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Ads and content help Media Prima boost profit

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Media solutions arm and broadcasting segment prime movers in boosting group profit by up to 24%

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Free Malaysia Today
Advertising and content sales helped Media Prima achieve higher revenue and profits.

PETALING JAYA:
Higher revenue from advertising and content sales, especially in broadcasting, helped Media Prima Bhd record higher profits in the financial quarter just ended.

Free Malaysia Today
Syed Hussian Aljunid.

The integrated media group reported a profit after tax (PAT) of RM15.6 million for the three months to June 30, 2022 (Q2 2022), a 23% increase from RM12.7 million in the previous corresponding period (Q2 2021).

For the first six months of 2022 (H1 2022), it recorded a PAT of RM20.8 million, which was a 24% increase from RM16.8 million earned in the previous corresponding period (H1 2021).

In a statement issued today, the group said there was improved momentum in all its businesses.

Driven by Media Prima Omnia, its media solutions arm, advertising revenue rose by 9% groupwide to RM370.5 million in H1 2022 from RM341.1 million in the previous corresponding period.

Media Prima said higher contributions from the broadcasting segment Media Prima Television Networks and Media Prima Audio helped the group achieve a 15% increase in advertising revenue to RM243.8 million in H1 2022 compared with H1 2021.

Free Malaysia Today
Rafiq Razali.

Revenue from its digital business REV Media Group also rose by 15% to RM47.9 million. Its out-of-home business Big Tree posted a 13% revenue growth to RM56 million, reflecting a gradual return in demand for outdoor advertising.

It said content sales revenue also rose, by 39%, thanks to the demand for local input from existing and new streaming service providers.

Group chairman Syed Hussian Aljunid said the fact that Media Prima posted encouraging results despite the economic challenges not only showed that there is a recovery in the advertising business but also reaffirmed Media Prima as a leader in the media and entertainment industry.

“Our TV channels remain the most watched in the country while our brands are the go-to sources for news and entertainment content,” he added.

Group managing director Rafiq Razali said continuous process and operational efficiency would help to head off market headwinds in the second half of the financial year.

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