19
June
2023
ASTRO POSTS REVENUE OF RM891MN IN Q1FY24
ARPU Boosted by New TV Packs and Broadband Bundles
Astro Malaysia Holdings Berhad (AMH) | Result highlights for the first quarter of the financial year ending 31 January 2024 (Q1FY24):
Normalised PATAMI* at RM62mn; PATAMI at RM16mn
EBITDA 36% q-o-q to RM248mn
ARPU RM1.30 y-o-y to RM98.70
Broadband base 28% y-o-y
First interim dividend of 0.25 sen per share
Amid persistent macroeconomic headwinds and foreign currency volatility, Astro posted revenue of RM891mn in Q1FY24 with broadband and enterprise segments showing positive trajectory y-o-y. EBITDA rose 36% q-o-q to RM248mn in Q1FY24, due to higher sports content cost in the previous quarter, Q4FY23. The Group recorded Normalised PATAMI of RM62mn in Q1FY24; PATAMI was impacted by higher unrealised forex loss due to transponder lease liabilities as the US Dollar strengthened.
The Group remained cash generative and proactive in its capital management. The Board of Directors has declared a first interim dividend of 0.25 sen per share, exercising caution as Astro continues to reinvest in its transformation for long-term growth.
Euan Smith, Group CEO of Astro said: Our bold playbook is transforming Astro into a digital, streaming company. About 25% of our customers are now enjoying our new streaming TV packs, which offer 11 premium streaming apps on top of our sparkling slate of Astro Originals and live signatures, sports, movies, news and kids. Our new TV packs, which can be bundled with our own internet service, Astro Fibre, continue to see good take up as customers can seamlessly stream on demand entertainment and enjoy greater value. As such, our ARPU has grown by RM1.30 y-o-y to RM98.70 inQ1FY24. Astro Fibre had a great first year, driving our broadband base higher by 28% y-o-y. In a market where viewing share is dominated by local content, Astro is Malaysias largest content creator, originating winning local originals like One Cent Thief, Projek: High Council and Liar; and local signature IPs like Gegar Vaganza Season 9 and Big Stage. Our latest movie blockbuster, Polis Evo 3 grossed ticket sales of RM50mn so far and is the No.1 movie in Malaysia beating all Hollywood blockbusters.
Our OTT aggregation strategy is advancing. WeTV is the latest to join Astros growing family of streaming apps, namely BBC Player, beIN SPORTS CONNECT, Disney Hotstar, HBO Go, iQIYI, Netflix, TVBAnywhere , Viu and ZEE5, in addition to our own Astro GO. Streaming on Ultra and Ulti boxes, as well as on Astro GO is growing significantly, with On Demand shows streamed jumping 31%y-o-y to 194mn in Q1FY24. Ultra and Ulti Boxes installs grew 42% y-o-y to 860k while Astro GO saw its monthly active users rise 7% y-o-y to 566k, with average weekly viewing time of 3.5 hours, Euan added.
Key Highlights
Live Sports, Astro Originals Creating Waves of Excitement:
o As the official broadcaster, Astro is firing up excitement for Liga Malaysia with its high-quality coverage and on-ground activities. We have already recorded a total TV audience of 5.9mn while response for Liga Malaysia Pack is tracking above expectation with take-up of 58k on Astro and NJOI
o Andai Itu Takdirnya, emerged as the No.1 TV show On Demand during Ramadan with TV viewership of 932k with 483k shows streamed while live signature show Sepahtu Reunion AL Puasa garnered TV viewership of 996k with 496k shows streamed
Astro Fibre Now Available to Additional 118k Homes in Sabah: Partnered Celcom Timur (Sabah) to provide high-speed broadband to a potential of 118,000 homes in Kota Kinabalu and major towns in Sabah
Q1 Adex Supported by Ramadan and Raya: Total industry Adex, including Astros, moderated post year-end festivities and the FIFA World Cup Qatar 2022. Astro recorded Adex of RM99mn in Q1FY24, supported by Ramadan and Raya. Radex, TV Adex and Digital Adex share stood at 79%,33% and 2% respectively. Astro Radio brands continued to rank No.1 across all languages, registering 18.0mn weekly listeners on FM and online. SYOK saw its podcast monthly listens increased by 14% y-o-y to 921k while Astro digital brands registered 7.8mn monthly unique visitors
sooka Wins Over Young Local Football Fans with Liga Malaysia: Digital natives usage is growing on sooka, the Groups standalone streaming service, as a result of Liga Malaysia now being available on mobile devices and Smart TVs. Over 217k watched over 43mn minutes of Malaysian Football League (MFL) action. Sales of Single Match Passes exceeded 136k while over 11k Liga Malaysia Passes were sold. Overall, sooka, which has over 28k hours of content library, achieved 1.2bn minutes watched to date, with 70% of users on mobile
Protecting the Media and Entertainment Industry Against Piracy: For the common good of the entertainment industry and to protect the rights of paying customers, it is critical that anti-piracy measures are effectively enforced. Astro continues to work closely with the authorities and industry stakeholders to protect copyrighted content. Recent actions against piracy and copyright infringement:-
o On 3 April 2023, a 22-year-old student was fined bythe Kuala Lumpur Magistrates Court for having in his possession anunauthorised link to a popular local TV drama series on his devices
o On 5 April 2023, two individuals were charged at the Kuala Lumpur Session Court (Cyber) for selling TV boxes with unauthorised Astro content
o On 13 April 2023, two individuals were fined RM14,000 in total by the Kluang Magistrates Court for selling TV boxes pre-loaded with unauthorised Astro content
o On 16 June 2023, an individual was fined RM20,000 by the Kuala Lumpur Sessions Court for selling TV boxes pre-loaded with unauthorised Astro content
Driving Sustainability: Astro continues to be guided by its 5 pillars - Respo
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