Globe’s mobile business achieved record revenues of ₱112.4 billion in 2023, marking a 5% improvement over the previous year on the back of data-centric value-for-money offers that serve evolving customer needs.
“2023 overall was a great year. In telco primarily, our growth was bannered by the mobile side of our business, which did tremendous growth at 5%. It probably may not be a huge number but if you look at the global trends in telco for mature markets like the Philippines, 5% is indeed a very good number in terms of the growth rate,” said Ernest Cu, Globe Group’s President and CEO.
The mobile business witnessed a robust 9% year-on-year increase in Mobile Data revenues of ₱90.9 billion, which more than compensated for declines observed in mobile voice and SMS revenues, which fell by 9% and 10%, respectively. The performance is a clear indication of the shifting consumer preference towards data-driven communication and entertainment.
Mobile data traffic soared to 5,960 petabytes by the end of December 2023, a 28% rise from 2022. Such a surge in data consumption is primarily attributed to high-bandwidth online videos and social media content accessed through smartphones.
Additionally, mobile data Average Revenue Per User (ARPU) saw a remarkable 34% year-on-year growth, and are now more reflective of the true ARPU levels of Globe. Moreover, mobile data Average Traffic Per User (ATPU) rocketed by 35% to reach 14 gigabytes per month. Mobile data now constitutes 81% of the company's mobile revenues, up from 78% the previous year.
Following the SIM registration mandate early last year, Globe's mobile customer base stood strong at 57 million by December 31, 2023. Despite deactivating approximately 30 million SIMs, primarily inactive users, the company observed an increase in gross mobile ARPUs for Prepaid and TM, reflecting the true value levels of Globe's services.
Year-on-year, Prepaid ARPU rose by 24% to ₱120, while TM ARPU increased by 34% to ₱84. Adjusted for the post-SIM Registration period, these figures further demonstrate the high-quality subscriber base post the SIM card registration exercise.
"Despite the economic challenges, our focus on enhancing network quality and service has allowed us to not only meet but exceed our customers' expectations. Our growth in mobile data revenues and ARPU highlights the increasing relevance of mobile data in our customers' daily lives and reinforces our position as a leader in the telecom industry,” said Darius Delgado, Head of Globe’s Consumer Mobile Business.
Globe's record mobile growth in 2023 indicates the company's resilience and ability to adapt to market demands, ensuring a sustained positive trajectory in the face of a competitive telecom landscape.
Public Company Information:
PSE: GLO
