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Business

Globe benefits from shift into digital solutions platform

Richmond Mercurio - The Philippine Star
Globe benefits from shift into digital solutions platform
Globe said its strategic shift to become a digital solutions platform has begun to bear fruit as non-telco revenues from its subsidiaries amounted to P791 million during the three-month period.
STAR / File

MANILA, Philippines — Globe Telecom Inc. has started reaping the benefits of its shift into a digital solutions platform, with revenues from non-telco services soaring by 252 percent year-on-year in the first quarter.

Globe said its strategic shift to become a digital solutions platform has begun to bear fruit as non-telco revenues from its subsidiaries amounted to P791 million during the three-month period.

The Ayala-led telco said this marks the first quarter that non-telco services have significantly contributed to its topline.

Globe attributed the positive results to the growth across most of its subsidiaries and affiliates.

Aside from popular e-wallet service GCash and telehealth platforms KonsultaMD and HealthNow, Globe said marked improvements were seen in the performance of Adspark, Yondu, ECPay, and Asticom.

AdSpark, the largest local ad-based data-powered digital media and creative agency, has already launched more than 2,800 digital campaigns.

Multi-payment platform ECPay, on the other hand, now has a general trade retail base of over 154,000.

Asticom, a shared services company which serves more than 150 clients from all over the country, has spawned four subsidiaries in 2021 alone.

Globe said these developments bring the company closer to its vision of going beyond telco to empower the Filipino digital lifestyle.

“We are optimistic about the growth prospects for new ventures in Globe’s expanding portfolio.  We believe that our ceaseless innovation through various digital platforms, backed by the growing investment in our data network, will strengthen our leadership in the digital space,” Globe president and CEO Ernest Cu said.

Globe last year announced it was slowly pivoting away from its core telecommunications business, spurred by rapid consumer digital adoption.

“Our commitment to making continuous enhancements in our products and services are all geared towards empowering and uplifting Filipino lives,” Cu said.

GLOBE

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