Media, Information & Technology: Public Market Perspectives


We have conducted analysis on the public international media, information and technology equity markets to explore how the broader segments and underlying sub-sectors have fared in terms of valuation and profitability YTD.

We have also analysed how businesses are viewing 2021 in terms of revenue growth projections and recovery.

Key Takeaways

Total equity market value up by 8% since January 2020
The Media, Information & Technology public equity markets continue to perform strongly, with total market value up by 8% since January 2020 against a backdrop which has seen other  benchmark indices fall 5 – 15%.

2020 EBITDA outlook revised down by aggregate $65bn
This growth in total market value has been achieved despite uncertainty around 2020 outlook which currently shows a material decline in the 2020 earnings; notably current. 2020 EBITDA market estimates have come down by $65bn since January 2020.

Average 12% revenue growth forecast for 2021 across sectors
From a valuation perspective, it feels clear that investors are looking through the 2020 numbers and pricing in strong recovery across virtually all sectors, with 12% total market revenue growth forecast for 2021.

From an M&A perspective, whilst the valuation environment remains opaque, it is clear that the strong stock prices which many corporates have sustained through this period will be highly relevant in terms of deal pricing, consideration, and structure.

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