ASTRO ENDS 2025 WITH TWO CONSECUTIVE QUARTERS OF REVENUE UPLIFT

KUALA LUMPUR: Astro Malaysia Holdings Berhad (Astro) closed 2025 on a positive note, delivering two consecutive quarters of revenue growth, reflecting good momentum from its ongoing transformation strategy. Revenue rose by 2% quarter-on-quarter (QoQ) to RM696 million in Q3FY26, followed by another 2% QoQ increase to RM713 million in Q4FY26, marking the Group’s strongest quarterly revenue for the financial year. This uplift was driven by improved advertising performance, continued broadband growth and contributions from its film business.

Building on this momentum, Astro also achieved robust audience attention in 2025, recording almost 20 billion views across television, radio, streaming, and digital platforms. Content remained the cornerstone of the Group’s strategy, with local and vernacular content contributing 81% of total viewing, reflecting a 2% Year-on-Year (YoY) increase and underscoring Astro’s role as Malaysia’s leading content creator and aggregator.

From blockbuster films and must-watch dramas to live national celebrations, streaming innovations and digital collaborations, 2025 marked a year in which Astro demonstrated its ability to drive content-led engagement that extends far beyond traditional broadcasting.

Stories That Captivated the Nation

Astro contributed to six of the top 10 Malaysian films released in 2025, generating RM110 million in box office collections and securing 39% of the local film market share. Leading the slate was Papa Zola The Movie: Game On which surpassed RM69 million at the Malaysian box office and reached an audience of 4.5 million across Southeast Asia, becoming the highest-grossing Malaysian animated film of all time. Its international rollout continues across the Middle East and other Asian countries.

Astro’s ability to deliver commercially successful content across genres and language segments was further demonstrated by the strong performance of its other titles. Malam Terlarang collected RM13 million at the box office, making it the highest-grossing Malaysian horror film of the year, while Banduan claimed the top spot as Malaysia’s No 1 locally adapted Tamil film. Looking ahead, Astro 2026 film pipeline is robust, featuring a diverse slate designed to balance creative excellence with strong commercial returns.

Gegar Vaganza remained Malaysia’s No. 1 TV show in 2025, reaching over 120 million total views across Astro’s platforms and 231 million social views. Meanwhile, Dia Imamku emerged as the No.1 drama, achieving more than 197 million total views and 415 million social views. Sports continued to drive strong engagement, with the PETRONAS Malaysia Open 2026 recording more than 37 million total views and generating 16.4 million views across Astro Sports’ social media platforms. The Piala FA Final between Johor Darul Ta’zim (JDT) and Sabah also attracted significant attention, drawing 5.4 million total views and 11.7 million social views.

From Screens to Shared Experiences  

The influence of Astro’s IPs and brands continued to grow in 2025, with its stories and moments becoming part of Malaysians’ lived experiences, festive celebrations and interactive digital campaigns.  

Konsert Countdown KITA 2026 drew more than 143,000 attendees, uniting Malaysians through music, live performances and a shared moment of national celebration. During the Hari Raya festive season, Astro rolled out a special programming lineup under the theme “Bila Bersama, Lagi Jadi” celebrating the spirit of togetherness throughout the month of Syawal.  

The festive lineup included 16 Raya telemovies on the Ria and Prima channels, alongside special programmes such as Gegar Vaganza Raya Special, MeleTOP Raya and Konsert GenKRU. Adding to the celebrations, Rocketfuel Entertainment (RFE) released seven highly anticipated Raya songs, headlined by Hael Husaini, ALPHA, Sharul Kamal, Mierul Aiman, Dayang Nurfaizah, Nadeera and Wani Kayrie. Astro Radio also launched a special festive track titled “Inilah Raya” performed by 20 presenters from ERA, ERA Sabah, ERA Sarawak, SINAR, THR GEGAR and ZAYAN.  

This followed the Group’s strong presence during the recent Chinese New Year season, where Astro engaged audiences through festive songs, a special content lineup and extensive on-ground activities across multiple states, promoting unity and celebration through mini-concerts and grassroots engagements in schools. At the recent MY FM MELODY GOXUAN KUDADA Chap Goh Mei Party, more than 10,000 Malaysians turned up despite the rain for a shared live celebration, while over 2 million joined through the livestream.

Growing Digital and Adjacent Businesses  

Sooka continues to scale its community of digital-native viewers, having delivered 204 million monthly minutes, its highest on record, and growing its VIP paying base by 44% YoY. This is supported by strong sports programming, local content tentpoles and continuous platform enhancements. The new Sooka Shorts micro-drama format launched with 20 titles, with additional regional content from Korea and China coming next quarter.  

Beyond streaming, Astro’s adjacent business, Enterprise, grew revenue by 6% YoY despite the challenging competition in the hospitality sector. Through the BizOne Rewards Campaign, Astro empowered over 160 local businesses nationwide, helping SMEs strengthen brand visibility and become vibrant community hubs by leveraging Astro’s content, media platforms, and on-ground activations.

Astro’s digital advertising momentum was strengthened by its investment in KULT, which has begun to reactivate both ‘digital-only’ and lapsed clients. KULT is rapidly adopting AI into its creative delivery. Notable campaigns during the quarter included “Meeriah 2gether,” a festive micro-drama collaboration with Mamee that blended storytelling across Chinese New Year, Ramadan, and Hari Raya through a digital-first approach.

Meanwhile, Astro Audio continued to expand its creative relevance well beyond FM airwaves. New storytelling formats, such as a Raya-themed collaboration between Geng 3 Pagi ERA and PROTON, delivered a car launch via a sitcom-style livestream across social media, gaining more than 2 million views on social media platforms. These new formats, including social live-selling campaigns with various clients, are encouraging proof that Astro Media Solutions’ transformation is gaining traction.

Financial Performance

The Group’s content-led strategy continued to be supported by disciplined financial management. Key highlights include:  

• Revenue: RM713 million in Q4 FY26, up 2% quarter-on-quarter (QoQ), supported by stronger advertising, broadband and film.

• ADEX: Advertising revenue rose a pleasing 18% QoQ, driven by stronger demand across television, radio, and digital platforms.

• ARPU: Average revenue per user moderated slightly to RM94.30, aligned with Astro’s strategy of broadening its customer base with better entry-level value while strengthening long-term platform engagement.

• EBITDA: Achieved RM137 million with a margin of 19%, reflecting higher cost-to-serve initiatives, administrative expenses, broadband expansion and continued investments in content.

• PATAMI: The Group delivered RM24 million in Q4 2025.

• Free Cash Flow: The Group remains cash-generative with RM107 million in free cash flow, reflecting its ongoing disciplined capital management.  

• FY26 Performance: Revenue RM2.8 billion, EBITDA RM614 million, and PATAMI RM63 million.

• Cost Discipline: Operating expenses declined 6% YoY, driven by lower content costs, cost-to-serve, and customer acquisition costs, partially offset by higher broadband costs.

The Group continues to operate a dual cost structure, carrying both legacy Pay-TV costs alongside investments that support the digital and streaming platforms, although legacy costs continue to taper gradually as the transformation progresses.

Looking ahead, Astro continues to reprioritise resources based on business strategies, enhance cost discipline, and invest selectively in content, digital capabilities and adjacent businesses that strengthen its platform ecosystem and drive sustainable long-term growth.

Safeguarding Content and Digital Trust

Astro continued to actively combat online piracy in FY26, supporting national efforts alongside the Malaysian Communications and Multimedia Commission (MCMC) and industry peers to encourage Malaysians to access content only through safe and legitimate platforms. Key highlights:

• Regulatory: Amendments to the Communications and Multimedia Act 1998, effective from February 2025, now criminalise the use of illicit streaming devices (ISD), even if authority approved.

• Illegal links takedown: Over 1.1 million illegal links were taken down during the year, including 1,667 Telegram groups with a combined total of 63.9 million subscribers.

• E-commerce enforcement: 28,700 listings promoting ISDs and piracy-enabling applications were removed from online marketplaces.

• Commercial enforcement: RM649,000 was recovered in legal compensation and subscription recoveries across 15 cases in commercial establishments.

• Public awareness: Active participation in Safer Internet Day 2026, raising awareness of the risks associated with illegal streaming, including malware, phishing and data theft.

Advancing ESG and Industry Recognitions

Astro continued to make progress in its environmental, social, and governance commitments while earning recognition for sustainability, good governance and brand trust.

• FTSE4Good Bursa Malaysia: Sustained a score of 4.1 out of 5 in December 2025, placing Astro among the top 1% of media companies globally.

• The Edge ESG Awards 2025: Received the Gold Award in the Telecommunications & Media category, recognising strong ESG practices and transparency.

• United Nations Global Compact Network Malaysia & Brunei (UNGCMYB): Included as a 2-Star Lister in the ESG Select List 2025.

• National Annual Corporate Governance & Sustainability Award (NACGSA) 2025: Recognised among the Top 50 Public Listed Companies.

• Malaysian PR Awards (MPRA) 2025: Won Gold and Campaign of the Year in the Advancing Accessibility category, highlighting Astro’s commitment to inclusive communications.

• Putra Brand Awards 2025 for Media & Network: Astro: (Platinum), ERA (Gold) and HITZ (Bronze).

• Putra Aria Brand Awards 2025: Astro Fibre (Gold, Communication Networks) and MY FM (Bronze, Media & Networks).

Together, these recognitions highlight the Group’s continued focus on responsible business practices and meaningful engagement with audiences and communities.

GCEO’s Statement: Euan Smith

“As Astro marks its 30th anniversary, it is a timely moment to reflect on how far we have come and how we continue to evolve alongside the audiences and communities we serve. Over the past decade, Astro has transformed from a satellite television operator into a fully integrated content and digital entertainment platform. That journey of progressing together with Malaysians continues to shape our strategy today.

2025 delivered encouraging momentum across many areas of the business. The strength of our local storytelling remains our key differentiator, with Malaysian content resonating strongly with audiences at home and increasingly across the region. It is particularly rewarding to see titles such as Papa Zola The Movie: Game On reaching 4.5 million viewers across Southeast Asia, reinforcing the export potential of Malaysia’s creative talent.

We are also seeing some positive signs in advertising across television, radio and digital, whilst growing our digital footprint. Our streaming platform, Sooka, continues to gain traction supported by compelling sports, strong local content, and strategic partnerships.  

As we navigate a challenging global environment amid ongoing conflict in the Middle East, we remain focused on delivering value to Malaysians. We believe our value-driven Astro One packs are well positioned to meet Malaysians’ needs by providing an affordable, safe and trusted way for them to stay informed while enjoying high-quality entertainment. We remain steadfast in our commitment to nurture the broader creative industry as we progress together with Malaysians into the future.”