07 May 2020
Posted in Technology
Pay-TV revenues in Vietnam to decline at 3.4% CAGR over 2019-2024, says GlobalData
The total pay-TV service revenues in Vietnam is projected to decline at a compound annual growth rate (CAGR) of 3.4% between 2019 and 2024, primarily due to steady drop in cable and direct-to-home (DTH) subscriptions along with falling average revenue per user (ARPU) levels over the forecast period, according to GlobalData, a leading data and analytics company.
GlobalData’s Vietnam Telecom Operators Country Intelligence Report predicts the pay-TV household penetration in Vietnam to drop from an estimated 37.0% in 2019 to 30.3% by year-end 2024 due to cord-cutting trend and subsequent rise in the demand for over-the-top (OTT) based video services in the country.
Deepa Dhingra, Telecom Analyst at GlobalData, says: “Cable will remain the leading pay-TV technology in terms of subscription base in Vietnam throughout 2019-2024, despite decline in its subscriptions at a 3.3% CAGR over the forecast period. On the other hand, Internet protocol television (IPTV) subscriptions will grow at a CAGR of 1.5% during 2019-2024 primarily supported by the improving fixed broadband penetration in the country.
“VTV is the leading player by subscriptions share in the pay-TV service segment in Vietnam, essentially due to its strong foothold in the cable segment, where it accounted for 46.1% share of the total cable subscriptions in 2019. The second largest pay-TV operator VNPT is aiming to compete in the market by running promotional offers on multiplay packages which bundles pay-TV with broadband services.”