SportsHero Expands Presence in Southeast Asia with $1.55m PLDT Agreement

Social sports platform operator SportsHero (ASX: SHO) has expanded its Southeast Asian presence, signing a $1.55 million agreement with major Philippines telco PLDT.

Operating out of Singapore, SportsHero offers a platform for connecting sports enthusiasts through various games and challenges.

The company currently has a strong presence in Indonesia with a local version called Olahbola and has partnerships with companies like XL Axiata and iGV.com.

Major Market Share

PLDT Home has a 50.6% share of the Philippines industry revenues and roughly half of the total fibre-to-the-home industry customers, with 3.2 million users as at the end of 2023.

Under the two-year agreement, SportsHero will distribute the iGV Family Game Pass product throughout the Philippines and offer direct carrier billing and ongoing marketing support.

PLDT has announced it will bundle a 12-month iGV Game Pass subscription for its premium home broadband customers, with those wishing to renew their subscription for a second year offered an exclusive extension option.

It will also directly market the iGV Game Pass to its non-premium home broadband customers, who will be able to subscribe at a mutually agreed price.

Further Revenue Opportunities

SportsHero chief executive officer Tom Lapping said that, alongside the premium product opportunity, there were further revenue opportunities across PLDT’s wider existing and new customer base.

The companies would split revenue from any such opportunities 65% to SportsHero and 35% to PLDT.

“This PLDT agreement is a significant step change for SportsHero in the Southeast Asian gaming market, by securing another market leading telco partner in a new country,” Mr Lapping said.

“The Philippines is estimated to have 43 million PC gamers, which is our primary target customer—securing the $1.55m contract value over the first 12 months helps to underpin the company’s growth both in the Philippines and the rest of the region.”