Singapore’s multi-play service revenue to grow at 7% CAGR to 2025
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Joseph O'Halloran
| 18 March 2021
A steady rise in household penetration of multi-play service bundles and an increase in average monthly household spending on triple-play and quad-play services are set to drive the multi-play service revenue in Singapore to US$1.53 billion in 2025 says a study from GlobalData.
GlobalData Singapore 18 March 2021
This would represent a compound annual growth rate (CAGR) of 7% from the US$1.09bn recorded in 2020 said the data and analytics company in the Singapore Multiplay Services Forecast and would also mean that multi-play service penetration will increase from an estimated 74.0% in 2020 to 85.8% by the end of 2025.

One of the key growth drivers will likely be fibre optic network expansion by fixed operators to deliver bundled plans built around high speed Internet services. The survey also found that triple-play services will account for the largest share of multi-play subscriptions in Singapore through the forecast period while quad-play services will see its subscription share grow from 9.8% in 2020 to 15.3% in 2025. However, double-play subscriptions are set to see a drop in the share of total subscriptions from 23.3% in 2020 to 17.9% by 2025.

Looking at the individual firms who may be set to dominate the market, the Singapore Multiplay Services Forecast cited Singtel and StarHub as well placed to take advantage of their fibre-to-the-home (FTTH) networks to accelerate multi-play adoption, with the goal of lowering churn and increasing revenue-generating units (RGUs).

Singtel is said to be poised to continue to lead the triple-play and quad-play segments in terms of subscriptions through 2025, driven by promotional discount offers on bundled telecom plans to attract new subscribers.