Well
@mistaTea won't be happy. Basically nothing there to set the heart racing. Personally, I'm not completely dissatisfied, as it's all in keeping with my expectations (rightly or wrongly) that SKT is focused on stabilizing satellite subscribers whilst they slowly build up streaming subs, and use the global ructions (increasing content supply & content price pressures) to become NZ's aggregator of choice.
I think this has a better-than-even chance of working, without having enormous conviction about it. My sense is NZ is in a unique enough position, and SKT has sufficient local scale advantage & sufficient locked-in sports rights, to make this work.
All that said, the risk/reward remains attractive for me. I'd have more conviction if management were more invested (as in, even
moderately invested). So will not up my portfolio position from the current 7% (circa).
I understand many have good reason to be sceptical about this strategy.
