“After two years of learning the entertainment business, we now have the confidence to put more weight on this high-potential business for future growth of the group after witnessing stable growth of less than 5 per cent a year from Crystal Trading, which is a distributor of MECS DuPont technology,” managing director Tuksaya Teeyanaedtanancha said yesterday.
Unlike her father, who established Crystal Trading more than 25 years ago, Tuksaya, 34, is very passionate about the media and entertainment business.
She pursued her dream by earning bachelor’s and master’s degrees in communication arts at Chulalongkorn University.
The company is organising four entertainment events this year.
The Yangon Rock Festival was held in April by Z Bell, a joint venture with Myanmar-based Z Corporation.
“Let It Be: A Celebration of the Music of The Beatles – Part II” will be the second show for this year under a partnership with Kuala Lumpur-based AC Music Entertainment.
The musical event, which will run from July 16-17, is 70 per cent sold out.
For the Thai market, the company is arranging a fan meeting with South Korean superstar Kim Ki-bum on August 21.
The fourth event is still in the planning process.
The company targets Bt120 million in entertainment revenue this year, up from Bt70 million last year. This will represent almost half of group revenue.
Last year’s group revenue came in at about Bt220 million.
The company is planning to organise at least six shows next year in existing and new markets such as Vietnam and Indonesia.
“Vietnam and Indonesia are promising markets for concerts and fan meetings with Korean pop stars. So we hope to bring those shows to both countries next year,” she said.
In the near future, the entertainment business could contribute 60 per cent of total revenue. Within five years, the company aims at a minimum of Bt500 million in revenue.
Organising shows and concerts for targeted groups is a lucrative business, as the profit margin is at least 20 per cent when more than 70 per cent of tickets are booked, Tuksaya said.
Even though the company is shifting its focus more towards music- and entertainment-related activities, its traditional business will remain a key pillar of the Tuksaya’s family business, as it has already travelled to neighbouring countries such as Myanmar, Cambodia, Malaysia, Singapore, Indonesia and Vietnam.