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Manila Bulletin devider Business devider The Stock Market devider PLDT Home eyes over 50% fiber revenue share in 2024

PLDT Home eyes over 50% fiber revenue share in 2024

Published Apr 18, 2024 02:08 pm

PLDT Inc.'s home broadband unit PLDT Home is aiming to further boost its fiber revenue share for the residential segment this year, going above the 50.6 percent share it recorded in 2023.

"Rest assured, end of 2024, we would have grown our revenue share. You'll see growth in the fiber business, it will continue. In 2023, you saw nine percent. We do want to see continuous growth in 2024," said PLDT Senior Vice President and Head of Consumer Business - Home Jeremiah de la Cruz in a press interview on April 18.

Last year, de la Cruz noted that PLDT Home capture 60 percent of the growth or increment seen in the fiber boom in 2023, leveling at 50.6 percent in the overall revenues split across other telco fiber network providers.

By the end of 2022, PLDT Home logged just over 49 percent in revenues share.

On a year-on-year basis, it posted a nine percent growth to P53 billion in fiber revenues in 2023.

"So just over 50 percent of all fiber revenue in the Philippines in residential was generated by PLDT. We want to grow that," he added, marking 3.2 million fiber-to-the-home (FTTH) customers by end of last year.

In terms of average revenue per user (ARPU), PLDT Home is also hoping to improve their figures. In 2023, it recorded 11 percent higher ARPU at P1,493, with churn rates at 1.8 percent. It has also utilize 59 percent of its ports.

"We need to show that actually we're outpacing the market...As you know, that's the ultimate measure. Revenue share is an important part for us," said de la Cruz.

This growth will be driven mainly by the fiber business, he remarked, aligned with PLDT's plans this year to reaccelerate their fiber rollout, deploy more fiber to barangays, and invest in expanding their networks and improving service level for pre- and post-sales.

"Our goal is clear: we want to further elevate the experience of our customers by providing the best-in-class broadband connection and innovative products and services to more Filipino families. We plan on leveraging our multiple technologies and tailor-fitted packages to enable connectivity to every home," he said in a statement. 
 

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