Astro affirms leadership as Malaysia’s home of sports, yielding solid Q2FY25 performance

KUALA LUMPUR: The second quarter of FY25 has solidified Astro Malaysia Holdings Berhad’s reputation as Malaysia’s Home of Sports, reinforcing our position as the go-to destination for premium sporting content.

As the country’s leading broadcaster, Astro delivered an unparalleled experience, rallying millions of Malaysians around some of the world’s biggest sporting events.

Malaysia’s Home of Sports

From the thrilling moments of UEFA Euro 2024 to the electrifying glory of Copa America 2024 and to the grandeur of the Paris Olympics, Astro brought more than just coverage—it provided a platform for the nation’s passion for sports to thrive and unite.

These major sporting events captivated a cumulative total of 15.4 million viewers on Astro, highlighting the fervent enthusiasm of Malaysians for our content slate.

Additionally, Astro was also the only local broadcaster with an on-ground team in Paris to bring the latest live sporting action of our Malaysian athletes and most comprehensive coverage to viewers over 18 HD channels on Astro, 18 and 12 channels on sooka and NJOI respectively.

Creating Content that Unites

But it’s not just through sports that Astro brings Malaysians together.

In Q2FY25, our diverse content offerings continued to resonate with audiences across the country, crossing cultural and ethnic boundaries.

The Great Resonance, our fastest-growing Chinese Astro Original series, garnered 46K OD (On Demand) UV (Unique Viewers) and over 3 million minutes streamed. Impressively, 48% of the viewers were non-Chinese. Its story of a matriarch defending her family’s legacy amidst power struggles that resonates with all Malaysians.

Similarly, Kiblat ke Syurga and X-Change also highlighted Astro’s success in reaching diverse audiences, with 22% of viewers for Kiblat ke Syurga being non-Malay and 29% for X-Change. Both dramas ranked in the Top 20 most-watched On Demand Content.

Astro also solidified its status as the hub for local dramas that connect deeply with viewers.

Dedaun Hijau di Angin Lalu peaked at 1.4 million viewers, reaching 6 million on TV and attracting 174K OD viewers. At its heart, it’s a tale of healing, where an arranged marriage ASTRO MALAYSIA HOLDINGS BERHAD Incorporated in Malaysia – Company No. 201101004392 (932533-V) All Asia Broadcast Centre, Technology Park Malaysia, Lebuhraya Puchong-Sungai Besi, Bukit Jalil, 57000 Kuala Lumpur, Malaysia between two unlikely characters shows that even the deepest wounds can heal with time and trust.

Astro’s strength doesn’t end with TV dramas.

When it comes to local films, Astro is the leading player, capturing 74% of the market. Three of the top three local films in 2024 so far have come from Astro’s stable: Sheriff: Narko Integriti, The Experts and Takluk: Lahad Datu have grossed a combined box office total of over RM100 million.

Upcoming releases such as Project Kahar, –the highly anticipated prequel to our Project High Council series, and #DONDUKUN are poised to continue this trend.

Revenue Grew with Free Cash Flow of RM171 million

Fuelled by higher subscription revenue (driven by major sports events and continued demand for broadband services), Astro delivered a strong performance in Q2FY25, with revenue climbing 2% q-o-q to RM787 million.

This result was achieved despite a challenging advertising environment, where ADEX dipped by 19%% q-o-q to RM70 million due to external factors such as the ongoing Middle East conflict.

Excluding unrealised forex gains from transponder lease liabilities, normalised PATAMI stood at RM27 million; a 10% improvement on the previous quarter. Furthermore, cash generation remained robust, with free cash flow up by 52% to RM171 million q-o-q.

Astro Fibre & sooka Growth

Astro Fibre’s broadband user base grew 11% y-o-y, thanks to our enticing bundles. Customers get exceptional value by combining broadband with Pay-TV subscriptions, with 500 Mbps available for RM90 and 100 Mbps for RM60.

sooka also saw significant growth, with monthly active users up 60% to 1.3 million and VIP paying customers more than doubling. This success is driven by popular events like Euro 2024 and our competitive pricing.

We are enhancing sooka’s attractiveness through several initiatives, including the EURO + Astro First Pay Per View Pass, improved ad technology, and telecom partnerships. Additionally, the upcoming launch of sooka TV sticks in retail stores, along with new plans and payment options, will drive growth and strengthen the take-up further.

Expanding Reach

As part of our ongoing transformation, Astro is planning to launch three streamlined TV packs in the future for: entry-level viewers, sports fans, and all-access seekers. These offerings provide exceptional value, tailored to content preferences, while driving long-term ad growth and positioning Astro as the preferred choice.

Moreover, we have begun tapping into new audiences, expanding into suburban markets like Sekinchan and Pandamaran—communities that have flourished in recent years but have remained relatively unexplored by Astro. This quarter saw the highest growth in Chinese subscriptions since 2019, proving that our efforts in these previously untapped areas are bearing fruit.

Landmark Victory Against Content Piracy

Our commitment extends beyond content creation.

Astro is resolutely committed to combating content piracy and copyright infringement. The most recent victory against such thievery came with a substantial RM221K High Court settlement against an F&B outlet for the illicit broadcast of Astro’s Pay-TV content across multiple locations, an outcome reinforcing the company’s zero-tolerance towards piracy.

From 2023 to September 2024, we have successfully removed 390,000 illegal links from a variety of platforms—websites, social media, mobile apps such as Telegram, and e-commerce sites. Each takedown protects jobs and ensures the industry’s survival. Astro continues to work closely with other enforcement agencies as well as regional entities in the ongoing fight against digital piracy.

Local & Regional Recognition

As 2024 progresses, our news arm Astro AWANI continues to shine, proving once again why it remains one of Malaysia’s leading newsrooms and the most trusted news brand in Malaysia, for the seventh consecutive year. At this year’s Malaysian Press Institute-Petronas Journalism Awards 2023, AWANI took home two Silver Awards and a Bronze, underscoring its commitment to journalism excellence.

Astro’s impact doesn’t stop at national borders.

At the 2024 ContentAsia Awards in Taipei, Astro’s creative prowess was recognised with nine prestigious accolades at the 2024 ContentAsia Awards, held in Taipei. These awards include three Golds for INNOVATHON (Best Original Reality/Competition Programme), Family Feud Malaysia (Best TV Format Adaptation in Asia), and Ayuh OST, Polis Evo 3 (Best Original Song for Asian TV Series/Program or Movie).

Driving ESG Leadership

As part of our commitment to advancing Environmental, Social, and Governance (ESG) practices, Astro has launched the ‘Forward Faster Louder’ programme in collaboration with the UN Global Compact Network Malaysia & Brunei.

The initiative aims to boost accountability and guide companies toward their 2030 sustainability goals.

Through Astro’s Voice For Good platform, it will highlight credible ESG stories from Malaysia, showcasing inspiring achievements from people and businesses to underline Malaysia’s leadership in sustainability and drive positive change. In the run up to Malaysia Day, Astro celebrated unity through SYOK FEST 2024, a three-day festival held from September 6 – 8, featuring the launch of KITA fm’s 18-hour live broadcasts across Astro’s 13 radio stations in four languages, promoting cultural and racial harmony.

GCEO’s Statement

Euan Smith, Group CEO of Astro remarked: “Our transformation journey is driven by Team Astro’s commitment to being Malaysia’s No.1 Entertainment and Streaming Destination. As part of our strategic focus on long-term and sustainable growth, we are elevating local content by leveraging our competitive edge through high-quality productions and fresh storytelling in Astro Originals, signature series, and films.

Our commitment to creating more value for customers includes expanding the variety of content in our lower-tier offerings and reducing entry prices for Astro and sooka, with the goal of broadening our customer base. I am pleased to note that we are having success accelerating the growth of our adjacent businesses—sooka, Astro Fibre, Enterprise, and Addressable Advertising— reaching new and existing market segments with greater value and flexibility.

Our blockbuster films continue to lead the market with a 74% share of local box office collections in 2024. We are particularly excited about the upcoming premiere of Kahar: Project High Council. As Malaysia’s Home of Sports, the UEFA Euro 2024 and Paris 2024 Olympics were extremely well-received by fans across all platforms this quarter. The action continues with the Liga Malaysia and Premier League 2024/25 seasons, with all matches broadcast in HD.

At the same time, we remain vigilant about local economic conditions. Softening consumer sentiment and broader geopolitical factors are impacting the industry, but a strengthening Malaysian Ringgit would help mitigate USD-based cost pressures in the medium term.

Despite all the activity, the Group maintains a cautious outlook, focusing on prudent cost management and carefully monitoring evolving business conditions.

We are fully committed to our FY25 goals: (i) grow new customers by providing greater value; (ii) strengthen our adjacent business, which include Astro Fibre, sooka, and addressable advertising; and (iii) reduce legacy cost base and entry price of our services, to compete with global players.

Our focus on local content is paying off. We produce over 10,000 hours of new content annually, including top dramas like Dedaun Hijau Di Angin Lalu and Takdir Itu Milik Aku. Our premium Astro Originals—X-Change, The Great Resonance, and Gempak Original, Kiblat Ke Syurga— are also reaching new and diverse audiences. This ‘cross pollination’, unbound by language or ethnicity, maximises the impact and return on our content investments.”

---

The press statement is issued by Astro Malaysia Holdings Berhad

Read the latest news here