countrysingapore
Dare devils No. of pay-TV subscribers (000s)
StarHub is betting on a future that’s more meta than physical, with lots of jargon smoothing the transition from lumpy telco to nimble digital hero. Just don’t count pay-TV among its priorities.
394 381
31 Mar 2019
382 374
383 347
30 June 30 Sept 2019 2019
383 329
382 327
31 Dec 2019
31 Mar 2020
380 324
377 321
375 314
375 306
30 June 30 Sept 2020 2020
31 Dec 2020
31 Mar 2021
Singtel TV
StarHub TV+
371 296
368 287
30 June 30 Sept 2021 2021
Source: Financial reports, Singtel & StarHub
Singapore enters 2022 on a predictable course, with 5G the darling child
realising growth without frontiers, and delivering an endless continuum of
at the centre of the action, an abundance of digital sparkle, still in the
experiences that enrich customers’ lives,” StarHub said in the statement
midst of full-blown third-party streaming enchantment accompanied by
that accompanied the Dare+ reveal.
the steady drip-drip of pay-TV households going down the drain.
Among other deliverables, Dare+ relegates yesterday’s jargon –
One of the country’s two leading platforms, StarHub, is as happy as you
remember quad-play? – to its bin of history, replacing it with an “infinity
know it, with a shiny new phase in its transformation from lumpy telco into
play” reflecting the endless potential of the digital universe, including
nimble operator, more meta than physical, with, of course, higher profits.
streaming entertainment and cloud gaming; and a commitment towards
In an eloquent presentation towards the end of November, StarHub CEO,
“all-encompassing super-app platforms...with the aim to offer as many
Nikhil Eapen, unveiled the next phase of the company’s transformation in
services as possible on a self-serve, zero-touch basis”. StarHub’s new
a slick amalgam of words and jargon that points in one direction: more
infinity also includes an enhanced suite of high-value enterprise solutions,
services at less cost. With no layoffs, just a concerted effort to redeploy staff.
including cybersecurity.
Along the way, the 23-year-old communications company plans to shrink
Eapen described Dare+ as “the next giant step for StarHub in our
its physical presence and its call centre teams and roll out what it clearly
transformation journey” and said the company was “laser-focused on
hopes will be simple-to-use services that customers can figure out themselves
growth in all areas”. He charted a course for StarHub that goes “beyond
(aka “self-serve zero touch”) without dialling the dreaded hotline.
telco to becoming a full-on digital life and digital services provider of the
StarHub is targeting S$280 million/US$205.7 million in cost savings plus
most enriching connectivity, entertainment and other lifestyle experiences,
S$220 million/US$161.6 million in gross profit growth cumulatively between
as well as innovative business solutions for our customers, with frictionless
FY2022 and FY2026. The first phase of the transformation journey, dubbed
digital engagement at our core”.
Dare 1.0, delivered cost savings of S$270 million/US$198 million.
A lot is riding on StarHub’s latest Dare. The scorecard so far: the share
The grand aim of the Dare+ strategy, which follows Dare 1.0’s close
price climbed from S$1.28 on 22 Nov (the day of the Dare+ reveal) to
in October 2021, is to “take StarHub from a telco to a company that
S$1.37 on Monday, 29 Nov. This was pretty much the highest it has been
connects digital lives for customers”. “Dare+ anchors on doubling down
since Eapen arrived in January 2021 and level with this time last year. But
on digital across everything StarHub does, accelerating value creation,
the 54% drop over five years says there’s a long way to go yet.
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contentasia december 2021