“We know exactly what gen z’ers want. And that is Netflix” That quote came from Jimmy Kimmel at Disney’s Upfront yesterday. And while it was obviously part of his satirical monologue, the past week shows that the legacy media industry has finally capitulated and is embracing Netflix’s thesis for entertainment, non-sports/news content:
T’was the day before the NBA draft lottery and all was quiet for MSG and MSGN investors. MSG investors are “still waiting” for the completion of the spin of MSG Sports from MSG Entertainment, and any details on a budget for the MSG Spheres. Meanwhile, MSGN investors are uneasily watching as the multichannel video ecosystem comes unraveled,…
We believe tower stocks are in the early stages of a shift in their investor base. This means tower stocks could rise even higher. However, this could also generate some near-term volatility, as telecom investors grapple with valuation multiples that are beyond the top-end of historical ranges and free cash flow yields that are in…
SoftBank Group reported slightly better than expected EBITDA and invested another $10 billion into the Vision Fund this quarter.
Net debt increased $47 million largely from a $33 million payment of withholding tax on RSUs.
Next week, the annual TV upfront will kick into high gear with each of the major legacy media companies talking about their 2019-2020 television line-ups and why advertisers should continue to spend upwards of $70 billion across broadcast and cable TV. What they will not talk about is that the most iconic non-sports TV programming…
We have lost confidence in GTT’s ability to stem the decline in revenue. As we stated in our last note, we believe investors were willing to tolerate +/- 0.75% sequential organic growth. (Link) However, the more than 1% sequential decline in revenue this quarter was disappointing given the optimistic comments made by management over the…
Sprint’s Cash EBITDA was $135 million better than expected on lower gross additions and device upgrade rate. As-reported EBITDA was $38 million lower than our estimate.
While Disney failed to generate the $20 billion-plus it had hoped initially from the sale of the 22 Fox Regional Sports Networks (RSNs) it was required to divest as part of its acquisition of 21st Century Fox assets, walking away with ~$12.6 billion in cash was far better than we expected after Fox itself bowed out…
Two recent quotes define the record level of cord-cutting that occurred in Q1 2019: “I don’t think the consumer really wants to buy 150-200 channels of programming, for a fairly significant price when they’re not interested in many of those channels” – Disney’s Bob Iger, April 12, 2019 “At one point, the gain on the virtual MVPD…
You must be logged in to post a comment.