Despite challenging economic conditions affecting consumer spending, Globe reported a robust 8% increase in mobile revenues for the first quarter of 2024, amounting to Php 29.1 billion, compared to Php 27.1 billion in the same period last year. This growth is primarily attributed to mobile data usage.
The company’s mobile business accounted for 71% of total consolidated gross service revenues, up from 68% a year ago. This highlights Globe’s successful monetization strategies and market repair efforts, particularly in the absence of price wars with competitors. Customers continue to prefer Globe for its superior network quality and service. As of the end of March 2024, Globe’s subscriber base was 58.8 million.
Mobile data played a significant role in driving mobile revenues, with its contribution increasing by 10% to Php 23.8 billion from Php 21.7 billion. Mobile data made up 82% of total mobile revenues, an increase from 80% the previous year.
Darius Delgado, Head of Globe’s Consumer Mobile Business, pointed to the stability of Globe’s active loader base as an indicator of business performance.
“Our efforts are validated by our customers as our Net Promoter Scores continue to surpass Asia-Pacific benchmarks. This allows us to maintain a stable paying base, with Average Revenue Per User (ARPU) growing at a healthy rate, even amidst economic constraints,” Delgado stated.
He added, “This equation tells me that we are providing an experience that merits our customers’ expenditure and loyalty.”
The growth in mobile data is driven by Filipinos’ increasing dependence on mobile devices for various activities, including online shopping, media streaming, and social media engagement. The widespread use of smartphones and the popularity of data-intensive applications also contribute significantly to this upward trend.
The scenario revealed a shift in consumer preferences from traditional voice and SMS services. Voice and SMS revenues were reported at Php 3.4 billion and Php 1.9 billion, respectively, marking a year-on-year decrease of 2% and 3%.
Globe remains dedicated to further improving its network and services to ensure superior customer experiences and to maintain its growth trajectory in the progressively digital landscape.
FAQs
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What is the growth rate of Globe’s mobile revenues in Q1 2024? Globe’s mobile revenues grew by 8% in the first quarter of 2024.
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What is the main driver of Globe’s mobile revenues? Mobile data usage is the primary driver of Globe’s mobile revenues.
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What percentage of total consolidated gross service revenues does Globe’s mobile business represent? Globe’s mobile business represents 71% of total consolidated gross service revenues.
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What is the size of Globe’s subscriber base as of end-March 2024? Globe’s subscriber base stood at 58.8 million as of end-March 2024.
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What is the contribution of mobile data to total mobile revenues? Mobile data constituted 82% of total mobile revenues.