Astro to invest over RM300mil in local content for FY24

Astro group chief executive officer Euan Smith

KUALA LUMPUR: Astro Malaysia Holdings Bhd is committed to investing over RM300 million in local content for its financial year ended Jan 31, 2024 (FY2024), despite the macroeconomic headwinds that necessitate prudent cost management.

Astro group chief executive officer Euan Smith said Astro had invested RM308 million in local content for FY2023, an 11 per cent increase from FY2022.

"We focus on providing customers with better value bundles that incorporate our flagship local shows, live sports, top global streaming services and broadband, all conveniently available in one place.

"In line with this, we offer three distinct video services, Astro, NJOI, and sooka, designed to meet the diverse preferences of viewers,” he told Bernama.

In FY2023, Astro produced and commissioned 10,300 hours of local content in collaboration with the nation’s top creative talents and award-winning producers, such as ‘Projek: High Council’, ‘One Cent Thief’ and ‘Kudeta’.

Smith said that as a home-grown content and entertainment brand, Astro is committed to championing local vernacular content, underpinned by the knowledge that its own storytelling, talent and production capability produces premium content that truly captures the interest of Malaysians.

He said that amidst macroeconomic headwinds that continue to impact households and businesses, Astro remained steadfast in delivering exceptional value and experiences to its customers.

"About 25 per cent of our customers are now enjoying our new streaming TV packs and broadband offerings, resulting in an increase in Monthly Average Revenue Per User (ARPU) by RM1.30 year-on-year to RM98.70 in the first quarter FY2024.

"Meanwhile, Astro Fibre, which was launched in March 2022, continues to see good take up as the broadband customer base grew by 28 per cent in 2023 compared to 2022,” he said.

In addition, Smith said Astro had entered a strategic partnership with Malaysian Football League (MFL) in February 2023 to broadcast the Malaysia League from 2023 to 2025.

He said this would see Astro becoming the official broadcaster of MFL’s Malaysia League competitions comprising the Charity Shield (Sultan Haji Ahmad Shah Cup), Super League, FA Cup and Malaysia Cup for the three seasons.

"Astro recognises the importance of sports in nation building, and both Astro and MFL are committed to raising the bar for coverage of local football leagues from live games, behind-the-scenes training to updates on players and coaches and the latest football news benefitting sports fans across Malaysia,” he said.

"Since the season’s kick-off in February, we have already recorded a total TV audience of 5.9 million while response for Liga Malaysia Packs is tracking above our expectations with a take up of 58,000 viewers on Astro and NJOI,” he added. - Bernama

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Astro , Investment , Euan Smith , Football , ARPU


Next In Business News

High expectations
The global port race: Will Malaysia keep up?
Divergent views on economic prospects
Uplifting local agriculture
Addressing the ripple effect of higher wages
Identifying opportunities for 2024
India economy to exceed growth estimates
OCBC sues money laundering suspect for US$15mil
Asia factory activity weakens, uncertainty on China clouds outlook
Results on track

Others Also Read