Indeed, but it's still fairly ironic that all announcements, good or bad, seem to result in a similar drop in SP...
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And I would rather be in then out when that inflexion point I believe will come,the response will be swift imo.
Nice that Martin left with a cheque for $2.8m
I view the content renewal deals (like the one announced today) as not additive to already guided profitability, but instead are crucial deals to achieving what they already guided for. If they lost access to Warner’s content it would have been a big blow and worthy of downgrading sky’s future prospects. others might disagree, but I think the deal announced today is probably sky’s 2nd or 3rd most important content deal (with NZ Rugby deal being the far and away the most important of course).
Yes, that is exactly how I see it.
Thankfully all the important content deals are now wrapped up for a few years, now there is a multi-year wait for the cricket & rugby deals to be up for renewal again. I think it’s right for the company to trade at a discount to a regular market earnings multiple while it’s access to its most important content remains in the hands of others and could be lost at the next renewal date. There is no way around that, unless it manages a much longer rights deal for rugby (10 years+) or if it somehow managed to create a new highly popular piece of content that it owned 100% of in perpetuity (eg a new sports league of some type.)
Being an aggregator has it's advantages, as consumers might not necessarily want to deal with all the content providers separately, not to mention the possible cost saving in acquiring contents thru an aggregator. The key is to make the SKY experience enjoyable, hence critical for the new box to impress when it comes out next year.
HBO Max Original on Neon available now, got an email at 3:30pm. Good job Sky for rolling this out so quickly, on the day of the announcement. Should be fun having a nosey at what's available this evening.
This is great news bring on the wet weekend watching Neon
I'd say there is a good chance Sky will benefit from ongoing COVID restrictions. I think even once the vaccination rate is high, large gatherings IE sports matches with audiences will not be allowed for fear of super spread events. The next best option is watching it live with some friends, this might provide a tailwind to the STB subs. Search interest in Neon remains elevated but has died down significantly from the first few days of lockdown.
I'm still very on the fence about holding this.