HKT first half profits grow, pay TV business sees 48% increase

HKT has announced its interim results with an increase in total revenue thanks to strong demand for broadband and data services alongside the growing adoption of our 5G services, while its pay TV business enjoyed a significant year-on-year growth of 48% too.

In a statement, HKT said the total revenue increased by 7% to HK$15,643 million benefiting from continued strong demand for broadband and data services alongside the growing adoption of 5G services by both consumers and enterprises, as well as higher handset sales; and total revenue excluding mobile product sales also rose by 3% to HK$14,112 million.

The company attributed the increase in revenue to a number of reasons. It said, "The pandemic has highlighted the importance of connectivity and digital transformation services to consumer and business communities under the new normal where social distancing measures are maintained. HKT remained focused on its customers by delivering superior networks and digital platforms and offering innovative value-added services and compelling entertainment content to consumers and businesses."

Last year, HKT acquired PCCW Media which operated Now TV business. In the same statement, HKT's Pay TV business, which included the full six-month contribution in H1 2021 from Now TV, generated revenue of HK$1,231 million, reflecting the impact of its exclusive broadcast of UEFA EURO 2020 on the subscription service and revenue generated from event-specific passes. During the period, Now TV enjoyed a significant year-on-year growth of 48% in advertising revenue.

By the end of June 2021, Now TV’s had 1.352 million clients, compared to 1.348 million by the end of December 2020. The company's Now E streaming service continued to tap into the digital native and mobile-savvy market with its unique content proposition and multiple subscription plans to choose from. Apart from football fans, HKT also expanded its audience base to non-football viewers via entertainment programmes leveraging the popularity of artistes from ViuTV of PCCW.

Lastly, Tap & Go, one of the service providers of the Hong Kong government's voucher scheme, had over three million accounts in service as of June 30, 2021, an increase of 14% from 2.6 million a year earlier.

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