Panama’s mobile data, fixed broadband, and pay-TV services revenue totalled $1.4 billion in 2018. This is expected to grow to $1.6 billion in 2023, at a compound annual growth rate (CAGR) of 2.8 per cent, according to data and analytics company GlobalData.
Cable Onda represented a majority 61.8 per cent of total fixed broadband lines as of 2018, followed by Cable and Wireless Panama. To maintain its leading position, Cable Onda, which was acquired by Millicom in 2018 for $1 billion, will continue its high speed HFC network expansion investments; aiming to offer an enhanced broadband experience to its customers.
By acquiring Cable Onda in Panama, Millicom made great strides toward increasing focus on an investment grade country with a dollarised and fast-growing economy. Cable Onda significantly enhances Millicom’s B2B capabilities and completes Millicom’s Central America footprint and connects existing network connectivity with Milllicom’s biggest operations in Colombia.
Ivan Maldonado, Technology Analyst at GlobalData, comments: “Unsurprisingly, the pay-TV market is also led by Cable Onda, with 57.4 per cent share as of 2018 by subscriber count, and focuses on offering converged multiplay services to add new pay-TV subscriptions. Millicom’s recent acquisition of Cable Onda will support this strategy as it strengthens the operator’s financial position.”