StarHub pay TV subscribers down 20,000 in 2Q 2019Tuesday, August 6th, 2019
SINGAPORE — StarHub, a leading Singapore company that delivers world-class communications, entertainment, cyber security, info-communications solutions and digital services to consumers and enterprises, today announced its unaudited consolidated results for the quarter and six months ended 30 June 2019.
Commenting on the results, StarHub’s Chief Executive Peter Kaliaropoulos said, “Migration to fibre TV is expected to conclude by end of September. Consumers continue to explore various content options in the market and a lower customer base is impacting revenue with an 8.5% drop for 2Q2019 compared to 1Q2019. We continue to offer more unique content across 7 entertainment passes and allow customers freedom to view the entire collection of channels for the same subscription every month. On our Pay TV base, we now have 374,000 customers, after the quarter’s net reduction of 20,000 customers. However, we registered the highest net adds growth in the last six quarters with 14,000 new residential households taking up broadband to reach a total of 509,000 services at the end of 2Q2019.”
Pay TV revenue at $64.7 million, witnessed a 23.6% YoY decline for 2Q2019 over the same period in 2018. For the half year, revenue declined 18.1% YoY. Total number of Pay TV customers was at 374,000 for 2Q2019 with an ARPU of S$44.
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