Globe broadband sees 88% price reduction within 4 years
Public Company Information:
Globe broadband prices have declined substantially over the last four years, with price reduction ranging between 68% to 88%, amid the steady uptake of the telecommunication operator’s wired broadband services.
Currently, a broadband connection with a speed of 10 Mbps is offered at P1,299 per month, the plan comes with 100 GB data allocation and a six-month free subscription to NBA League Pass, Netflix, and HOOQ. This represents a 68% decline from a price offer of P3,999/month for the package in 2013. Also, a broadband service with speed of 50 Mbps is currently offered at P1,899/month, a price reduction of 78% from P8,499/month in 2013, while a broadband connection with speed of 100 Mbps is currently offered at P2,499/month, representing an 88% price dip from P19,999/month offered for the same package in 2013.
Globe President & CEO Ernest Cu said the company is now putting more emphasis on its home broadband and fixed internet operations as years of focus on its mobile services has successfully propelled the company to become the country’s leading mobile brand. This is alongside the company’s thrust to provide first world internet to more Filipino families by allowing them access to high speed internet plans.
“As more customers are getting into home entertainment and video streaming services, it has become more imperative for us to expand the reach of our broadband network to provide our customers with a more reliable and robust high-speed internet connection,” said Cu.
In line with its strategy of bringing focus on its broadband services, Globe plans to roll out 400,000 ultra-fast broadband lines within the year, to bring a minimum internet speed of at least 10 Mbps. Such plan supports the company’s initiative of improving fixed internet in the country and redefining the home broadband experience of Filipinos. With the target deployment of 400,000 lines by the end of 2017, the company plans progressive deployment within the next three years until 2020 to serve at least 2 million homes.
Globe Telecom’s focus on its broadband operations has started to bear fruit, as the company’s broadband revenue at the end of third quarter last year reached P10.7 billion attributed mainly to continued customer base expansion. This is a 38% rise from a year earlier revenue of P7.8 billion. By end of September last year, the company had a total of 1.15 million broadband subscribers which is a 12% increase from 1.03 million a year earlier.