All the pieces matter; Reframing football club valuations; A week in CVC-land; Ears front - the rise of audio; Gen Z viewing habits shocker; Mocking The Masters is easy, so let's do that
All the pieces matter; Reframing football club valuations; A week in CVC-land; Ears front - the rise of audio; Gen Z viewing habits shocker; Mocking The Masters is easy, so let's do that
To the football valuation story above, there are more salient conclusions:-
1. Despite claimed fan numbers, the reality is that Man Utd et al don't know how many fans they have. Their databases are a fraction of the size of Tik Tok etc.
2. Their valuations are already a very racy multiple of their relatively low profits (in a good year), and they've been around a long time. The world's two largest clubs are struggling with huge debt burdens.
3. Their medium term prospects are threatened by stagnating major revenue streams in terms of domestic media rights and sponsorship, and ground to make up with pandemic-related losses.
Major football clubs may be able to change their business models to break through the 'trophy asset' barrier, but there is a great deal of change required in the football ecosystem for that to happen.
To the football valuation story above, there are more salient conclusions:-
1. Despite claimed fan numbers, the reality is that Man Utd et al don't know how many fans they have. Their databases are a fraction of the size of Tik Tok etc.
2. Their valuations are already a very racy multiple of their relatively low profits (in a good year), and they've been around a long time. The world's two largest clubs are struggling with huge debt burdens.
3. Their medium term prospects are threatened by stagnating major revenue streams in terms of domestic media rights and sponsorship, and ground to make up with pandemic-related losses.
Major football clubs may be able to change their business models to break through the 'trophy asset' barrier, but there is a great deal of change required in the football ecosystem for that to happen.