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Media Prima trumps challenges to return higher profits

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Better results seen across all businesses in the media group.

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Free Malaysia Today
Media Prima expects the media landscape to be more challenging in the months ahead.

PETALING JAYA:
Despite the increasingly challenging landscape, Media Prima Bhd continued to return higher revenues and profits.

In the nine-month period to Sept 30, the group posted a RM27 million profit after tax (PAT) on a revenue of RM745.2 million.

This was a 15% increase in PAT compared with the previous corresponding period.

The group posted encouraging results across all its businesses.

In a statement issued to the press today, Media Prima said its advertising revenue registered a 7% increase in the first nine months of the 2022 financial year compared with the same period in 2021. This was driven mostly by its marketing solutions subsidiary Media Prima Omnia.

Its broadcasting businesses Media Prima Television Networks and Media Prima Audio saw a 9% growth to RM355.1 million in the current financial period from RM326 million previously.

The revenue from the sale of content was up 58% to RM45.8 million from RM29.1 million previously.

The group’s digital arm, REV Media Group, registered an 11% increase in revenue to RM73.8 million from RM66.6 million while its out-of-home segment Big Tree saw earnings rise by 23%. Media Prima attributed the increase to a rebound in the demand for out-of-home advertising.

For the third quarter (Q3 2022), Media Prima recorded a revenue of RM237.2 million and PAT of RM6.1 million.

The group advertising revenue for Q3 2022 was 4% higher compared with Q3 2021.

Free Malaysia Today
Syed Hussain Aljunid.

It said Media Prima Television Networks has captured more than 39% of Malaysia’s TV audience in the period under review compared with 32% in the same period in 2021.

TV3 remains the most watched TV channel with a 25% share of viewership.

Media Prima also said it had entered into a collaboration with Hunan Broadcasting System, one of China’s leading TV networks, to jointly produce programmes and for TV8 to air content from the Chinese network.

To expand and strengthen its reach among the Chinese-speaking-only community, REV Media Group acquired the intellectual property assets of Tantannews, a popular Chinese social media news portal, from Monster Scape Sdn Bhd.

“The addition will accelerate the growth of REV Media Group’s Chinese network, which includes ViralCham, Rojaklah, 8TV and 8FM,” Media Prima said in its statement.

Media Prima group chairman Syed Hussain Aljunid said that while the group had posted profits in consecutive quarters, the coming months would be challenging.

Free Malaysia Today
Rafiq Razali.

“Nonetheless, we remain cautiously optimistic (that we will remain) as Malaysia’s leading media group. We will focus on improving internal efficiencies and keep a close watch on costs,” he said.

Group managing director Rafiq Razali said subdued consumer sentiment and increasing competition domestically and globally are challenges that Media Prima is facing. “These challenges have affected the non-advertising revenue,” he said.

“(However) with a wealth of data across multiple media platforms, we can leverage each other’s strengths for better ratings, to reach more viewers, listeners and readers as well as expand our digital reach,” he added.

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