TrueVisions subscribers down 300,000 versus 2Q 2020

True Group reported total revenue of Baht 33,797 million and service revenue of Baht 26,648 million in the second quarter of 2021, driven by healthy subscriber growth of mobile, broadband, and digital businesses, despite revenue decline at TrueVisions along with continued impact from the COVID-19 outbreak.

TrueVisions

TrueVisions’ service revenue was Baht 2,381 million in 2Q21 with key revenue stream from subscription contributing 61.5% of its service revenue, a slight increase from 60.8% in the previous quarter. The business has been affected by the COVID-19 outbreak along with its clients in the hotel sector, consumers’ being more prudent on spending and lower arrangement of entertainment events. TrueVisions aims to capture growth potential in the OTT market and better monetize its comprehensive range of international and local contents, strengthened by its position as the King of Sports, through “TrueVisions NOW” content streaming services. This move is expected to generate additional revenue stream and to expand its total customer base beyond 3.7 million at the end of Q2 while at the same time enhancing stickiness of its customers by allowing them to seamlessly watch content anywhere and anytime via True Group’s multiple platforms.

TrueVisions subscribers (millions):

                  2Q20  1Q21  2Q21
                  ----  ----  ----
Premium package    0.2   0.1   0.1
Standard package   2.1   1.9   1.8
Freeview package   0.3   0.3   0.3
Free-to-air box    1.4   1.4   1.4
                  ----  ----  ----
Total              4.0   3.8   3.7

True Digital Group

True Digital Group continued to expand ecosystem and maintained solid growth momentum. TrueID, its digital media platform, grew revenue by 77% YoY and 15% QoQ in the second quarter of 2021. The platform accelerated its monthly active users to more than 25 million users and reached the new high on average monthly video views of 265 million per month. With the focus on strengthening contents in TrueID platforms, its entertainment content sales increased 17% YoY while sport content, including exclusive English Premier League content, were 3.3 times higher than Q2 of last year. TrueID also expanded its entertainment product portfolio with an official launch of TrueID+, a paid online streaming subscription service of on-demand exclusive entertainment content on its omnichannel platforms including TrueID application, website, and TV box. At the same time, TrueID TV boxes achieved higher scale with 2.5 million boxes shipped.

TrueID (millions):

                     2Q20  1Q21  2Q21
                     ----  ----  ----
TV Boxes              1.4   2.4   2.5
Monthly Video Views   219   240   256