KUALA LUMPUR (Nov 9): While many see Netflix as a threat to pay-TV operators, Astro Malaysia Holdings Bhd, however, has formed a partnership to leverage its content.

Astro is offering Netflix to its subscribers. The pay-TV operator's group chief operating officer and chief executive officer Euan Smith said the group is excited with the partnership with Netflix. However, Smith declined to reveal the company's projection on the number of subscribers who would sign up for the new content.

Speaking at the launch ceremony, Smith said: "Today, we hit another milestone by aggregating the Netflix app directly onto Ultra Box so that customers can stream Netflix content seamlessly for an unbeatable big-screen experience at home. More apps including Disney+ Hotstar will quickly follow, making us the number one aggregator of the best streaming services in Malaysia".

"Listening closely to our customers, we are reimagining the entire Astro experience to suit their needs, providing more choice, more outstanding content, more control and more value," he added.

"The exciting new features on the Ultra Box enable our customers to enjoy even more of their favourite local shows and live sports from Astro and now includes all of Netflix's originals, films and documentaries. This exciting new addition comes alongside our ongoing collaborations with Disney+ Hotstar, HBO GO, iQIYI and TVB Anywhere+, with more streaming partners to be announced in the months ahead," said Smith.

Astro's share price fell two sen to close at 95 sen, giving the group a market capitalisation of RM5 billion. The stock has been on a decline since late June, down 20% from this year's peak of RM1.19, although there are 11 "buy" recommendations compared with two "hold" calls and only one "sell" recommendation.

Astro is deemed attractive, according to investment analysts, due to its high dividend yield of more than 7%.