|Bid||4.170 x 0|
|Ask||4.180 x 0|
|Day's Range||4.070 - 4.230|
|52 Week Range||3.850 - 4.920|
|Beta (5Y Monthly)||0.54|
|PE Ratio (TTM)||47.34|
|Earnings Date||Feb 13, 2020|
|Forward Dividend & Yield||0.32 (7.61%)|
|Ex-Dividend Date||May 12, 2020|
|1y Target Est||5.03|
(Bloomberg) -- Netflix Inc. and its rivals are facing a price war in India as a jump in the cost of watching video on mobile phones threatens to slow demand in what is shaping up as a key growth market globally for streaming.The country’s three wireless carriers hiked data tariffs by as much as 41% earlier this month, leaving some customers in India, where most streaming is done on phones, with less to spend on entertainment services like Netflix, Apple Inc.’s TV+ service -- which debuted there last month -- and those of local competitors.Cheap broadband, a well-established film culture and a vast English-speaking population have helped make India a lucrative streaming battleground, with Netflix targeting 100 million subscribers in the country, almost 25 times the customer base as of this year. But an increase in data costs, coupled with a wider slowdown in the economy, could make customers more sensitive to how much they pay for content, just as players like Apple and Amazon.com Inc.’s Prime try to dig a foothold in the market.“This is a challenge that will affect growth, as the mobile data boom has been a big factor driving adoption in India,” said Utkarsh Sinha, managing director of Bexley Advisors, a boutique investment bank focused early-stage deals in tech and media. “The Indian user has largely used data like running water without thought.”Netflix is already trying to get ahead of the move, slashing prices by as much as half for subscribers that commit to at least three months. Most of the country’s streaming services, including Apple TV+, Amazon Prime and Walt Disney Co.’s Hotstar have also offered discount deals this year and subscriptions at prices well below those in other markets. Apple’s new TV+ service, for example, sells for about $1.40 a month in India, compared with about $5 in the U.S. and Japan.Netflix said in a statement that its users may value the flexibility that comes from being able to pay for a few months at once. “As always, this is a test and we will only introduce it more broadly if people find it useful,” a spokeswoman in India said. Representatives for Amazon, Apple and Hotstar in India declined to comment.“As all platforms become equally competitive on content, pricing will be a key lever to pull to draw in customers and encourage churn,” said Sinha. “Netflix has introduced an India-only price, and Amazon is already subsidizing its Prime offering through a package deal.”Apple TV Squeezing Into India Market With $1.40 a Month ServiceRead more on how Netflix’s Indian ambitions face a wall of cheaper rivalsThe price pressures add to what is already a cutthroat streaming market, with some 30 operators hawking online video services in the country of 1.3 billion people. Viu, a smaller streaming player run by Hong Kong-based PCCW Ltd.’s media arm, recently decided to exit the market because it lacks the cash to challenge bigger rivals, India’s Economic Times reported Dec. 16, citing an executive it didn’t name at Viu. Mubi, a U.K.-based curated streaming service, became the latest to take a crack at the market.While the effect of higher mobile phone tariffs will ripple across the industry, services that draw higher-income Indians who can easily afford to pay a little more for wireless access are somewhat insulated, said Mihir Shah, India vice president at Media Partners Asia in Mumbai. Free services -- like Bytedance Inc.’s TikTok and social media video sites will take a more direct hit as it becomes more expensive to watch on wireless devices, he said.In aggregate, streaming services will continue to grow, even as costs rise, he said.What the Streaming Wars Mean for the Future of TV: QuickTakeWhile the big streaming brands are competing on price, they’re also spending money on content to offer India’s viewers more.Netflix Chief Executive Officer Reed Hastings has said the company wants to become “more Indian” in its content offering and plans to spend as much as $420 million to create local TV and films. Disney’s Hotstar has drawn hundreds of millions of active users to exclusive sports programming, especially cricket, the nation’s most popular game. For its part, Apple is adding to its TV+ offering a series based on the bestselling novel Shantaram about a convicted Australian bank robber and heroin addict who escapes from prison and lands in the slums of Mumbai.(Updates with Netflix statement in sixth paragraph)\--With assistance from Ragini Saxena.To contact the reporter on this story: P R Sanjai in Mumbai at firstname.lastname@example.orgTo contact the editors responsible for this story: Dave McCombs at email@example.com, Thomas PfeifferFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Hong Kong has issued online-only banking licences to three groups, including joint ventures (JVs) of Standard Chartered and BOC Hong Kong, in what could be the biggest shake-up in years in the city's retail banking sector dominated by old-guard lenders.
March 27 (Reuters) - Pccw Ltd: * ANNOUNCES FORMATION OF JOINT VENTURE WITH STANDARD CHARTERED AND CTRIP TO ESTABLISH A VIRTUAL BANK IN HONG KONG * UNITS OF HKT AND PCCW ENTERED INTO SUBSCRIPTION AGREEMENT ...
March 8 (Reuters) - PCCW Ltd: * ANNOUNCES ACQUISITION OF BONDS * TO BUY SALE BONDS AT A CONSIDERATION OF US$67.2 MILLION FROM ULTIMATE TALENT LIMITED Source text for Eikon: Further company coverage:
Sept 18 (Reuters) - PCCW Ltd: * LI FUSHEN APPOINTED AS DEPUTY CHAIRMAN * LU YIMIN HAS RESIGNED AS DEPUTY CHAIRMAN OF BOARD Source text: http://bit.ly/2QFz0Wa Further company coverage:
Important news for shareholders and potential investors in PCCW Limited (HKG:8): The dividend payment of HK$0.089 per share will be distributed into shareholder on 10 October 2018, and the stockRead More...
Aug 7 (Reuters) - PCCW Ltd: * INTERIM DIVIDEND OF 8.91 HK CENTS PER ORDINARY SHARE * HY CONSOLIDATED REVENUE ROSE BY 10 PERCENT TO HK$18.97 BILLION * HY CORE PROFIT ATTRIBUTABLE FROM CONTINUING OPERATIONS ...
In December 2017, PCCW Limited (HKG:8) released its latest earnings announcement, which showed that the company gained from a slight tailwind, leading to a single-digit earnings growth of 9.51%. InvestorsRead More...
Janice Lee of PCCW Media discusses how her company plans to not only retain, but also appeal to other audiences within the Asian Pacific region.
This week seems to be a good one for media streaming companies in Asia. Hot on the heels of Malaysia-based Iflix raising $133 million for its Netflix-like service for emerging markets, Hong Kong's PCCW has pulled in $110 million for its range of video and music streaming services. Hony Capital, which recently backed WeWork's China business, Foxconn Ventures and Singapore sovereign fund Temasek have taken an 18 percent share in the PCCW International OTT business.