Index Creative Village diversifies after merger
After merging with Wave Entertainment, Index Creative Village, an event organiser, is diversifying into the lifestyle entertainment business with the goal of doubling revenue to Bt3 billion in three years.
Kriangkrai Kanjanapokin, co-chief executive officer, said yesterday that Index Creative Village was focusing more on business-to-consumer activities, such as domestic and international concerts, shows, live festivals and travelling exhibitions.
The company is consolidating its nine business units into four cores – creative solutions, marketing services, regional business and lifestyle entertainment.
However, Bt771 million or 55 per cent of this year’s Bt1.4-million revenue will still come from creative-solution services, including event organising, TV production, in-store media technology, communications and museums/exhibitions.
Marketing will contribute Bt501 million or 36 per cent, followed by Bt96 million or 7 per cent from Myanmar, Vietnam, Malaysia and Indonesia and Bt37 million or 2 per cent from lifestyle entertainment.
Kriankarn Kanjanapokin, the other co-CEO, said the company could help Wave translate its existing businesses like food, fashion and education into contents to deliver to consumers via various channels such as TV programmes, exhibitions or shows.
"In three years from now, we believe that our business can make at least Bt3 billion in revenue by synergising the strength of the two," he said.
By 2018, the creative-solution business will remain the key revenue driver at 40 per cent, while each of the remaining three business units will generate about 20 per cent, he said.
Matthew Kichodhan, chairman and CEO of Wave Entertainment, which is listed on the Stock Exchange of Thailand, said that through this new venture, his company’s subsidiary iWave would expand capacity to welcome more lifestyle events and shows.
It will also look for opportunities to enter neighbouring countries, where Index Creative Village has a presence, in the near future.
