Media Prima maintains Ad revenue momentum

Media Prima Berhad , Malaysia’s leading and largest integrated media group, remained resilient amid an increasingly challenging media landscape, recording RM745.2 million in revenue and RM27.0 million in Profit after Tax for the nine months ended 30 September 2022. 

Overall, Media Prima posted a 15% increase in PAT against the comparative period ended 30 September 2021. 

Group advertising revenue remained steady with a 7% increase against the comparative period, driven by its marketing solutions subsidiary, Media Prima Omnia. 

The Group posted encouraging results across its businesses. Media Prima Omnia registered overall growth against the comparative period. 

Broadcasting — represented by Media Prima Television Networks and Media Prima Audio — recorded a 9% revenue growth to RM355.1 million in the current period, from RM326.0 million in the comparative period. 

Content sales revenue grew 58% to RM45.8 million in the current period from RM29.1 million in the comparative period. 

In the nine months under review, the Group’s digital arm, REV Media Group, posted a revenue increase of 11% to RM73.8 million from RM66.6 million in the comparative period. Revenue from the Group’s out-of-home segment, Big Tree, increased by 23% in the current period against the previous period, reflecting a rebound in demand for out-of-home advertising. 

The Group also released its results for the three months under review ended 30 September 2022, recording a revenue of RM237.2 million and PAT of RM6.1 million. Group advertising revenue increased by 4% in the current quarter against the corresponding quarter ended 30 September 2021. 

Media Prima Television Networks remained the most watched television network, capturing over 39% of Malaysia’s television audience in the current period, an increase from 32% in the corresponding period. 

TV3 continued to be Malaysia’s most watched television channel with a 25% audience share. The Group is committed to bringing the best programmes to Malaysian viewers, having entered into a collaboration with one of China’s leading television networks, 

Hunan Broadcasting System, to co-produce programmes and broadcast Hunan-produced content on 8TV. 

In September 2022, REV Media Group acquired the intellectual property assets of popular Chinese social news portal, Tantannews, from Monster Scape Sdn Bhd, to expand and strengthen its reach among the Chinese-speaking online community. 

This addition will accelerate the growth of REV Media Group’s Chinese Network which includes popular brands ViralCham, Rojaklah, 8TV and 8FM.

Datuk Seri (Dr) Syed Hussian Aljunid, Group Chairman of Media Prima, said: “Our financial performance reflects the dynamic operating landscape that we are faced with today. 

Despite this, we posted resilient results — recording consecutive quarterly profits while maintaining our leadership positions across our businesses. 

We expect the next months to be challenging for the Group but remain cautiously optimistic as Malaysia’s leading media group. We will focus on improving internal efficiencies and keep a close watch on costs.”

Rafiq Razali, Group Managing Director of Media Prima, said: “We are pleased with our advertising revenue contributions which continue to grow, reflecting the popularity of our brands among advertisers. 

Nonetheless, our results demonstrate that the Group is facing challenges such as subdued consumer sentiment and increasing competition locally and globally, which has affected non-advertising revenue. 

Moving forward, we will capitalise our strengths to grow further. With a wealth of data across multiple media platforms, we can leverage each other’s strengths for better ratings, to reach more viewers, listeners, readers and expand our digital reach.”