Video market set for slower growth ahead
NETHERLANDS 15 DEC

Video market set for slower growth ahead

The video market is made up of the slowly contracting pay-TV segment and high growth at streaming providers. Following the flurry of new entrants and exits in recent years, it's starting to calm down, giving a better idea of what underlying organic growth may look like. We look here at the outlook ahead of the publication of the most recent edition of Telecompaper's quarterly report on the Dutch TV-video market. The trends point to a somewhat faster contraction in pay-TV revenues, as well as slower growth i

Netflix buys Warner Bros to deepen content catalogue
GLOBAL 8 DEC

Netflix buys Warner Bros to deepen content catalogue

Netflix has won the bidding to acquire Warner Bros. The strategic value of the deal is a huge back catalogue to help Netflix expand its offering to consumers. This gives the company a classic Hollywood studio to add to its own limited output since 2012. The price is high, and Netflix's leverage will increase, but the risk is manageable. Regulators are unlikely to stop the deal, but a higher bid from Paramount could.

KPN's mixed performance in Q3 raises questions for strategy day
NETHERLANDS 31 OKT

KPN's mixed performance in Q3 raises questions for strategy day

KPN showed a net contraction on the broadband market in Q3 but its mobile business was surprisingly strong. Given the current changes in the market - multi-gigabit speeds at Ziggo and Odido's response plus growing competition in wholesale - KPN needs to focus on strengthening and expanding its fibre and mobile networks. The management had promised to reduce capex from 2027 and is unlikely to renege on that goal. That means working more on the cost side. We look here at the results from Q3, ahead of the Dutc

Stock markets breaking records but what happened to Odido's IPO plans?
NETHERLANDS 27 OKT

Stock markets breaking records but what happened to Odido's IPO plans?

Rumours of an IPO for Dutch operator Odido have been circulating for almost a year now. Still, there is no news on a listing, despite the positive stock market climate. We look here at possible reasons for the delay.

The rise of Oracle and the Ellison family
GLOBAL 17 SEP

The rise of Oracle and the Ellison family

Oracle is reportedly part of a consortium that will acquire an 80 percent stake in TikTok US, according to the Wall Street Journal. The news comes as founder Larry Ellison has risen to the number two spot on the world billionaires list, with a current wealth thought to be around USD 368 billion. His next target may be Warner Bros Discovery. What more could be coming?

Telefonica reportedly building war chest, but what for?
EUROPE 8 SEP

Telefonica reportedly building war chest, but what for?

Telefonica is in the midst of a strategic review, with the results expected before the end of the year. This has sparked a wide range of rumours, with the main theme: strengthening its position in Europe. Various options are on the table for its current markets Spain, Germany and the UK, but also elsewhere in Europe. The most likely is consolidation in Germany with a takeover of 1&1.

Netflix outperforms Disney with high growth and confident outlook
GLOBAL 4 SEP

Netflix outperforms Disney with high growth and confident outlook

Netflix's latest financial results and improved forecasts for 2025 underline the company's high growth and confidence it commands. The operating margin continues to climb, reaching 34 percent, which is higher than competitors such as Walt Disney's linear business (30.7% in most recent quarter). The free cash flow is also developing very favourably. Netflix's valuation is now more than double that of Walt Disney, despite Disney generating twice as much revenue. It shows high growth and confidence. It is the

Dutch telecom market enters uncharted territory - what will happen in next 2 years?
NETHERLANDS 20 AUG

Dutch telecom market enters uncharted territory - what will happen in next 2 years?

The Dutch telecom market is entering uncharted territory. KPN will complete the main phase of its network upgrade next year, and Open Dutch Fiber and Delta Fiber are also nearing completion of their investment plans. VodafoneZiggo is hoping to turn around its fortunes with a Docsis upgrade and new pricing, and Odido needs to prove it can create just as much value with its asset-light operating model as a vertically integrated telco. We look here at the potential outcomes over the next two years - which are

Odido: the case for mobile-only
NETHERLANDS 16 JUL

Odido: the case for mobile-only

Dutch operator Odido has completed a period of high investment. With capex falling, it has some financial breathing room, but is still suffering from cash burn due in part to debt financing costs. At the same time, competition is intensifying, putting in question whether its current 'follower' strategy needs to be updated to an actual 'challenger' move. This could involve making FWA more central to its strategy. A mobile-only approach would help improve margins and free up more cash for investment in the mo

New CEO at Proximus: what's on the agenda?
BELGIUM 24 JUN

New CEO at Proximus: what's on the agenda?

Proximus has named Stijn Bijnens its new CEO from September. He comes from Cegeka, a Belgian competitor on the ICT market that is also linked to wireless operator Citymesh. He arrives at Belgium with work waiting for him - from improving margins to streamlining infrastructure and facing down new competitor Digi. 

VodafoneZiggo facing sharp rise in interest costs from 2027 as debts come due
NETHERLANDS 13 JUN

VodafoneZiggo facing sharp rise in interest costs from 2027 as debts come due

VodafoneZiggo is going through a difficult period and now doing everything it can to stop the loss of customers. At the same time it faces a much bigger problem on the horizon: starting in 2027 it must raise at around EUR 13 billion to refinance its debts maturing in 2028-32. The Dutch operator's turnaround strategy must work if it is to manage the refinancing in the current interest rate environment. If not, the shareholders will be forced to contribute. 

Why VodafoneZiggo is right to cut prices
NETHERLANDS 15 MEI

Why VodafoneZiggo is right to cut prices

VodafoneZiggo has been losing cable customers for eight quarters. A key pillar in the Dutch operator's new strategy is a price cut implemented in March. We expect the company may have overdid it with an 8.5 percent price increase in 2023. The new CEO's move to lower prices makes sense, and if the company skips the annual tariff hike for existing subscribers this year, it could go a long way to winning back customer trust. 

NETHERLANDS 6 MEI

KPN starts 'war on churn'

KPN's first-quarter results were in line with expectations. Even with a trade war on the horizon, it appears the Dutch operator is comfortable with its targets for the coming years. The potential to increase prices, lower costs and reduce the investment budget puts the company in a good position, but there is one structural problem KPN is facing: losing customers to increased competition. On the retail side, that is mainly Odido, which is preparing itself to look good for a stock market listing, along with

NETHERLANDS 21 MRT

WhatsApp launches Dutch charm offensive

WhatsApp is launching a campaign this week to inform Dutch users about the privacy level of its messaging app. "Your privacy is our priority," reads a message that may have reached millions of users. The campaign appears to be a charm offensive in response to declining popularity and the rise of alternatives like Signal, especially in the Netherlands. WhatsApp executive Will Cathcart also downplayed the growth of Signal in interviews with Dutch media.

NETHERLANDS 6 FEB

KPN's new FMC offer provides boost for Netflix and ESPN

KPN has launched a new offer for customers taking both fixed and mobile services. The previous deals KPN Compleet and KPN Hussel have become KPN Combivoordeel, with the most recent addition a free subscription to Netflix, ESPN Compleet or 1Password. We expect the offer will provide a boost to the video services, winning them many new clients. For Netflix, it could be as many as 125,000 subscribers, and for ESPN Compleet around 20,000 new customers.

GLOBAL 28 JAN

DeepSeek shows AI can be fundamentally better and cheaper, meaning a double-edged sword for incumbents

China's DeepSeek has given a shock to the AI market with the launch of its R1 model. The company shows that the new models can compete at dramatically lower costs. What are the implications? And who are the winners and losers? The tech-heavy Nasdaq stock market fell 3 percent in a day, but there is more going on. Ultimately this development is good for the AI market - only a quick response is needed from anyone interested in staying relevant in this market. Betting on the wrong horse could be fatal. The sit

EUROPE 8 JAN

Consolidation candidates in 2025: Altice units, fibre operators and private equity holdings

With convergence having been a key driver of acquisitions in recent years, we are now entering a phase where newly created FMC operators may be put up for sale. Potential candidates can be found in various segments and countries, ranging from Altice subsidiaries SFR and Meo in France and Portugal to fibre operators in the Netherlands and the UK and an asset-light operator such as Odido. This could be in the form of a sale to a telco or investor, but an IPO could also be an option.

BELGIUM 18 DEC 2024

Fluvius peer comparison offers insights into Delta Fiber, ODF valuation

The Belgian regulator Bipt has published a report on the valuation of assets from Fluvius contributed to the joint venture Wyre, set up with Telenet. The report concluded the value assigned of EUR 1.01 billion was acceptable, with no signs of obvious undervaluation. What can we draw from this about the valuation of assets at peers like Delta Fiber and Open Dutch Fiber?

GLOBAL 2 DEC 2024

Broadcasters and streamers headed for the same profit margins

Linear TV is not going away but the experience is shifting from traditional TV to streaming. How are the two camps doing in this transition? Broadcasters are seeing their margins shrink, leading to consolidation on the market, while streamers are still often in the red. Alongside Netflix, players such as Disney+ and Max have a good chance of growing into global providers. The question though is whether they will ever reach the same profit margins as with traditional TV.

EUROPE 28 NOV 2024

New challengers arise as telco multinationals crumble due to lack of synergies

The reshuffling of interests on the European telecom market is continuing. The old multinationals are often a shadow of their former selves. Most recently we saw Sunrise becoming independent. The trend underlines the difficulty of realising synergies across borders. Some of those operators spun off on their own are now becoming challengers in their own right. In time they may have their own stock market listings, as rumoured for Odido. 

NETHERLANDS 12 NOV 2024

KPN is a clear 'bull' case but 'bear' scenario not unthinkable

The case of Dutch operator KPN can easily have a positive conclusion. Its performance is good, and the fibre roll-out makes the company ready for the future. Nevertheless, there are risks, especially in terms of competition. 

GLOBAL 6 NOV 2024

Customer loyalty is created by rewarding customers, not with lock-in

Customer loyalty in the telecom sector takes various forms. A central concept is customer 'lock-in', which benefits more the company than the customer. Realising a good loyalty programme is a harder nut to crack. Consumers don't want more of the same or to pay for services they don't use. A key element missing in many current schemes is increasing the benefits the longer a customer stays with the company. 

NETHERLANDS 14 OKT 2024

Odido launches 5G FWA with aggressive pricing, making quality key to success

Fixed-wireless access over 5G has reached the Netherlands with the launch of Odido's 'Klik&Klaar Internet' service. Available nationwide, the service comes at a competitive price, making 5G a serious contender on the internet market. The risks include cannibalisation and the relatively new technology - can the network support the demand? Consumers will likely be asking similar questions, making the quality perception key to the service's success. The price is good enough to attract consumers with a slow con

NETHERLANDS 1 OKT 2024

VodafoneZiggo may try Delta Fiber takeover if Uefa strategy, cost savings not enough

We recently looked at the expected impact of VodafoneZiggo taking the rights to Uefa football. The positives include extra revenues from Ziggo Sport Totaal, reduced churn among existing customers and the potential to attract new customers. On the downside, the company must pay for the new programming, which we estimate costs around EUR 200 million per year. If the strategic move does not prove successful, what are VodafoneZiggo's other options? Cost savings are already on the table, and in our view, a merge

Just In

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Telegram, Twitch, Pinterest, TikTok find in Russia for violating social media content rules

13:17

Italy business and consumer morale rise again in December

13:15

Digita deploys 5G private network at Outokumpu's Kemi mine

13:05

Traficom announces new sender ID rules from May 2026 to curb scam SMS

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins