{"id":713,"date":"2012-04-25T13:29:05","date_gmt":"2012-04-25T12:29:05","guid":{"rendered":"http:\/\/www.ispreview.co.uk\/?p=713"},"modified":"2012-04-25T13:32:03","modified_gmt":"2012-04-25T12:32:03","slug":"morgan-stanley-warns-of-margin-risk-for-talktalks-new-uk-tv-service","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2012\/04\/morgan-stanley-warns-of-margin-risk-for-talktalks-new-uk-tv-service.html","title":{"rendered":"Morgan Stanley Warns of Margin Risk for TalkTalks New UK TV Service"},"content":{"rendered":"

Global financial services firm Morgan Stanley<\/a> has warned that UK ISP TalkTalk<\/a> faces a near-term Margin Risk<\/strong> from the costs incurred as a result of funding development and launch of their forthcoming TV service, TalkTalkTV<\/strong>, which will be based off the subscription free YouView<\/a> (IPTV) platform.
\n
\nThe budget broadband ISP has also continued to bleed customers<\/strong> and last year suffered repeated blows after Ofcom<\/a> tackled the provider over its poor record of customer support<\/strong> and repeated billing errors<\/strong>. TalkTalk<\/a>’s success, of which the TV solution is seen as a critical part, largely hinges upon whether or not it can turn the situation around.<\/p>\n

Morgan Stanley Statement (Proactive Investors<\/a>)<\/strong><\/p>\n

“Although cost-cutting since the demerger [from Carphone Warehouse<\/a>] has exceeded expectations, negative earnings revisions from YouView<\/a> could lead to share price underperformance in the near term<\/em>.”<\/p><\/blockquote>\n

Morgan Stanley, which notes that the ISPs biggest cost could come from the platforms set-top-box<\/strong> units, has subsequently reduced its target price for the group to 170p<\/strong> (down from 190p). But there is some good news, with Morgan Stanley pointing to longer-term benefits from the ISPs TV solution, which is rather optimistic as we’ve yet to see whether or not the product itself will be attractive.<\/p>\n

The TV market is aggressively dominated by BSkyB (Sky Broadband<\/a>) and Virgin Media<\/a> in the UK, with BT<\/a>’s own ‘Vision’ IPTV platform having failed to make much of a dent since its launch. Suffice to say that TalkTalk<\/a> TV will face a similarly tough challenge, although more competition is a good thing and thus we certainly hope they succeed.<\/p>\n

As a side note, Morgan Stanley seem to expect TalkTalk’s TV service to launch in May 2012<\/strong>, although as we reported last week (here<\/a>) the ISPs official line is now pointing towards a “summer 2012<\/em>” launch window; that’s more than two months away.<\/p>\n","protected":false},"excerpt":{"rendered":"

Global financial services firm Morgan Stanley has warned that UK ISP TalkTalk faces a near-term Margin Risk from the costs incurred as a result of funding development and launch of their forthcoming TV service, TalkTalkTV, which will be based off the subscription free YouView (IPTV) platform.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[45,42,74,102],"class_list":["post-713","post","type-post","status-publish","format-standard","hentry","category-uk_isp_news","tag-video-streaming","tag-iptv","tag-talktalk","tag-youview"],"share_on_mastodon":{"url":"","error":""},"yoast_head":"\nMorgan Stanley Warns of Margin Risk for TalkTalks New UK TV Service - ISPreview UK<\/title>\n<meta name=\"description\" content=\"Global financial services firm Morgan Stanley has warned that UK ISP TalkTalk faces a near-term Margin Risk from the costs incurred as a result of funding\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/2012\/04\/morgan-stanley-warns-of-margin-risk-for-talktalks-new-uk-tv-service.html\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morgan Stanley Warns of Margin Risk for TalkTalks New UK TV Service - 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