growing more serious by the day, it still came as a shock to hear the NBA season was suspended, just hours after the NBA decided to shift to playing games in arenas without fans (Mavericks owner Mark Cuban’s reaction to the news captured it best in the ESPN clip embedded to the right). In our coronavirus thought piece last week (link), we highlighted the risks from sporting event cancellations. With the suspension…
While everyone is rightfully focused on growing fears around #coronavirus (see our thought piece on key issues around the pandemic from last Friday, link), we thought it would be useful to lay out the most impactful takeaways from Q4 2019 earnings with our own thoughts/snark following each memorable management quote. Dish CEO Charlie Ergen: Inevitable…
Given the worsening global #coronavirus pandemic, we thought it would be helpful to lay out what it has us thinking about in terms of our broader coverage universe from the impact on the movie business, television, gaming, sports, advertising, streaming and beyond. While we hope the brainstorming over the impact of coronavirus proves unnecessary, here…
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