Singapore pay-TV revenues to decline at 2.5% CAGR due to increasing adoption of OTT services, says GlobalData

The total pay-TV revenues in Singapore are expected to decline at a compound annual growth rate (CAGR) of 2.5% from US$339m in 2019 to US$298.6m in 2024, due to the falling cable and Internet Protocol television (IPTV) subscriptions as the adoption of over-the-top (OTT) services for video content continues to increase in the country, according to GlobalData, a leading data and analytics company.

GlobalData’s Singapore Telecom Operators Country Intelligence Report predicts that the pay-TV household penetration will decline from an estimated 43.9% in 2019 to 33.8% by year-end 2024 as pay-TV users are increasingly opting for OTT video streaming platforms such as Netflix, which is negatively impacting the pay-TV household penetration in the country.

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Deepa Dhingra, Telecom Analyst at GlobalData, says: “IPTV will remain the leading technology to deliver pay-TV services in Singapore, supported by a major shift from traditional modes of broadcasting like cable towards Internet-based interactive IPTV services over the national broadband network.

“StarHub will continue to be the leading pay-TV service provider during the forecast period, supported by its monopoly in the cable-TV segment and strong foothold in IPTV segment. Moreover, the operator is targeting business customers through its promotion that offers access to any four channels for SGD88/month, below the usual price of SGD428/month, with 36-month contract period.”

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