Business

PLDT broadband business posts ‘record-breaking’ growth

Philippine integrated telco PLDT reported “unprecedented” growth for its fiber business, nearly doubling its revenue growth at 82% or P14.9 billion to P33 billion year-on-year, with net adds of 1.13 million new fiber subscribers in 2021 alone.

“2021 proved to be a record-breaking year for PLDT as we delivered all-time highs across the board despite the challenges brought about by the pandemic, calamities, and hyper-competition,” said Alfredo Panlilio, president and CEO, PLDT and Smart.

Exceeding the original target for 2021 of a million new fiber subscribers, PLDT’s total fixed broadband customers are now nearly three million, a record high for the group, as it continues to average over 107,000 monthly installations at the end of the year. In 2022, the Home team aims to target deeper penetration in Luzon and continue its rollout in new areas for growth in the Visayas and Mindanao.

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PLDT officials are optimistic about its Home business as it will likely further grow its revenues at an accelerated pace as it adds more fiber customers, and as the market remains underpenetrated at approximately 20%, compared with up to 50% penetration in the Asian region.

“We continuously expand our network and upgrade our broadband speeds so that Filipinos can have better digital experiences to earn, work, and study from their homes, because fast internet has become an essential that families depend on to progress and live better,” says Jeremiah de la Cruz, senior adviser Home Business.