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StarHub unveils 5-year DARE+ transformation strategy to go beyond telco brand

StarHub unveils 5-year DARE+ transformation strategy to go beyond telco brand

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StarHub has unveiled DARE+ that aims to take the brand from a telco to a company that connects digital lives for customers. DARE+ anchors on doubling down on digital across StarHub’s properties, accelerating value creation, realising growth without frontiers, and delivering an endless continuum of experiences that enrich customers’ lives.

DARE+ cuts across over-the-top (OTT) streaming entertainment, cloud gaming and digital solutions. With DARE+, StarHub will drive consumption through all-encompassing super-app platforms for customers, with the aim to offer as many services as possible on a self[1]serve, zero-touch basis, while achieving rapid speed-to-market and minimising cost and capital expenditure.

According to the company, the launch DARE+ builds on the successful conclusion of DARE 1.0, which ended in October 2021 and delivered cost savings of over SG$270 million, exceeding the original target of SG$210 million. DARE 1.0 also resulted in a 15% reduction in operating expenditure levels.

With DARE+, StarHub intends to achieve sustainable revenue growth and potential growth in dividends, with “superior product margins” from the introduction of new 5G products and solutions, further operating cost savings through digitalisation and migration from legacy systems and evolution of operating models.  StarHub is targetting SG$280 million in cost savings plus SG$220 million in gross profit growth cumulatively between FY2022 and FY2026.

CEO Nikhil Eapen (pictured) said, “DARE+ is the next giant step for StarHub in our transformation journey. DARE+ is laser-focused on growth in all areas.”

He added that StarHub is changing, going beyond telco to becoming a full-on digital life and digital services provider of the most enriching connectivity, entertainment and other lifestyle experiences, as well as innovative business solutions for customers, with frictionless digital engagement at its core.

“We invite our customers, partners, and our community to join us on this journey, as we radically simplify everything we offer, double down on digital for maximum agility, cement our network superiority, and drive sustainable growth across all segments,” he said.  

For consumers, shows and movies can now be enjoyed not only on TVs, but also on phones, tablets and web browsers through its hybrid linear-OTT platform StarHub TV+. StarHub has also renamed its TV line of business to “Entertainment”, to reflect the company’s expanding continuum of complementary services, such as 5G cloud gaming, with the intent to continue adding new products and new verticals.

 For enterprises, business acceleration is well underway, through StarHub’s significant presence in cyber security and regional ICT with Ensign InfoSecurity and Strateq growing well, plus the proposed acquisitions of MyRepublic Broadband and HKBN JOS (Singapore) and HKBN JOS (Malaysia). StarHub’s aim is to be the trusted one-stop brand for enterprises’ cyber security, cloud and ICT and network connectivity needs, leveraging its unique capability sets and expanding ecosystem of strong partners to cross-sell solutions and pull through 5G and fixed connectivity.

StarHub said it will pursue further acquisitions that enlarge scale and footprint as well as expand product offerings and capabilities for customers. StarHub’s core network connectivity is the backbone of DARE+ alongside its digital transformation.

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