Satellite operator Eutelsat faces further decline of its broadcast business and an uncertain prospect for investors following its planned merger with low-Earth orbit outfit OneWeb, according to analysts at Berenberg. Following Eutelsat’s first half results announcement on February 17, Berenberg said that the numbers offered “little reason for excitement”. The analysts noted that the core […]
Nordic and international streamer Viaplay’s surprise agreement with Telia in December will boost its Q4 numbers, increasing its subscriber count and providing carriage and ad revenues that will boost revenue and earnings, according to analysts at Berenberg. According to the analysts, its previous downgrade in Viaplay’s 2022 outlook was heavily influenced by the loss of […]
The EU’s European Investment Bank (EIB) has agreed a €300 million financing arrangement with satellite operator SES. The seven-year term loan will back investments related to the design, procurement and launch of three previously announced satellites that will deliver advanced broadcast and broadband services spanning Western Europe, Africa and the Middle East. SES said the loan […]
Coverage of football’s FIFA World Cup will not offset a general decline in TV advertising in Q4 for UK broadcaster ITV, according to analysts at Berenberg. Cutting its 2022 advertising estimates for the broadcaster following conversations with media buyers, Berenberg said that demand seems to be dropping “quite sharply” for the final quarter. The analysts […]
ProSiebenSat.1 could be tempted to look again at MediaForEurope’s proposals for the creation of a pan-European broadcast group after downgrading its guidance for the full year on weaker-than-expected advertising revenue, according to analysts from Berenberg. According to the analysts, ProSiebenSat.1’s appointment of a new CEO, Bert Habets, who will replace former CEO Rainer Beaujean as […]
UK commercial broadcaster ITV faces significant “headwinds coming in advertising” and the consensus view of its financial prospects for this year and next are “too high”, according to analysts at Berenberg. Berenberg’s analysts believe that the commercial broadcaster’s strong first half results were “largely to do with phasing” of costs in media and entertainment and […]
Nordic and international streamer Viaplay has upped its subscriber target after reporting very strong second quarter numbers. The company said it has passed 5.5 million subscribers at the end of June, 69% up year-on-year having added 766,000 subs quarter-on-quarter. Revenue was up 18% on an organic basis, with reported sales of SEK3.725 billion. Operating income […]
Commercial broadcasters are likely to be hit harder than advertising agencies as recession hits the sector next year, according to an analysis be Berenberg. Berenberg says that while a strong first half this year “has somewhat de-risked this year’s numbers”, it sees “cracks emerging” as consumer confidence tumbles and expenditure declines across multiple sectors. Berenberg […]
Analysts at Berenberg have delivered a relatively positive assessment of satellite operator SES and a relatively negative view of rival Eutelsat – in line with the investment bank’s recent view of the pair’s contrasting fortunes but a reversal of its position a few years ago. Berenberg argued that SES’s shares are under-priced despite performing strongly […]
Broadcaster Mediaset España saw a modest increase in revenues and a significant drop in earnings and profit in the first quarter as costs mounted and the group’s share of a muted advertising market failed to grow in line with rivals. The broadcaster’s net revenues rose by 2.2% to €188 million, while adjusted EBITDA fell by […]
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