Multiplay service revenue to soar to $1.3b by 2028

It will grow at a compound annual rate of 3.9% over five years.

Multiplay service revenue is forecasted to rise at a compound annual growth rate of 3.9%, from $1.1b in 2023 to $1.3b in 2028.

Data and analytics company GlobalData said growing average monthly multiplay household spending and better-fixed network infrastructure will fuel the growth.

GlobalData anticipates the average monthly household spend on multiplay services to climb from $65.57 in 2023 to $74.93 in 2028 due to the increasing adoption of higher value triple-play and quad-play options.

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Triple-play bundles represented 62% of multiplay households in 2023, with double-play at 27% and quad-play at 11%.

"Tripleplay bundles will continue to be the most popular multiplay service category in Singapore over the forecast period, with all major operators such as SingTel and StarHub promoting unlimited telephony service along with their fibre broadband plans," said Sarwat Zeeshan, Telecom Analyst at GlobalData.

Owing to the growth in fixed mobile convergence household penetration from 8.7% in 2023 to 10% in 2028, GlobalData said quad-play adoption will gain significantly over the forecast period.

“SingTel was the market leader in terms of number of multiplay households in 2023, followed by StarHub. All the major service providers in the country are leveraging their widespread, high-speed fibre-to-the-home (FTTH) networks to accelerate multiplay services adoption and increase revenue-generating units (RGUs),"  Zeeshan said.