PCCW: Huang Viu subscription revenue increased by 13% year-on-year and will continue to prioritize investment in high-growth markets

PCCW (00008.HK) Acting Group Managing Director and Group Chief Financial Officer Xu Hanqing stated that the number of paid users on its OTT platform Viu (Yellow Viu) increased by 1.3 million year-on-year to 16.8 million, with subscription revenue growing by 13% year-on-year, as the group optimized its high-end package pricing strategy to enhance monetization capabilities; in the future, it will continue to prioritize resource allocation in high-growth markets to leverage economies of scale.

Looking ahead to this year, the group will launch several new initiatives, including a collaboration with HBO Max and a streaming bundle that combines Asian and Hollywood content, which has already been launched in five Southeast Asian markets, hoping to further enhance market penetration. Additionally, the Viu short dramas launched in January this year have already achieved a user penetration rate of over 11% in the first three weeks.

As for the local free television ViuTV (Blue Viu), Xu Hanqing indicated that the number of digital members increased by 3.6% year-on-year to 3.4 million last year, and viewership during prime time on weekdays also rose by 6.7%. Compared to peers, the proportion of viewers under 44 for "Blue Viu" reached 38%, making it attractive to advertisers in industries such as finance, dining, beauty, and fitness.

In terms of artist management, the group held a total of 28 performances across 11 concert series last year and promoted individual and group performances to enhance artist appeal. This year will see the return of more group concerts, along with an expanded roster of artists, which is expected to continue driving revenue growth in this area