Nation Group vows to remain on top, bond issue announced
Recognising the need to remain on top of digital disruption, the Nation Group has unveiled plans to expand its business and focus on enriching content to encompass all communities and foster sustainable growth, by issuing up to 300 million baht in bonds.
Warangkana Kalayanapradit, deputy chairman of The Nation’s board, recently spoke of the group’s business objectives for 2024, which include striving to maintain its position as the leader in delivering news through both traditional and new media platforms such as television, newspapers, new media, online platforms, and social media.
The group is also looking to expand its organisation on-ground activities such as seminars, expos, awards ceremonies, CSR events, and dinner talks, with over 70 events per year catering to various target groups.
The business plan focuses on enhancing content across all platforms, particularly in content production and utilizing AI technology to enhance editorial capabilities across a conglomerate with more than 10 brands.
The introduction of the AI female announcer Natcha on April 1 was seen as a significant milestone in Thai media. Although this isn't the first AI project in Thailand, Natcha represents another advancement in news broadcasting as she can speak naturally.
The benefits of incorporating AI include long-term cost reduction, and enhancing colour on screens. In the future, there will be developments in AI announcers like Natcha, which will allow then to move, gesture and have more personality. This presents an opportunity for the organisation to expand into various roles like influencers, event hosts, and virtual conference moderators, where AI reporters can serve as brand ambassadors for the next generation of television.
“The development of Natcha involves internal personnel within the organisation. However, in the future, if Natcha needs to become physically mobile, partnerships may be required. Negotiations for such collaborations are underway," Warangkana said.
The total number of Nation Group followers across all platforms currently exceeds 64.6 million people, with approximately 4.7 million viewers daily. However, becoming a media outlet is increasingly challenging in today’s online world. Therefore, the company is considering expanding from its current offerings by developing new business ventures in collaboration with experienced individuals in the film industry, such as Black Dragon Entertainment, a major player in content production in South Korea known for creating films like "Parasite”, the series “Crash Landing on You” and Transformation”.
Initial collaborations have produced its first movie “Monk Konnichiwa”, starring Arak “Pae” Amornsupasiri, which is scheduled for release in the middle of this year. Another recently announced film is "Nak Rak Phi Mak...Maak Maak," which brings together renowned Thai comedians Mam, Teng, and Nong. It is scheduled to be released in December.
Another area with significant growth potential is the festival industry, particularly music festivals. The aim is to make these an iconic event for the country, drawing tourists to Thailand. Collaborating with national experts, the goal is to attract no fewer than 100,000 attendees. This venture holds promising growth opportunities.
The Group will also revisit its 54 years of media business operations and leverage the vast intellectual property resources that include football coverage, video clips, content, and images stored in the archives. These resources are currently undergoing organization to allow them to be effectively utilised for future benefit. This initiative aims to create business value and establish a sustainable platform for the organization, ensuring long-term viability and fostering full eco-system innovation.
Issuing corporate bonds is another financing option that attracts significant interest from investors. Selling corporate bonds can be relatively convenient and timely in response to market conditions. There is therefore a plan to explore issuing corporate bonds of up to 300 million baht. The objective is to use the funds to repay short- to long-term borrowing and to support operations or provide revolving funds to support the company's operations and subsidiaries. This aims to invest in related businesses to support the core business.
The issuance of corporate bonds must comply with the regulations of the Securities and Exchange Commission (SEC), the Stock Exchange of Thailand (SET) and the Thai Bond Market Association.
Nation Group is also committed to combating corporate corruption by emphasising conducting business with honesty, integrity, and transparency. Adhering to principles and practices outlined in anti-corruption policies and guidelines is crucial and in this regard, the company has been certified as a member of the Private Sector Collective Action Coalition Against Corruption (CAC), a project aimed at promoting awareness and collaboration among Thai private sector entities to address corruption issues. The CAC policy encourages companies to establish policies and practices to prevent bribery and corruption in all forms. A member since September 30, 2017, with a membership term of three years, the company seen its membership renewed on September 30, 2020, and again on September 30, 2023, demonstrating the company's commitment to ensuring that anti-corruption measures are continually implemented and prioritized.
In addition, the company has developed the "Nation Way" handbook, which was last updated in 2023, to serve as a code of conduct for media professionals within the Nation Group. This handbook outlines the responsibilities and ethical standards expected of journalists and staff members working within the Nation Group.
The total revenue structure in 2023 amounted to 911 million baht. A significant change that occurred in 2023 was the addition of two new businesses, namely “Thansettakij” and "Nation News," which led to an approximate revenue of 383 million baht for the media business, representing a 10% increase compared to the 349 million baht in 2022. Meanwhile, publishing in 2023 generated 163 million baht, up from the previous year's 152 million baht, marking a 7% increase.
Also in 2023, large-scale election-related events were held nationwide, resulting in a significant increase in event revenue. Event revenue increased by 159 million baht, up from 119 million baht the previous year, representing a 34% increase.
