Fixed-term licences in e.g. terrestrial TV and mobile operations can lead to market disruptions. Especially the on-going re-allocation of frequencies between terrestrial TV and mobile broadband leads to changes in the both markets. DTT operators need to improve frequency efficiency while mobile operators get new resources to meet the increasing demand for data. New licences and re-awards of existing licences also enable new operators to enter and thus markets may turn from monopolistic or oligopolistic to a more competitive setting. JM Economics provides full-scale advisory in licence applications to incumbents and new entrants.