Starhub

[CityFarmer]

Local content and sport events are two supporting pillars for pay-TV, in the competition with OTT players, but it seems the cost is becoming too high a hurdle to cross...

Fans livid no 'live' IPL but telcos cite high costs
12 Apr 2016 09:00
By Nicholas Tan

Cricket fans in Singapore were expecting to see the likes of Virat Kohli and Steve Smith on television, but instead were left disappointed when it was revealed that the new Indian Premier League (IPL) season is not being televised here.

These fans voiced their unhappiness on cable TV operators StarHub and Singtel's social media pages, after Saturday night's season opener between the Rising Pune Supergiants and Mumbai Indians was not shown live.

Netizens expressed their displeasure that there was no prior notice about the lack of coverage, especially after the previous edition of the IPL was shown on both networks.
...
Source: Straits Times

[CityFarmer]

The trend will sustain for international channels, IMO.

StarHub axes 8 channels
13 Jun 2016 14:08
By Yip Wai Yee

Eight TV channels under the Fox Networks Group label will be removed from StarHub's pay-TV service later this month, while the fate of Fox's 25 other channels on the service hangs in the air.

Starting next Thursday at noon, the following channels will cease broadcast on StarHub: Music channels Nat Geo Music, Channel V, Channel V Mainland China, and Channel V Taiwan; non-fiction channel National Geographic Channel HD; and Mandarin entertainment channel Xing Kong.

Kids and baby channel BabyTV and Hindi entertainment channel Life Ok will stop airing on June 30.

It is not known whether Fox's other channels, which include popular English channels such as Star World, Fox and Fox Crime, which screen popular dramas such as Scandal and The Walking Dead, will continue airing on StarHub.

The Straits Times understands that Fox's contract with StarHub is ending soon.
...
Source: Straits Times

[opmi]

http://hkm.appledaily.com/detail.php?gui...e=20160701

電盈料ViuTV五年內收支平衡


■ViuTV稱已在籌備製作《跟着矛盾去旅行》續集。　互聯網

【本報訊】電訊盈科（008）旗下的免費電視台ViuTV「開台」兩個月，或能改變電視界由電視廣播（511，又稱TVB）「一台獨大」的局面。電盈董事總經理施立偉（B.G. Srinivas）表示，ViuTV是一個可持續發展的業務，預計可在4至5年內可達致收支平衡。電盈媒體集團董事總經理李凱怡表示，已在籌備製作《跟着矛盾去旅行》續集。

事實上，電盈主席李澤楷曾在股東會表示，如獲邀請不排除參加《跟着矛盾去旅行》。不過李凱怡未有透露有否邀請李澤楷成為節目嘉賓，僅笑指在網上見到很多網民討論，希望見到李澤楷跟誰一起去旅行。

至於電盈旗下的OTT網絡電視，李凱怡透露，包括「Vuclip」及「Viu」的收費用戶達900萬，其中後者在香港的下載量有160萬，而每月有收看的用戶數目亦有130萬人，平均每名用戶每日都會透過Viu收看1.5小時的節目，至於Viu在新加坡亦錄得約60萬名用戶。

李凱怡表示，目前Viu僅在csl.客戶推出收費服務，計劃下月起開始擴大至所有用戶，csl.亦會在短期內推出「Viu+Moov」的捆綁服務，預料每月收費不超過50元。

另一方面，新一季英超將於8月初「開波」，李凱怡強調nowTV仍會直播所有賽事，觀眾亦可在透過App在手機或平板電腦等流動裝置收看，不會出現延遲或不流暢的情況。不過，她未有透露nowTV是否自行製作英超節目及旁述。

[new-comer1]

Qatar's Ooredoo said to consider sale of 14% stake in StarHub

http://www.straitstimes.com/business/com...in-starhub

[cyclone]

On 22 November 2016 Tan Tong Hai, CEO of Starhub, bought 100,000 shares @S$2.795 per share.

[halopanda]

Here are my humble views and analysis on Starhub:

https://katongoracle.blogspot.sg/2017/01/starhub.html

It's a pretty good bargain at the current price and market has over-reacted to the entrance of the 4th telco

[thor666]

Fy results out. Managment guidance for Dividend for fy2017 is 4c/qtr, down 20% from 5c/qtr.

I wonder if starhub and m1 will explore merger in the long run.

http://infopub.sgx.com/Apps?A=COW_CorpAn...600a98b7da

Sent from my LG-H818 using Tapatalk

[specuvestor]

Starhub has negative consolidated reserve due to goodwill in SCV. That's why on a holding company basis it looks ok.

Since our discussion below, IMHO it is clear the moat is slowly but surely eroding.

On cashflow basis we also have to be very careful as the dividend payment depends on no surprises on the FCF as it is very tight so no margin of error. Stecano should also understand that FCF is different from Earnings.

Hi, I am new to starhub, why is the NTA of the company so low?

IIRC it is related to the acquisition of SCV

I often quote starthub as an example of how to value a company using cashflow and ROIC rather than PTBV or ROE. These latter 2 numbers look ridiculous on starhub

The main asset of "SCV" had been the "pipe" ie a captive market once signed on. Mio presence has already diminished that moat. Smart TV and internet streaming via fiber for eg Youtube's pay TV will further erode that competitive advantage. The question as always is how long it can drag. Impact on Starhub's pay TV had been minimal until last year.

The uniqueness of Starhub's equity after SCV acquisition had been discussed in detail in this thread. Probably a search will able to get the detail of the discussion.

Starhub is a very interesting extreme case study on debt structure

Indeed they can repay their debt in 1.5 years if they choose not to pay dividends. In that case their equity will jump and debt goes to zero. ROE plunges while PE slides

Obviously the company is a cashcow that will not collapse. But will the share price collapse?

Asset and business didnt change but the structure change and shareholders are affected nonetheless

Or take the middle path and use ½ the FCF to retire debt instead of dividends to save interest cost. After 3 years go debt free. Will that be better for shareholders?

It's going to be a very difficult decision for starhub to make if they want to take the bold step of  cutting or drastically reducing dividends. Their share price may plunge and the CEO would be under tremendous pressure and his (plus others) options may be underwater. As it is, things are not looking good. If I were a long term investor of starhub, I would prefer them to take the middle path. Their dividend strategy of driving the share price higher has turned them into a 'dividend junkie'.

What we had discussed 2.5 years ago is finally coming to pass. How will the market react and what will be the floor?

We can estimate their 2017 cash flow based on their guidance and see why they had to cut dividend by 20% to $280m

NB added bold

[YMPL]

A new development on streaming TV. The ARPU of Starhub Pay TV is about S$50, which is close to YouTube TV's. The service is going to start in the US.

Google Takes on Cable With ‘YouTube TV’—40 Channels for $35

"Just $35 a month gets you six accounts and access to live TV from more than 40 providers including the big broadcast networks, ESPN, regional sports networks and dozens of popular cable networks. Subscriptions include cloud DVR with unlimited storage, AI-powered search and personalization, and access to YouTube Red programming. "

https://www.wired.com/2017/02/youtube-tv-skinny-bundle/

[frus]

A few highlights from a recent Credit Suisse SG Telecoms note:

http://riskon.net/singapore-telecoms-tpg...pt-sector/

They expect TPG to enter the broadband market in order to offer double/triple-play with mobile and to increase competitive pressures (and cheaper offerings) in fixed broadband too. SG Telcos are not out of the woods.