Analysts at SVB MoffettNathanson (MN) recently held their first Media & Internet TMT Conference with a heavyweight portfolio of expert speakers. The consensus was that the broadcasting industry were “relatively optimistic” for advertising demand in the CTV, AVoD and sports-led linear segments. However, speakers were asked about the impact from some network programmers who ‘cheat’ […]

The chair of AMC Networks, James Dolan, helped by a couple of family generations involved in the pay-TV business, has bluntly said that the streaming business model is broken. He added that while some M&A could help, such deals are not the answer. Analysts at MoffettNathanson (MN) agree with Dolan and say that change in […]

A post-results report from analysts at MoffettNathanson (MN) admitted that 2022 was a “challenging year” for Paramount. MN praised SVoD service Paramount+ and its 56 million subscribers (up 9.9 million), but suggested that investors should be focused on free cash flow (FCF) as the true measure of a business. The problem is that last year’s […]

Michael Nathanson, senior analyst at MoffettNathanson (MN), is on record as welcoming the return to Disney of Bob Iger. MN promptly upgraded its advice to clients on Disney last November (to ‘Outperform’) following Iger’s re-appointment. But MN’s latest study lists in some detail the tasks ahead for Iger. “Iger’s return will force Disney to have […]

Analysts at MoffettNathanson (MN) welcomed the return of Bob Iger as CEO. They were not alone. The market responded well to his rehire, but now MN rightly asks ‘What’s next?’ and recognises the tough tasks ahead for Iger and his team. “Cord-cutting is now running over -6 per cent, the Parks [division] cash engine can […]

Analysts at MoffettNathanson (MN) are – perhaps justifiably – impressed by Disney’s rehiring of its former boss Bob Iger. His new contract might just be for two years, but the appointment significantly improves Disney’s prospects, according to the firm. MN’s report upgrades the Walt Disney Co to ‘Outperform’, and while congratulating the Disney Board of […]

Fox Corp and News Corp have confirmed they are considering putting the two businesses back together. Both Murdoch companies have created special committees to evaluate the idea. But analysts at MoffettNathanson (MN) suggest the move might be premature. MN say this current proposal was not exactly how they envisioned the Fox endgame playing out. They […]

A report from analysts at MoffettNathanson (MN), quoting Jeremi Gorman, Netflix’s new president of worldwide advertising, says that Netflix has almost sold out its available inventory for the launch of its ad-supported tier. A Netflix Q3 earnings call scheduled for October 18th should reveal more details, however, MN agrees with Netflix’s own expectations that the […]

A report from analysts at MoffettNathanson (MN) cautions that while cord-cutting in the US reached new heights during Q2 2022 trading announcements, the market may be “underestimating the structural declines in linear cable and broadcast network viewership which will pressure near-term advertising revenues”. MN describes the 39 per cent year-on-year declines in total day broadcasting […]

Analysts from MoffettNathanson (MN), having examined in some detail the pro-forma numbers from Warner Bros Discovery (WBD) are concerned. WBD says its EBITDA guidance for 2023 will be about $12 billion (€11.7bn), and thus two billion less than previously expected. MN says even these reduced numbers are dependent on profits from linear cable networks which […]