PLDT Inc. is optimistic that its home broadband service business will sustain growth this year via fiber expansion and new and innovative services.
"We are... confident we could do better this year, especially as we usher the era of hyper-fast Gigabit internet connectivity, introduce innovative products and services as well as vastly improve customers' experience," PLDT Senior Vice President Jeremiah de la Cruz said.
"We will also leverage on the strength of PLDT's fixed and wireless networks to deliver seamless connectivity, by introducing an industry-first 'always on' service for customers to enjoy uninterrupted access for work, education, and entertainment even in cases of outages," he added.
PLDT's Home segment led the industry in fiber revenue growth in 2023, with an increase of P4.5 billion or 9.0 percent year on year to P53 billion. The fiber business accounted for P60.4 billion or 88 percent of home revenues, up 1.0 percent from 2022, when it accounted for 81 percent.
Total fiber subscribers at the end of 2023 stood at 3.2 million, with net additions of 234,000, helping PLDT Home keep the biggest share of the market. Average revenue per unit stood at P1,493 in 2023, up slightly from 2022, even as Home expanded its network to underserved and unserved markets.
The PLDT Group's planned P75 billion to P78 billion capital expenditure this year will focus on projects that would increase home broadband ports and invest more in submarine cable upgrades to drive revenue and support further growth in network traffic.
Data traffic averaged 53,545 terabits per quarter in 2023, nearly double the quarterly average of 27,445 TB in 2022.
The group is also looking to reaccelerate its footprint expansion, with greenfield barangay as priority sites. It is also deploying an updated passive optical network standard that makes it possible to offer gigabit fiber plans or connectivity of up to 10 gigabits per second.
"With our chairman, Manuel V. Pangilinan, setting a clear goal that is beyond profit — a return of the group to its premier position in the industry, Home has its work cut out for it, and we are up to that challenge," de la Cruz said.
"We have to push our already dominant position in the market further by increasing our subscriber count and ensuring customers' loyalty by enhancing customer experience, [ensuring] network security, and providing innovative services."
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