MANILA -- Broadband revenues of the Home segment of PLDT Inc. has increased by 12 percent to PHP27.3 billion in the third quarter this year, driven by strong subscriber demand for online video content, the company's management announced Monday.
This, as consumers are increasingly shifting from traditional broadcast television to video on demand services, which allows them to watch their favorite programs at their most convenient time, according to PLDT and Smart Senior Vice President and Head of Consumer Business Market Development Oscar Enrico A. Reyes Jr.
“People’s growing appetite for online video has helped raise the broadband penetration of PLDT Home to an all-time high of just under two million customers in the first nine months of 2018, an increase of 8 percent year-on-year in unique data service subscribers. This has boosted Home revenues by 12 percent in the third quarter of 2018 to P27.3 billion,” Reyes said in a statement.
This was in reaction to a recent study on The State of Online Video 2018 by Limelight Networks, which showed that viewers in the Philippines watched the most online videos each week at eight hours and 46 minutes out of 10 countries including the United States, Japan, France, Germany, Singapore and South Korea.
“Throughout the country, the demand is for fiber-powered Home broadband that can provide quality viewing of online video,” he added.
PLDT’s fiber broadband coverage for the first nine months of 2018 reached 5.75 million homes, surpassing its full year target of 5.3 million homes due to the expansion of its fiber optic cable network. Its total capacity reached 2.25 million ports, which is more than its target of 2.20 million ports for 2018.
"The continuing expansion of PLDT’s fiber optic cable network which provides the vital foundation for the development of the Group’s fixed and mobile networks has enabled the group to surpass several key full-year 2018 roll-out targets three months ahead of schedule," according to PLDT.
The company has allocated PHP 58 billion in capital expenditures this year for the rollout of its fixed and mobile networks. (PNA)
