Thailand’s True dropped another 108,000 pay-TV subscribers in the first quarter of 2024, reporting its fifth straight quarter of pay-TV subs losses.
  
Pay-TV subs numbers were down 7.4% year on year to 1.34 million from 1.45 million at the end of March last year. 

Pay-TV arpu increased 1.3% year on year to THB283/US$7.70. 

Reporting its Q1 earnings just before the weekend, the company showed dips in online and mobile subscribers as well, but said the across the board subs losses were the result of one-time data base clean-ups to get rid of non-revenue-generating customers. 

True had just over 3.7 million online subscribers at the end of March, down from 3.84 million subs at the end of March in 2023. 

Online subscribers dropped 133,000 (-3.5%) year on year at the end of Q1 2024. 

Online arpu was up 9.2% year on year, reaching THB506 at the end of the first quarter. 

The company had a total of 51.1 million mobile subs at the end of the first quarter 2024 – a growth of 0.6 million or 1.2% year on year. Post-paid subscribers declined by 0.5 million (-3%) year on year. 

Pay-TV service revenue for 1Q2024 was THB1,757 million/US$48 million – an increase of 5.5%. True attributed this to higher music and entertainment revenue. 

The company’s consolidated first quarter net loss after tax was THB769 million from THB492 million – a drop of 56.2% – in the same quarter in 2023.