Tag Archives: dish

Verizon CEO: Go90 ‘Overhyped,’ But ‘Expectations Are Realistic’

Verizon Communications ‘ ( VZ ) Go90 mobile video service was “overhyped,” Verizon CEO Lowell McAdam said at an investor conference Tuesday. McAdam downplayed expectations for Go90, speaking at the JPMorgan financial conference in Boston. “I think maybe it did get a little over-hyped, and I’m sure we contributed to that to a certain extent,” McAdam said. “We didn’t believe it was going to move the needle on a $130 billion revenue stream overnight. It’s one of those things you have to work into.” Verizon has not disclosed how many subscribers it has for the ad-supported Go90 service, which targets millennials (ages 18 to 34) and “Gen Zers” (teens). Launched in September, Go90 provides a mix of original Web TV series, live sports, concert streaming, prime-time TV and other offerings. Verizon’s Go90 is usually lumped with emerging over-the-top (OTT) video services, such as  Dish Network ‘s ( DISH ) Sling, but the mobile app also competes for millennial attention with the likes of Alphabet ( GOOGL ) parent Google’s YouTube,  Facebook ( FB ), Instagram and Snapchat. “We have seen enough success to make us excited about continuing to work it. We’re on pace,” McAdam said. “Bottom line is that Go90 is in a good spot from our perspective. We’re going to continue to pursue it. But our expectations are realistic.” At an analyst meeting in April, Verizon executives indicated they might expand Go90 to multiple video streaming platforms this year. As for speculation that Verizon remains the front-runner to acquire the main business of Web portal Yahoo ( YHOO ), McAdam acknowledged interest, though it’s not the first such acknowledgement by Verizon executives. “We can’t talk about Yahoo, but that’s a possibility,” McAdam said at the conference, news website TheStreet reported .  “That’s a possibility to gain greater scale.” Verizon stock was up a fraction, near 49.50, in midday trading in the stock market today .

Verizon CEO: Go90 ‘Over-Hyped,’ But ‘Expectations Are Realistic’

Verizon Communications ‘ ( VZ ) Go90 mobile video service was “over-hyped,” Verizon CEO Lowell McAdam said at an investor conference Tuesday. McAdam downplayed expectations for Go90, speaking at the JPMorgan financial conference in Boston. “I think maybe it did get a little over-hyped, and I’m sure we contributed to that to a certain extent,” McAdam said. “We didn’t believe it was going to move the needle on a $130 billion revenue stream overnight. It’s one of those things you have to work into.” Verizon has not disclosed how many subscribers it has for the ad-supported Go90 service, which targets millennials (ages 18 to 34) and “Gen Zers” (teens). Launched in September, Go90 provides a mix of original Web TV series, live sports, concert streaming, prime-time TV and other offerings. Verizon’s Go90 is usually lumped with emerging over-the-top (OTT) video services, such as  Dish Network ‘s ( DISH ) Sling, but the mobile app also competes for millennial attention with the likes of Alphabet ( GOOGL ) parent Google’s YouTube,  Facebook ( FB ), Instagram and Snapchat. “We have seen enough success to make us excited about continuing to work it. We’re on pace,” McAdam said. “Bottom line is that Go90 is in a good spot from our perspective. We’re going to continue to pursue it. But our expectations are realistic.” At an analyst meeting in April, Verizon executives indicated they might expand Go90 to multiple video streaming platforms this year. Verizon stock was up a fraction, near 49, in early trading in the stock market today .

Dish Network Not Running Out Of Time On Spectrum Deal: Jefferies

Investment firm Jefferies added Dish Network ( DISH ) to its “franchise pick” stock list, saying Wall Street “has an overly bearish view” on the satellite TV broadcaster. Analyst Mike McCormack set a year-end 2017 price target of 80 on Dish stock, on views that its strategy of cobbling together radio spectrum for wireless or mobile video services will pay off. “We value Dish’s spectrum portfolio at nearly $45 billion on a pretax basis, or roughly $32 billion on a tax-adjusted basis,” McCormack said in a research report. Dish stock was up more than 3% in morning trading in the  stock market today , near 46, but it’s still down nearly 20% in 2016, and off 33% from a year ago. Dish has a low IBD Composite Rating of 19 out of a possible 99. Dish Network has amassed some 77 MHz of radio spectrum, spending some $15 billion in the process. However, the company lacks a wireless partner to deliver mobile video services over that spectrum. Verizon Communications ( VZ ) has stated it’s not interested in acquiring Dish Network’s spectrum but might be open to a wholesale network deal, analysts say. Dish — along with  AT&T ( T ), Verizon and  T-Mobile US ( TMUS ) — have filed as bidders in a federal auction of airwaves now owned by local TV broadcasters. The auction, begun in late March, might drag on until Q4. Depending on the auction’s outcome, wireless firms may be more or less interested in partnering with Dish Network or buying its spectrum. “We believe there are many outcomes and opportunities to realize value for Dish shareholders,” added McCormack in the report. “On concerns Dish is ‘running out of time,’ we believe there is plenty of time for various scenarios to unfold.”