Provider of Cable TV Services in its Franchise Areas with Highly Attractive Demographics
TBC Group's franchise areas have experienced a 1.91% CAGR in the number of households from 2013 to 2023, as compared to Taiwan's national average of 1.10% during the same period
Based on the TBC Group's current market position as the major licensed provider of cable TV services in its franchise areas, TBC Group is well positioned to capitalise on the household growth and favourable demographics of its franchise areas
High Barriers to Entry
TBC Group's network covers more than 1.3 million households, a degree of coverage which would require significant time and investment to replicate
Long-standing relationship with subscriber base and strong brand awareness
Broadcasts over 100 Basic Cable TV channels, including all of the top 20 most popular channels in Taiwan
Resilient Business Model with Efficient Cost Structure
Subscription-based business model with substantially all payments made in advance
Consistent YoY growth in Premium Digital TV and Broadband subscribers withstanding economic downturns and competition
Resilient revenue and EBITDA underpinned by subscriber growth and scalable cost structure
Low and stable content costs preserve profitability - no "killer content"
Organic Growth Potential
Growth in subscribers driven by cross-selling and bundling initiatives of Broadband and Premium Digital TV services
Strong Local Management Team
Key executives of the local asset management have over 20 years of experience in communications, media and finance
The current management team will continue to be instrumental in the Group's financial and operational performance
Superior Track Record of Product Innovation and Marketing
Market leader in bringing in innovative technology and services to market in Taiwan
Substantially invested, advanced HFC Network with state-of-the-art delivery platform
DOCSIS 3.1 enabled network that meets consumer demand for high-speed internet
Ownership of HFC network and fiber backbone allows TBC Group to operate independently of third-party networks