True Corporation PLC has released results for the first quarter of 2014.
TrueVisions
TrueVisions’ service revenue decreased 10.2% QoQ on a seasonal decline in advertising revenues and 9.7% YoY to Bt 2.4 bn due to lower subscription and installation revenues following weakening economy and political uncertainty. Nevertheless, the decline in subscription revenue became more stabilized.
TrueVisions’ customer base was 2.4 mn at the end of 1Q14 while ARPU declined to Bt 774 in 1Q14 from Bt 802 in 4Q13 due to a change in subscriber mix with higher proportion of standard customers following positive response to the Group’s convergence campaigns.
In April, TrueVisions acquired the two digital terrestrial TV licenses for news and variety channels and started trial broadcasting these channels, the “TNN 24” and “True4U”, in the same month. Meanwhile, the business continued to enhance its portfolio with more top international and local content. This puts TrueVisions in a strong position to capture growth from the digital TV roll out while broadening its marketing opportunity to broadcast its content to a larger audience.
TrueVisions customers (000s):
4Q12 1Q13 2Q13 3Q13 4Q13 1Q14
----- ----- ----- ----- ----- -----
Total 2,042 2,175 2,274 2,368 2,371 2,354
Premium 435 429 393 360 343 327
Standard 308 312 340 387 419 450
Free View 564 616 683 741 740 700
Free to air box 735 816 859 881 870 876
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