CONVERGE ICT Solutions Inc. is planning to roll out a nationwide satellite direct-to-home television service within the year, co-founder and CEO Dennis Anthony Uy said.

Uy told reporters that the company was currently testing the service, noting that "we have a direct-to-home franchise already, and we need to open that soon, maybe within the year."

"Traditional pay TV is sunset already. You need to go to OTT (over-the-top), streaming, IPTV (internet protocol TV) — that's the [new] pay TV direction," he added.

In 2021 Converge launched Vision, an all-in-one home entertainment add-on service powered by its fiber broadband network in partnership with Pacific Kabelnet Holding Co. Inc. (PKN).

The company also offers BlastTV, a streaming platform that showcases a library of TV shows and channels. BlastTV's global content partners include NBCUniversal, Paramount Pictures, Sony Pictures, MGM Television, and Lionsgate.

Converge earlier reported a net income of P6.26 billion from January to September last year, slightly higher than the P6.1 billion recorded a year earlier.

Consolidated revenues grew to P26.2 billion in the nine-month period from P24.5 billion.

The residential business generated P22.5 billion, higher than the P21.4 billion posted a year earlier. A total of 2.04 million subscribers were recorded as of end-September 2023.

Enterprise revenues, meanwhile, rose to P3.8 billion from P3.1 billion last year, which was attributed to double-digit growths across all segments.

The small and medium enterprise sector, in particular, was said to have grown by as much as 37.9 percent compared to the same period last year.

Converge ICT's share price fell by four centavos to P9.78 on Friday.