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SAVE THE DATE: 4th Annual MoffettNathanson Media & Communications Summit | May 17-18, 2017 | New York, NY

To register, please click here.

Conference Call Replay: Available HERE

Conference Registration: Click HERE

Summit Registration: Click HERE

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Conference Call | Snap, Inc.: Field of Dreams?

With Snap pricing its IPO on Wednesday, March 1st, what do we know about the nascent platform’s relative positioning versus other major social networks, its monetization prospects, and valuation? As Snap is still incredibly early in its monetization ramp, its future is theoretically a “Field of Dreams” as it has made many proactive decisions to sidestep numerous pitfalls plaguing competitors.  On the other hand, Snap’s demographic composition, slowing DAU growth, and limited operating history could offset the monetization narrative.

In a clients-only conference call, Michael Nathanson and Perry Gold attempt to answer several key questions such as whether Snapchat is the next Facebook, Twitter, or something altogether different, how robust Snap’s user and monetization trajectory could be out of the gate, and what Snap’s IPO pricing implies for valuation. 

Date: Tuesday, February 28, 2017

Time: 10 am ET; 3 pm UK

Conference Call Materials: Will be distributed prior to the call

Conference Call Replay: Available HERE

Conference Registration: Click HERE

Summit Registration: Click HERE

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Conference Call Replay | Media, Telecom, and Cable: Swipe Right… An M&A Playbook

February 7, 2017 7:00 AM PDT / 10:00 AM EDT

With the broadcast incentive auction nearing its close, investors are increasingly anticipating a frenzied wave of M&A. AT&T has already staked out its territory by buying Time Warner. What deals will come next? Will Verizon buy Cable? Or will they buy Media? Or spectrum? And will Cable buy wireless, or content? Will mergers be horizontal or vertical? What will the FCC allow? And what of the DOJ, or state PUCs? 

While we confess to having a somewhat more sober view than most, there is no escaping the impact of M&A, or at least speculation about M&A, on the Media, Telecom, and Cable sectors. In a clients-only conference call on Tuesday, February 7, Craig and Michael discussed the pros and cons of the myriad combinations that have been, or might soon be, proposed.

Conference Call Materials: Available HERE

Conference Call Replay: Available HERE

Conference Registration: Click HERE

Summit Registration: Click HERE

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Conference Call Replay | Wireless 2017: Optimism vs. Pragmatism

January 17, 2017 7:00 AM PDT / 10:00 AM EDT

The broad thematic underpinnings of the post-election rally in telecom are easy to understand.   Consolidation, lower corporate taxes, and less regulation all arguably portend higher multiples in 2017.   As pragmatists, however, we can’t help but worry that the post-election rally has been suspiciously devoid of any real analysis of numbers.  And, more concerning, it has been devoid of any serious inquiry into valuation.  In short, numbers, and valuations, appear too high. 
 
In a clients-only conference call, Craig Moffett and Cathy Yao discussed their 2017 outlook for the sector, highlighting two significant developments that appear not to be factored into Street estimates: the return of handset subsidies and T-Mobile’s new, ARPU-dilutive “all-in” pricing plan.  

Conference Call Materials: Available HERE

Conference Call Replay: Available HERE

Conference Registration: Click HERE

Summit Registration: Click HERE

 

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