Channel 3 operator targets THB5bn profit next year from new film studio
The operator of Channel 3 on Saturday unveiled its plan to generate 5 billion baht in profit next year by becoming a giant content provider.
BEC World will invest 2 billion baht to create 30 items of original content per year, especially dramas.
"All dramas will also have English names to penetrate the international market," said BEC World vice president Piriyadit Choophungart and assistant vice president Panugorn Puengpradit. The content will include films.
The operator will showcase its new creations in the "Asia TV Forum & Market", the biggest media content market in Asia, they added.
Piriyadit and Panugorn said BEC Studios, which was established in June this year to create content and address problems of filming abroad, will recruit more employees to support production of 10 items of original content per year.
"BEC Studios has reduced production time and costs in the long term as we don't have to film overseas," they said.
BEC World has launched film and music operations as well as an integrated marketing communication business in a bid to reduce reliance on TV revenue and become a content provider, the executives added.
The company said it will produce three to five films next year. It expects revenue from the film "Bua Pan Fun Yap", a collaboration between BEC World and Major Cineplex Group, to start flowing in 2023.
Channel 3's revenue from January to September this year was 3.89 billion baht, down 5% year on year. The channel's net profit during the first nine months was 458.2 million baht, down from 466.4 million baht in the same period last year.
The decline in revenue and profit was due to a drop in purchasing power and advertising revenue amid the economic slowdown.