Steady rise in household penetration of multiplay service bundles and increase in average monthly household spending on tripleplay and quadplay services are set to drive the multiplay service revenue in Singapore at a compound annual growth rate (CAGR) of 7 per cent from $1.09 billion in 2020 to $1.53 billion in 2025, according to GlobalData, a data and analytics company.
GlobalData’s Singapore Multiplay Services Forecast reveals that the multiplay service penetration will increase from an estimated 74 per cent in 2020 to 85.8 per cent by the end 2025, supported by fibre-optic network expansion by fixed operators to deliver bundled plans built around high speed Internet services.
Kantipudi Pradeepthi, Research Analyst of Telecoms Market Data & Intelligence at GlobalData, commented: “Tripleplay services will account for the largest share of multiplay subscriptions in Singapore through the forecast period while quadplay services will see its subscription share grow from 9.8 per cent in 2020 to 15.3 per cent in 2025. However, doubleplay subscriptions will see a drop in the share of total subscriptions from 23.3 per cent in 2020 to 17.9 per cent by 2025.
“Singtel and Starhub are leveraging their vast fibre-to-the-home (FTTH) network to accelerate multiplay adoption, with the goal of lowering churn and increasing revenue-generating units (RGUs). Singtel will continue to lead the tripleplay and quadplay segments in terms of subscriptions through 2025, driven by promotional discount offers on bundled telecom plans to attract new subscribers,” adds Pradeepthi.