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Assumptions Regarding Secular Aspects Of U.S. Media & Entertainment Industry Performance
Standard & Poors, March 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Abstract
We are updating our outlook on the extent to which we believe structural forces will affect the performance of the various subsectors within the media and entertainment industry. Structural factors principally relate to evolving technologies or business models that may significantly alter a rated company's, or perhaps an entire industry's, long-term prospects, either positively or negatively. Visibility and time horizons differ by sector in relation to the effects of structural factors. This article highlights media and entertainment companies in the U.S., as this market is one of the broadest and most developed in the world. Although certain geographical and regional variations from U.S. patterns exist, Standard & Poor's believes that the secular and structural trends discussed in this article are,...
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