Wednesday, February 15, 2012

Hathway Cable - Digital Dreams Coming True

Hathway Cable and Datacom has already seeded ~27% (~40% including CAS areas) boxes in proposed DAS areas of Mumbai and ~18% in Delhi. With a target of 0.4mn boxes in Kolkata through its JV with GTPL, the company plans to seed ~2.2mn set top boxes in Phase 1. Hathway added ~0.17mn digital subscribers in Q3FY12 and now its digital subscriber base stands at ~1.9mn.

Phase 1 target: Hathway targets to add 2.2mn digital subscribers in Phase 1. Its standalone entity will order ~1.8mn boxes while subsidiaries will order 0.4mn boxes

Subscriber universe: Hathway's subscriber universe is ~8.9mn. DEN and WWIL have a subscriber universes of ~11mn and ~8mn respectively.

STBs: Hathway has ordered 1.8mn STBs; letter of credits have been opened for 1.3mn boxes, while 0.5mn boxes are in inventory.

Metros: Hathway has already seeded ~27% (~40% including CAS areas) boxes in proposed DAS areas of Mumbai and ~18% in Delhi. The number of boxes seeded stands at ~0.35mn till now in non‐CAS areas.

HD: 3200‐3500 subscribers till now. Hathway is offering HD mainly as a combo with broadband. The company hopes to provide 15‐16 HD channels. 3000‐5000 HD subscribers per month will be added in the most optimistic scenario.

Channels: 109 analog channels as of now. Post‐digitization, there is potential to telecast 300‐400 channels.

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