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The Philippines still has a low penetration rate of 20 percent in the fixed broadband market, versus the 46 to 60 percent penetration rate of its neighbors in Southeast Asia.

For this reason, the country has much room for growth, stressed PLDT Home executives in their Nov. 9, 2021 virtual press briefing.

So far, PLDT Home added 324,000 customers in the third quarter of the year, ending September with a market leading customer count of 2.09 million.

“We quickly saw the increased demand for fiber and we immediately responded by scaling our expansion and installation capabilities,” said Butch Jimenez, PLDT Senior Vice President and Head of PLDT Home Business.

“We are on track to achieve our target to connect more than 1 million customers to the country’s fastest broadband in 2021,” he added.

In the third quarter, PLDT Home’s fiber-to-the-home service revenues hit P9.0 billion, up 83 percent versus the same period in 2020.

Total PLDT Home revenues grew 25% to P35.3 billion in the first nine months of the year, bolstered by the record revenue increase in the third quarter, up 29 percent to P12.6 billion.

In terms of capex, PLDT poured in P46.8 billion of its P84.5 billion capital spending in the first nine months of 2021 into network upgrades and expansion.

The company’s fiber network reached more than half of total Filipino households, passing 12.7 million homes.

The country has a total of 25 million households .

Total fiber capacity of PLDT Home now stands at 5.29 million ports after it rolled out additional 1.7 million fiber ports in September, three months ahead of schedule.

PLDT Home’s fiber business contributed more than 19% to PLDT’s total service revenue of P46 billion in the third quarter, up from 11 percent in the comparative period.


Source: Manila Bulletin (https://mb.com.ph/2021/11/09/pldt-home-much-room-for-growth-in-ph/?utm_source=rss&utm_medium=rss&utm_campaign=pldt-home-much-room-for-growth-in-ph)