JSL blames digital disruption, Covid-19 for ‘partial business termination’

The company, which is well-known among Thai TV viewers, blamed digital disruption and Covid-19, as well as the birth of several new television stations for the decision.

“Tremendous changes in the media industry over the past eight years have caused severe impacts on the company’s business,” JSL said in a statement issued on Thursday.

“Despite the company’s efforts to adapt and survive in the entertainment media industry, we could not achieve our goal. So, JSL Global Media resolved to end its operations partially from July 1 onwards,” the statement said, without elaborating.

The company has suffered accumulated operating losses of more than 100 million baht in recent years, according to data from the Ministry of Commerce’s Department of Business Development.

In 2019, JSL’s revenues totalled 444.4 million baht, against total expenditure of 456.9 million, a net loss of 24.8 million baht.

In the following year, when the Covid-19 pandemic struck, the company’s revenue totalled 354.7 million baht, and expenditure amounted to 361.1 million, a net loss of 22.3 million.

The company’s revenue shrank to 198.2 million baht last year, at the height of Covid-19, while its expenditure totalled 236.5 million, the net loss jumping to 57.1 million baht.

JSL was founded in November 1979 to produce programme content for Channel 5 before expanding to other TV stations, including Channel 7, PPTV and MCOT, and was also involved in the event organising business. Among its most popular programmes are “Joh Jai” variety talk show and “Tam Sanya” celebrity reality show.

In its statement, the company thanked its hosting TV stations, advertising agencies and customers, as well as other media outlets and its viewers for their “continued support”.

JSL also recognised its employees’ contributions over the years. “We hope to get an opportunity of returning to offer new forms of creative works for society and our viewers,” the statement said.