SkyCable targets larger broadband market
Aside from being one of the top television media outfits, the Lopez-controlled ABS-CBN Broadcasting Corp. is also targeting the broadband industry, as SkyCable aims to expand its broadband service in Metro Manila.
ABS-CBN chief financial officer Rolando Valdueza said they would need additional P600 million this year to expand its broadband presence in Metro Manila. The company dubbed it the Sky Broadband and is being marketed as the fastest Internet product of its kind in the country.
“We want to pursue the expansion of [Sky] Broadband this year. For now, we want to focus on Metro Manila, but we plan to operate in large cities in the province next year,” Said Valdueza. They also have“small-scale” operations in Cebu City, Davao City and Baguio City.
From its present 18,000 subscribers, Valdueza said they expect Sky Broadband subscribers to increase to 40,000 in the next 18 months.
He also added that the P600 million funds required for the broadband service expansion will be on the top of the P900 million funds which SkyCable allotted for its 2009 spending plan. The funds for the broadband expansion will be most likely sourced from bank loans.
When asked for the profit expectations in the broadband business, Valdueza replied, “The payback is about one year.”
August 13, 2009
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Tags: ABS-CBN, broadband, internet, investments, Sky Broadband, SkyCable В· Posted in: Philippine business news
One Response
I hope the broadband is good enough. In Manila with Globe, you pay for 3 mbps, but get a lot less.. “sorry sir, there is traffic”..
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