The Telecompaper Global Media Index was up 1.9 percent in week 44, beating the S&P 500's gain of 1.5 percent. There were some big winners, including Zee Entertainment (+29%), ComScore (+28%), Spotify (+22%) and MTG/Modern Times Group (+22%). Criteo (-16%) and McClatchy (-14%) were the biggest losers. Much of the news was either earnings or VOD related.
Conglomerates
AT&T, owner of WarnerMedia, reported its Q3 results along with portfolio adjustments in Latin America, Europe, the US and a strategic review of DirecTV. The company also laid out targets for the next three years. WarnerMedia detailed its HBO Max service, for launch in May 2020. Pricing is set at USD 15 per month, but it will be a free add-on for regular HBO subscribers in the US. Distribution deals for the UK/Ireland, with Comcast's Sky, and for Canada, with Bell Media, raised questions about the service's international expansion strategy.
Comcast's upcoming Peacock service was similarly planned as a free add-on for Comcast cable subscribers and as a SVOD service for non-subs, but according to press reports Comcast could pursue an AVOD service for all, i.e. a free service supported by advertising.
Apple, as planned, launched its Apple TV+ service priced at USD 5 per month, but free for new Apple device owners and students taking the Apple Music service.
AT&T ended week 44 up 5.5 percent, whereas Comcast was down 2.0 percent.
Internet
Alphabet reported disappointing Q3 results and said it was acquiring wearables company Fitbit for USD 2.1 billion. Facebook had solid Q3 results but there was news of the EU launching an antitrust investigation into its Facebook Marketplace practices. Twitter said that it would stop accepting political advertising altogether, as opposed to Facebook's more lenient approach. Pinterest's results come out below market expectations.
Alphabet ended week 44 up 0.7 percent, Facebook was up 3.0 percent, Twitter lost 2.2 percent and Snap gained 8.7 percent.
Content
Sony reported results and said that it was closing its PlayStation Vue streaming television service in the US. Spotify reported strong Q3 results. MTG (Modern Times Group) reported as well and sold its Zoomin unit. Electronic Arts published its results and said that it was returning to the Steam platform. In Walt Disney news, CEO Bob Iger's successor could be the current Disney+ head Kevin Mayer, the press suggested.
Sony ended week 44 up 5.0 percent. Spotify and MTG both won no less than 22 percent. Walt Disney gained 1.4 percent.
Boadcast and advertising
ComScore benefitted from news of Discovery working with the firm for viewing statistics, and possibly Nexstar. Criteo and AMC were down on disappointing Q3 reults, whereas TV Azteca was up despite a drop in Q3 revenues.
The battle of Vivendi and Mediaset for control of the Mediaset assets continued with a restarted lawsuit in the Netherlands. A Milanese court is expected to rule on Mediaset's handling of the matter shortly. Mediaset Spain and M6 reported Q3 results. An Atresmedia shareholder, Mediapro, said that it was considering selling its 4.2 percent stake.
ComScore ended week 44 up 28 percent, whereas Nexstar lost 5.4 percent and Discovery was down 1.1 percent. Criteo lost 16 percent and AMC Networks lost 7.8 percent. TV Azteca's gain for the week was 10 percent. Vivendi was up 0.5 percent, Mediaset won 0.4 percent and Mediaset Spain lost 1.4 percent. Atresmedia gained 1.3 percent.
