PLDT sees rapid growth for SVOD services
Philippine Long Distance Telephone Co. ( PLDT) and wireless arm Smart Communications Inc. are expecting a rapid growth in subscription video on demand (SVOD) services in the country in step with global trends.
PLDT president and chief executive officer Napoleon Nazareno said the company has partnered with Southeast Asia’s leading Internet TV service provider iflix to cope with the strong demand.
“Consumer viewing habits are going through a major shift towards online video, including video on demand. Our partnership with iFlix places us in an excellent position to meet that demand through a very affordable, high quality video on demand subscription service,” Nazareno said.
A recent report on the Global OTT TV & Video Forecasts from Digital TV Research disclosed the number of homes globally with SVOD subscriptions would jump by 485 percent from 20 million in 2010 to 120 million by end- 2015.
The report said the number is expected to reach 250 million by 2020.
PLDT executive vice president Ariel Fermin said the Philippines is moving in line with global trends.
“With iflix, PLDT and Smart can offer the widest library of video content to more Filipino homes when and where they want it. Our subscribers can access and enjoy more than 11,000 hours of TV and movie entertainment from the best content providers around the world,” Fermin said.
At affordable monthly rates that start at P99 per month, Fermin said PLDT HOME and Smart subscribers nationwide could view all the video content at home or using their TV screens, desktop computers, laptops, tablets and smartphones.
iflix chairman Patrick Grove said his company is excited to join forces with the PLDT Group.
“With over 75 million Filipinos communicating and being entertained using the PLDT Group services, PLDT is the perfect partner for iflix in the Philippines,” Grove said.
PLDT chairman Manuel V. Pangilinan earlier said the company is looking at increasing its initial investments in the video-streaming provider.
Last April 23, PLDT announced it was infusing $15 million into Southeast Asia’s leading Internet TV service provider to make available top TV shows and movies to 600 million consumers in the region. Kuala Lumpur-based leading investment firm Catcha Group infused another $15 million.
The PLDT Group made its biggest foreign investment when it spent €333 million to acquire a 10 percent stake in Rocket Internet last Aug. 7. The stake of PLDT in Rocket Internet was diluted to 6.1 percent after the German firm went public but the value of the investments has gone up to € 434 million in early June.
Likewise, PLDT’s wireless arm Smart Communications Inc. initially invested P1.54 billion for a 33.3 percent stake in a joint venture company with Berlin-based Rocket Internet AG.
Apart from the Philippines, iflix would soon be available in other countries including the United States, Hong Kong, Seoul, Shanghai, Thailand and Tokyo.