Hong Kong’s telecoms major PCCW is set to expand its Viu Over the top (OTT) service to other geographies including India and Indonesia. The company has shared information on this as part of its 2015 results announcements.
BG Srinivas, Group Managing Director of PCCW, said that in the coming year the Group would continue to embrace the changes brought by the increasing digital lifestyle of consumers and digital transformation of enterprises.
“There will be increasing demand for content, connectivity, IT and cloud capabilities to drive business efficiencies and enhance customer experience, such as real time big data analytics which is made possible with the advance of Internet of Things (“IoT”). As a customer-centric organization, the Group will continue to build our offerings and innovations to meet the future needs of our customers in the medium and longer term, thereby also benefiting from this trend. In this regard, our media, IT solutions and telecommunications businesses can collectively play a significant role and contribute to the overall growth of the Group,” he said.
“While maintaining our leadership in the Hong Kong pay-TV market, PCCW Media will be actively rolling out the Viu over-the-top (“OTT”) video service internationally. Following the launch in Hong Kong, Singapore and Malaysia, Viu will have expanded presence in Indonesia and India in the first quarter. The service will capture the growing digital advertising and online subscription market. It is our goal to become the preeminent multi-screen video entertainment hub for Asian content in the region, and ultimately globally,” Mr. Srinivas said.
“On domestic free television, HK Television Entertainment Company Limited has assembled a creative team of professionals in preparation for the commencement of broadcasting in April 2016. It has embarked on the production and acquisition of quality content to bring over 4,000 hours of fresh programming each year to offer Hong Kong viewers more choices in TV entertainment,” he added.
Srinivas said, “PCCW Solutions has identified a number of growth drivers and will capitalize on the increasing market demand for digital, IoT and cloud solutions and facilities in Hong Kong and mainland China. A recently launched cloud solutions suite, “Infinitum”, offers customers comprehensive enterprise business applications and digital and analytics solutions.”
“As the leader in Hong Kong’s telecommunications market, HKT will continue to provide high quality, high speed and reliable connectivity across its portfolio of fixed line, broadband and mobile communications services. In addition, HKT together with the Media business will continue to leverage our unique quadruple-play capabilities. These advantages enable HKT to constantly innovate on value-added services to complement its strong core offerings, thereby making solid and steady contributions to the Group,” he said.
Srinivas concluded, “While both the local and global economic outlook in 2016 appears fragile, given our strong fundamentals, our efforts taken to transform ourselves in this digital era as outlined earlier, and a talented pool of staff who are motivated to excel, the Group is well-positioned for sustainable growth as it continues its journey to become a major player in the region.”
The directors (“Directors”) of PCCW Limited (“PCCW” or the “Company”) are pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively the “Group”) for the year ended December 31, 2015. Some key figures are as follows:
PCCW registered a solid result for the year ended December 31, 2015 demonstrating resilient operational and financial performance while continuing to reinvest and drive future growth.
Core revenue for the year ended December 31, 2015 increased by 19% to HK$39,149 million. Core EBITDA increased by 16% to HK$12,139 million. These results in particular reflect the successful integration of CSL Holdings Limited and the accompanying financial benefits.
Including PCPD, consolidated revenue for the year ended December 31, 2015 increased by 18% to HK$39,314 million and consolidated EBITDA increased by 15% to HK$11,878 million.
Core profit attributable to equity holders of the Company increased by 23% to HK$2,370 million in 2015 from HK$1,931 million in 2014. Excluding the one-time gain on disposal of the entire interest in Pacific Century Place, Beijing by PCPD in 2014, the consolidated profit attributable to equity holders of the Company from continuing operations increased by 36% to HK$2,117 million in 2015.