Media Prima on trail to turn heading digital-first calm and commerce company
February 22, 2018 - tonton
By ZARINA ZAKARIAH
KUALA LUMPUR: Malaysia’s heading integrated media group, Media Prima Bhd (MPB), is assured that formula subsequent from vital initiatives undertaken in 2017 would accelerate a group’s mutation into a heading digital-first calm and commerce company.
In a financial year finished Dec 31 2017 (FY2017), MPB available an 89 per cent boost in sum digital and commerce income to RM193 million.
The clever income expansion was driven by boost in direct for digital advertising, rising recognition of digital calm and flourishing e-commerce among consumers.
Among a new business initiatives that achieved good in FY2017 was home selling business CJ Wow Shop, that continued to benefit traction with a patron bottom of 640,000 shoppers and sum sales of RM130 million for a year.
The Group’s preparation portal FullAMark reached over 5,000 subscribers with a 52 per cent acclimatisation rate from purebred to paid subscribers, a poignant boost from a 15 per cent acclimatisation rate in 2016.
Media Prima Television Network’s tonton, Malaysia’s colonize over-the-top (OTT) service, stretched a strech to Brunei and Singapore, with some-more skeleton to raise regionally.
Revenue generated from tonton increasing 38 per cent final year, on a behind of aloft user subscription to a service. Tonton has over 7.6 million purebred users to date, and available 84 per cent boost in hours watched and 104 per cent boost in normal watch time.
FY2017 also saw Primeworks Studios (PWS) securing deals with a world’s heading OTT provider Netflix, that bought over 45 titles comprising of Chinese play series, and Malay films and play series.
The year underneath examination saw MPB ranking third in Malaysia behind Google and Facebook in digital strech after a merger of Rev Asia Holdings Sdn Bhd, one of Southeast Asia’s heading digital media companies.
MPB reached a monthly digital assembly strech of 11.1 million in Nov final year.
The fast boost in digital strech is also attributed to a doing of digital-first strategies opposite a Group, that benefitted The New Straits Times Press (Malaysia) Bhd (NSTP) as it aims to gain on a flourishing direct for digital news content.
NSTP’s online news portals are Malaysia’s attention leaders according to ComScore Inc’s information as during Dec 2017, with Harian Metro in stick position with 4.7 million monthly singular visitors and BH in second place with 3.9 million. New Straits Times’ website reached 1.3 million monthly singular visitors final year.
“We are gratified with a enlivening outcome of a mutation efforts and we exceeded many of a FY2017 targets brazen of schedule. We will sojourn focused on honing a rival advantage in a digital media landscape while gripping a tighten watch on a normal media segments.
“Moving forward, we will continue to make vital and advantageous investments to raise long-term shareholder value,” MPB Group authority Tan Sri Ismee Ismail pronounced in a matter yesterday.
Group handling executive Datuk Kamal Khalid pronounced MPB’s achievements to date underscore a swell of a mutation devise and fuels a group’s certainty in Media Prima’s future.
“Last year, we continued to browbeat a digital space with a award-winning content. We trust a Group has determined much-needed foundations to grow further,” he added.
Nonetheless, a continued severe handling sourroundings faced by media companies in Malaysia has impacted a industry. The dump in sum promotion output for a year resulted in reduce revenues for Media Prima’s television, imitation and radio platforms.
MPB’s income for a financial year declined by 7 per cent opposite a prior analogous financial year, attributed to reduce promotion and journal sales as consumers increasingly change to digital media.
The Group available a net detriment of RM669.7 million in 2017 opposite a net detriment of RM69.8 million in a analogous year. This was especially due to spoil charges and resizing of a Group’s workforce in line with a concentration to turn a digital-first calm and commerce company.
If these were excluded, a Group would post a reduce detriment after taxation (LAT) of RM172.3 million.
“We accelerated a business mutation devise in 2017 with a perspective to turn a media organization improved versed to gain on opportunities and confront a hurdles in a new epoch dominated by digital media.
“Our formula uncover we have not managed to entirely shun them, though we are speedy by a outcomes of a efforts. We are holding a event to make a required changes and understanding with bequest resources and practices so that we can live adult to a prophesy of being a heading digital-first calm and commerce company.
“We will continue to find new ways to precedence a strengths of a normal media brands to accommodate elaborating consumer trends while capitalising on a direct for some-more digital products,” Kamal said.