Astro Malaysia Holdings Bhd has announced a strong commitment to boost local content creation with a substantial investment of over RM300 million for the financial year ending 31st January 2024 (FY2024). The company intends to surge forward with this plan despite the economic challenges that call for careful cost management.
Astro’s group CEO, Euan Smith, highlighted the company’s focus on offering customers an improved bundle of services that include their flagship local shows, live sports, the best of global streaming services, and broadband, all under one roof. To cater to the varied tastes of its viewers, Astro has designed three unique video services – Astro, NJOI, and sooka.
During FY2023, Astro successfully produced and commissioned 10,300 hours of local content by teaming up with the country’s leading creative talents and award-winning producers. Some notable contributions include “Projek: High Council”, “One Cent Thief”, and “Kudeta”.
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Smith emphasized Astro’s firm commitment as a home-grown brand to promote local vernacular content. He expressed confidence in Astro’s unique storytelling ability, talent, and production capabilities that consistently churn out premium content that genuinely appeals to Malaysians.
Despite ongoing economic challenges impacting households and businesses alike, Astro remains unwavering in delivering exceptional value and experiences to its customers. Notably, about 25% of customers are currently benefiting from the company’s new streaming TV packs and broadband offerings. This has resulted in a RM1.30 year-on-year increase in the Monthly Average Revenue Per User (ARPU) to RM98.70 in the first quarter of FY2024.
Furthermore, the Astro Fibre broadband service, introduced in March 2022, has witnessed a 28% growth in the customer base in 2023 compared to 2022.
Astro has also solidified a strategic partnership with the Malaysian Football League (MFL) in February 2023. This alliance positions Astro as the official broadcaster of MFL’s Malaysia League competitions till 2025, which aligns with Astro’s recognition of sports as a crucial aspect of nation-building.
Smith concluded by mentioning the encouraging response received since the beginning of the football season in February. The Malaysia League packs are performing above expectations, with a take-up of 58,000 viewers on Astro and NJOI.
This news is based on a report by Malay Mail.