Corporate News

ABS-CBN unit Sky Cable sees higher revenues from ‘Pay TV’

Posted on November 24, 2015

SKY Cable Corp, a unit of ABS-CBN Corp., expects higher revenue contribution from its Pay TV Networks segment this year, as it continues to monetize television content with the launch of its Sky on Demand service on Monday.

“What spurred Sky [Cable Corp.] to get into this business is the realization that we also sell broadband, and because of the growth of the internet and the changing behavior of people, management realized that this is one space that Sky has to be in, in terms of platform for our content,” Jerome Y. Almirante, Sky Cable vice-president for digital and Over-the-Top business, told a media briefing at the company’s headquarters in Quezon City.

Total revenues from the listed broadcaster’s Pay TV Networks business grew by an annual 4% to P6 billion in the first nine months of the year. ABS-CBN’s Pay TV Networks business covers cable television services of Sky Cable and its subsidiaries in Metro Manila and some provincial areas.

Mr. Almirante said the firm expects “increased growth” from the Pay TV Networks segment this year but declined to disclose figures.

Sky on Demand, a product of ABS-CBN’s cable and broadband arm Sky Cable Corp., was launched commercially on Aug. 1. It allows Sky subscribers to catch up on television shows and movies on computers, smartphones, tablets, and television screens any time using Sky broadband connection or Sky Mobi or mobile internet service.

“This will help our cable and broadband business, and help us prepare for future the future… The growth of the Internet changed how people view content, and most of them would like to view them on different devices,” Mr. Almirante said, noting increasing competition from video streaming services iflix and HOOQ. -- Daphne J. Magturo