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PLDT Home posts huge 2023 growth

PLDT Home scored big again in 2023, posting a record ₱60.4 billion fiber-only revenues representing 88% of the total Home earnings that were added up for the year.

This comes from the 234,000 fiber net additions for the year that brought total fiber subscribers to 3.2 million as of end 2023.

These figures were released today as part of the full-year media briefing of PLDT as reported to the Philippine Stock Exchange.

The report added: “PLDT Home’s fiber-only service revenues continued to grow, registering a 9% or ₱4.5-billion increase, to a record ₱53.0 billion in 2023.” 

Asked by this writer if satisfied with the growth of the Home sector, Jeremiah Dela Cruz, Senior Vice President, Consumer Business Home Group said that “we want to grow even more.”

“Growth would come from two areas. We are gonna accelerate the rollout in 2024. So we will actually have significant rollouts in new ports and new areas we will be fiberizing. The second area is actually a very strong focus in terms of service. That we provide the best possible service. Whether that’s the quality of service that the broadband offers in terms of speed but also in terms of speed of repairs and how we serve our customers,” Dela Cruz answered.  

Recently, PLDT started rolling out next generation fiber technology, with the first commercial deployment of XGS-PON in the Philippines. This brings ultra-fast Gigabit Fiber plans to PLDT Home customers, with speeds ranging from 1 Gbps to 10 Gbps, on par with developed countries like the US, South Korea and Singapore. This groundbreaking Fiber broadband service ushers in a new era of connectivity that gives customers an unmatched digital experience, with internet speeds of up to 100 times faster than the average 100 Mbps connection at home. 

PLDT Home just announced a pioneering innovation that capitalizes on the robustness of the group’s fixed and mobile networks. A first in the industry, the new Always-On broadband service delivers uninterrupted connectivity for PLDT Home customers. By leveraging on PLDT’s fastest fixed infrastructure and Smart’s robust wireless network, this innovation provides a seamless, ultra high-speed connection ensuring customers 24/7 access for work, study, or entertainment. 

In the report, parent company PLDT Inc. stated that its Gross Service Revenues grew by 3% or ₱6.5 billion to ₱201.8 billion, while Consolidated Service Revenues (net of interconnect costs) grew by 1% or ₱2.2 billion to a record ₱191.4 billion in 2023. Excluding revenues from legacy businesses, data and data-related net services revenues were higher by 6% year-on-year. 

Data and broadband, which grew by 4% or ₱5.9 billion to ₱157.6 billion, contributed 82% of consolidated service revenues. 

These are described as “sustatined record numbers” by Cathy Yap-Yang, head of PLDT’s Corporate Communications.