ASTRO CONTINUES TO BUILD MOMENTUM

KUALA LUMPUR: Astro Malaysia Holdings Berhad (Astro) continues to build momentum in the third quarter of FY26 (Q3FY26), delivering a stronger set of results as its transformation strategy progresses. Revenue rose 2% quarter-on-quarter (QoQ) to RM696 million, supported by a tick up in advertising, higher licensing income and continued growth in broadband. The quarter delivered improvements across key financials metrics resulting in PATAMI of RM9 million, aided by effective cost management and ongoing operational efficiencies.

These results reaffirm the Group’s focus on strengthening its core, accelerating adjacencies and reshaping its cost structure to achieve sustained, long-term competitiveness. At the heart of this performance were improvements across the Group’s video businesses, with total customers across Pay-TV, NJOI and Sooka grew overall, while Astro Fibre and Enterprise maintained their strong trajectory. These results were achieved in large part by a compelling slate of Malaysian and Sports content that continues to resonate with audiences nationwide.

Astro One Continues to Support Pay-TV Stabilisation

Pay-TV trends continued to stabilise, delivering the highest quarterly gross additions of customers since Astro One launched in December 2024. This quarter, on top of the civil servant package, Astro launched its Friends and Family campaign, rewarding existing customers while regaining many who had lapsed. This initiative not only strengthened customer relationships but also encouraged multi-room adoption, driving incremental growth and reinforcing Astro’s commitment to providing value for Malaysian families.  

Sooka Accelerates Growth

Sooka saw its Monthly Active Users (MAU) grow 13% QoQ, while its VIP paying base surged 48% QoQ, fuelled by the return of the Premier League and Malaysian Football League (MFL) seasons, deeper telco partnership bundling, and improved app discoverability. Sooka’s evolution from a sports-first service into a multi-genre digital platform is gaining traction, establishing itself as a long-term growth driver.

This momentum is set to continue in Q4 with the launch of Sooka Shorts, a new genre of micro-dramas within Sooka: captivating stories designed for short-form consumption. This initiative taps into the global trend of bite-sized formats, giving audiences more options and positioning sooka as a homegrown innovator in digital content.  

Advertising Recovers as Digital and Radio Improve

Advertising revenue grew 13% QoQ to RM68 million, reflecting stronger advertiser confidence and improved uptake across Astro’s platforms. The improvement was primarily driven by radio, which rose nearly 30% QoQ aided by our successful KITA FM Merdeka and Malaysia Day campaigns and multiple exciting on-ground activations. The evolution of Astro Audio is proving successful in also cementing its dominance outside of FM airwaves, growing its listenership across station apps, podcasts, and on social media. In the recent search for a new ERA presenter, 800,000 Malaysians tuned into the TikTok livestream, proving that Astro Audio’s content resonates deeply with the youth.

Digital adex also strengthened almost 20% QoQ, with early signs that our investment into KULT, a culture-first digital marketing venture, is gaining traction. Leveraging creator-led content, KULT’s solutions bring previously-lapsed clients who prefer a digital-first solution back into the Astro ecosystem. Overall, we continue to see demand for integrated multi-platform campaigns, leveraging our content relevance and storytelling in supporting client’s needs, consistent with our ambition of being the ‘Attention Company’.

Homegrown Content Drives Engagement

Local content remained a key engagement driver in Q3 as Malaysian audiences continued to embrace homegrown stories. Malam Terlarang led the pack as the No. 1 local horror film, crossing RM12 million in gross box office (GBO) and becoming the highest-grossing Malaysian horror title of the year. Banduan and Magik Rompak also performed strongly with over RM7 million each in GBO, while long-tail IP monetisation stayed healthy, underscoring the strength of Astro’s library. The upcoming Papa Zola The Movie: Game On is anticipated to capture peak holiday demand and gain strong commercial traction.  

Astro Originals continued to anchor audience growth by delivering quality content that draws in diverse audience segments. Generasi: Perfect 10, an Astro Originals title, concluded its run with exceptional performance, reaching over 4.5 million TV viewers, 1.5 million On Demand Streams and 74 million social views with 30% of its streaming viewers being non-Malay.  

Chinese content also performed well in Q3 with Astro Originals continuing to extend reach across demographics. Bride From The Past, with its blend of mystery and supernatural themes performed impressively, delivering over 990,000 TV viewers, 712,000 On Demand Streams and 225,000 social views with over 60% of its streaming audience being non-Chinese. Anticipation is also building up for The Exiled, premiering in December, which is expected to extend the momentum into Q4 with its intense noir narrative.

Sports programming was again a key engagement driver. While badminton and football (Premier League; MFL) remain fan favourites, the Sepak Takraw League (STL) has grown to capture national interest. This year the league attracted 6.3 million TV viewers, boosted consumption on Astro GO, and continued to realise significant sponsorship revenue.  

Our investment in local sports doesn’t stop at content production and broadcasting. Embedding ESG deep into our core, this quarter the launch of #IniPadangKita signalled our commitment to grassroots football by refurbishing community fields, conducting youth football clinics with experienced coaches and capturing meaningful stories and opportunities for aspiring youth. The initiative brings communities together through improved playing spaces and guided training sessions with professional players that help to inspire & nurture local talent.  

Adjacent Revenue Streams Support Stability

Beyond the core media business, Astro’s adjacent verticals made steady gains. Broadband customer revenue grew 12% year-on-year (YoY) as more households turned to Astro Fibre for seamless connectivity bundled with premium entertainment. Meanwhile, Enterprise revenue grew 2% YoY, supported by a base expansion particularly in secondary towns where Astro’s integrated offerings are helping local businesses enhance customer engagement. Together, these recurring revenue streams not only buffer the Group against market volatility but also reflect growing demand for content-connected services in everyday life.

Safeguarding Creativity and Consumers

Astro remains committed to protecting Malaysia’s creative ecosystem from rising piracy threats. Illegal streaming devices (ISDs) and unauthorised access to content continues to undermine creators, disrupt fair monetisation and expose consumers to multiple cybersecurity threats. According to the independent research papers “National Security and Consumer Cyber Risks of Illicit Streaming Devices in Malaysia” by Professor Paul A. Watters, nearly all ISD apps in market either contain malware or behave as spyware, exposing households to data theft, fraud and wider network compromises.  As digital consumption grows, these risks continue to escalate.  

To counter these threats, Astro intensified enforcement across digital and physical channels. YTD FY26, the Group has removed more than 550,000 illegal links from online platforms serving a combined 30.5 million subscribers. Astro also identified 12 cases of unauthorised usage in commercial establishments and recovered RM649,000 in compensation and subscription value.

Financials and Outlook

Astro posted RM696 million in revenue for Q3 FY2026, supported by stronger advertising performance, higher licensing income and steady broadband growth. EBITDA was RM150 million with a 22% margin. PATAMI was positive at RM9 million, underpinned by operational discipline and contributions from both core and adjacent businesses. The Group remains cash-generative with RM79 million in free cash flow for the quarter.

Looking ahead, Astro expects to benefit from the Q4 holiday-season momentum, including Chinese New Year and year-end festivities for viewership and advertising spend. As always, these celebrations will be supported by a strong content slate featuring family entertainment and tentpole titles alongside engaging connection with our talents on screen, on air, and on ground. The Group aims to maximise monetisation opportunities across content, broadband, and advertising during this high-demand window, while staying focused on its transformation roadmap.

GCEO’s Statement: Euan Smith

“This quarter reflects steady progress for the Group, with improvements signalling gains from our transformation initiatives. Customers continue to respond to clearer, more compelling propositions and as a result Astro One is building momentum. Sooka delivered one of its strongest quarters to date, reinforcing its role as an important growth engine.

We also remained disciplined in managing our content slate. Despite a softer cinema environment, our local titles outperformed this quarter, underscoring the enduring appeal of high-quality Malaysian stories.  

Our investment in local content is also getting regional accolades. I was pleased to note we had 16 wins at the prestigious Asian Academy Creative Awards 2025, showcasing our commitment to elevate Malaysia’s craft on the world stage.  

While trading conditions remain challenging, the underlying direction is positive. We will continue to execute with financial discipline, strengthen our core operations, scale our digital and adjacent businesses, and stay focused on delivering sustainable value for shareholders and customers.”