Pinned Post: Previews and Comps

研报英文原文证据摘录

Pinned Post: Previews and Comps

Foundation

July 17, 2026 04:00 AM GMT

Morgan Stanley & Co. International plc+MInternet & Media | Europe Ed Young

Equity Analyst

Pinned Post: Previews and Ed.Young@morganstanley.comLuke Holbrook +44 20 7677-1761

Luke.Holbrook@morganstanley.com +44 20 7425-1882

Comps David Nolan

David.Nolan@morganstanley.com +44 20 7425-4297

Constantin P Kollmann

Research Associate

Constantin.Kollmann@morganstanley.com +44 20 7425-3268

Key Takeaways

Internet

I&M stocks within our coverage are +0.7% over the past 2 weeks (EuroStoxx - Europe

0.9%). Allegro/WPP/Naspers led, while Vivendi/Hellofresh/Hemnet dragged. Industry View In-Line

Media & Entertainment

2 weeks behind: Ocado, Trustpilot, Evolution, Hemnet, Vend H2'26 Results. Europe

Industry View In-Line

2 weeks ahead: MONY, Havas, Ubisoft, UMG, FDJ, Lottomatica, ITV, Rightmove,

Pearson H1'26 Results.

Quick hits:

Music: The RIAA, IFPI and other music groups have proposed standard streaming

labels distinguishing fully AI-generated tracks from AI-assisted music to improve

transparency for listeners (here); Suno has hired senior former YouTube and Atlantic

Records executives to lead music licensing, partnerships and artist marketing (here);

CVC Capital Partners has agreed to acquire a majority stake in DistroKid (here);

Primary Wave has completed its approximately $1.5bn acquisition of Kobalt (here);

WMG seeking for US court to dismiss the musicians’ union lawsuit seeking

compensation from its AI licensing deals with Suno and Udio (here); WMG and

Netease announce strategic multi-year licensing renewal (here).

Media: Assassin’s Creed Black Flag Resynced sold 2m copies at launch on July 9th

(here); IBM appointed Stagwell as its global lead creative team, ending a 32-year