Sky Cable confident about broadband business despite new entrants
The cable unit of ABS-CBN Corp. is upbeat about the prospects of its broadband business amid strong demand from its subscribers.
“If you actually look at the requirements of the Philippines, there is a lot of opportunity for a broadband service. That’s why we think, the reason why our broadband service from Sky Cable is growing because there is really a need for broadband service and this is an area we can be competitive in terms of pricing,” said Aldrin Cerrado, CFO at ABS-CBN Corp.
“There are still about 750,000 homes that our infrastructure can service but they haven’t converted into Sky Broadband. About 35 pervent penetration of those households, would definitely increase subscriber base by about 100,000 immediately and 100,000 is almost 50 percent increase,” he added
Sky Cable’s total subscriber base stood at 1.3 million as of the end of September, 23.9 percent higher than the previous year.
Its net income rose 8.7 percent to P75 million in the first nine months, up by 8.7 percent year on higher revenues.