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Monday, September 26, 2016 11:44:52 PM
"Satellite operator Inmarsat was founded 40 years ago to let ships communicate with land so rescuers could aid sailors. The maritime business, which still provides half of sales and operating profit, set it apart from rivals who were focused on broadcasting and broadband. As a result, the British company had lower margins than peers but was insulated from the competition and macro-economic storms that buffeted others.
Now, amid the tumult of a capacity glut in the sector, even Inmarsat is getting dragged under water. Advances in high-throughput satellites are bringing more bandwidth online than ever. This oversupply, which might triple capacity by 2020, will pressurize sales and margins for all the big satellite players. Since Eutelsat issued a profit warning in May, investors have punished the sector.
That even Inmarsat, with its one-time maritime fortress, is getting hit shows how far the contagion has spread. It also highlights a less understood change in the satellite business: how the capacity boom obliterates the once clear distinctions between the different satellite companies and the markets in which they operate.
Before, there was clear separation between fixed satellite service providers and mobile. Inmarsat dominated the latter while SES, Eutelsat and Intelsat ruled in fixed. Now, in the scramble to sell new capacity, the different players all encroach on each other's turf"...SNIP
... Blurred Lines...
[...]
... Choppy Waters...
for the rest:
http://bloomberg.com/gadfly/articles/2016-09-26/trouble-at-sea-for-commercial-satellites
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