Wireless Cash EBITDA was $175 million better than expected on a lower upgrade rate. Wireless service revenue increased for the third consecutive quarter after 13 quarters of declines.
Netflix ended 2018 with over 60 million total US subscribers, having added more subs domestically in 2018 than in any year since 2013 when they added 6.3 million (see tweet, link). Note: 2013’s 6 million was the most subs Netflix has ever added in a year in the US. What makes the acceleration in Netflix’s net subscriber additions…
The FCC 28 GHz spectrum auction ended today after 176 rounds. Winning bidders will not be disclosed until after the 24 GHz spectrum auction. The 24 GHz auction start date will be announced next week, but should start relatively soon. Bids totaled $702.6 million or $0.0113/MHz/POP.
Organic growth in fiber/small cells decelerated to 5.6% in Q4 after accelerating in the prior two quarters. New leasing activity for fiber/small cells was down $1.8 million sequentially. 2nd derivative growth decelerated to 45% y/y from 90% in Q3.
We are increasingly confident that legacy media companies that try to compete with Netflix (and other tech platforms such as Amazon) will fail as they are unwilling to disrupt their historic business models that have overearned at the expense of the consumer for decades, in addition to their failure to put technology on the same,…
Ahead of Disney’s pending acquisition of assets from Fox (should close later this quarter), they published three years of historical financials under their new reporting segments last Friday (link to 8-K). The most significant shifts for Disney were moving international cable networks, direct-to-consumer streaming assets and digital/advanced advertising businesses to a new segment called “Direct-to-Consumer & International” and combining…
Comcast reported Q4 wireless net additions of 227,000 versus our 300,000 estimate and 245,000 consensus from the T-Mobile IR poll. Comcast’s net adds were flat sequentially compared to 33% and 120% growth in post-paid voice net adds at T-Mobile and Verizon, respectively.
The promise of a 5G economy relies on the ability of cable and wireless operators to build 5G networks. If the US is going to beat China to 5G, it will depend on how quickly these operators can deliver on that promise. We believe T-Mobile is best positioned to deliver real 5G whenever that reality…
Ahead of tonight’s Q4 2018 Netflix Earnings Interview, we wanted to lay out our top 8 questions/issues we have for management (for a look at our key questions heading into Q3 2018, see our October 16, 2018 blog, link): 1) Why is Netflix #1 in the US iOS Download Store? While Netflix has historically benefited from holiday device sales,…
When we upgraded Snapchat to Neutral from Sell on December 20, 2018, we noted that substantial concerns persisted (link). As we head into Snapchat’s Q4 2018 earnings call on February 5th, we believe there are five questions/issues management must address head-on (note: we are calling this “Act II” following our first Dear Evan Spiegel blog in October…
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