JSL still targeting 10% revenue growth despite disappointing H1
JSL Global Media missed its first-half revenue target by 30 per cent, blaming slow advertising spending as a key reason.
Company president Ratiwan Srimongkolkul acknowledged that revenue in the first six months of the year was unsatisfactory. Besides experiencing difficulties in running their businesses in a sluggish economy, advertisers were cautious with their budgets as the audience for digital television remained small.
However, the company still has high hopes of reaching its full-year revenue target of Bt1.2 billion after securing about 20 projects from both analog and digital TV broadcasters for the current second half.
"Apart from Channel 7 and MCOT’s Modernine TV channel, now we are co-producing a number of TV shows for new digital TV broadcasters, namely Thairath TV, True4U, Voice TV, Workpoint TV, Springnews TV, One and Channel 8," she said.
The 20 projects, up from seven last year, include TV series, variety shows and game shows.
Ratiwan said her company was adjusting its strategy to become a "content expert" to seize growing opportunities in digital television broadcasting to achieve its revenue target of Bt1.2 billion this year, up 10 per cent from last year.
"The new positioning of the company will enhance our capability to serve the tremendous demand from digital terrestrial TV broadcasters as well as further our opportunities to export content to overseas markets," she said.
To deal with ongoing volatility in the media industry, the company will focus on sponsorships for TV production and on-ground activities to promote both TV programmes and sponsoring brands.
Of the targeted Bt1.2 billion in revenue, Bt350 million is expected to come from sponsorships for TV production, Bt500 million from content production and special projects, and Bt150 million from production of dramas for TV stations, with additional revenue from its four subsidiaries contributing the remaining Bt200 million.
Apart from local operations, the company is working with overseas partners as another key strategy for long-term benefits, Ratiwan said.
Yoshimoto Thailand is an example in this regard. Under this partnership with a Japanese company, JSL will recruit new actors and actresses, presenters and influencers for the Thai entertainment industry as well as facilitate actor exchanges with Japan.
In addition, JSL has sold the format of "Martial Warrior" to a Vietnamese broadcaster.
