StarHub Entertainment subscribers down 6,000 in 1Q 2023Thursday, May 11th, 2023
SINGAPORE — StarHub reported today net profit attributable to shareholders (“NPAT”) of $37.5 million for the three-month period ended 31 March 2023 (“1Q2023”). This marks a 26% year-on-year (“YoY”) increase from $29.7 million in the equivalent quarter a year ago (“1Q2022”), due mainly to growth registered across all segments, contributing to higher profit from operations achieved.
Over the last quarter, StarHub has added new Infinity Play products to fuel growth – such as the launch of the 10Gbps UltraSpeed plan (Singapore’s first 10G-XGS-PON nationwide trial) to encourage migration towards the higher-bandwidth Broadband plans; as well as continuous enhancement of its content offerings for the Entertainment business, especially for the sports category, where it has observed strong take-up of additional Entertainment passes and sports content packages from Premier League subscribers. Meanwhile, StarHub continued to record robust growth in 5G subscribers alongside nationwide 5G coverage achieved.
Total Entertainment subscriber base* increased 4K YoY and declined 6K QoQ. Average monthly churn rate** reduced to 0.8% in 1Q2023 (4Q2022: 0.9%; 1Q2022: 0.8%).
1Q2022 4Q2022 1Q2023 ------ ------ ------ ARPU $37 $45 $43 Total subscribers (K) 364 374 368
* Includes residential Pay TV subscribers with and without over-the-top (“OTT”) subscriptions, as well as Mobile and Broadband subscribers with OTT subscriptions. Comparatives have been restated to take account a change in subscriber definition.
** Referring to churn from traditional Pay TV only.
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