Media Prima maintains profitability

Media Prima Berhad has announced its financial results for the nine months (“9MFY24”) and quarter ended 31 March 2024 (“3QFY24”).

In the face of a challenging economic landscape and geopolitical uncertainties, Media Prima achieved a nine-month revenue of RM650.9 million amid cutbacks in spending from several major advertisers.

Through improved operational efficiencies, cost optimisations, and increased other operating income, the Group achieved a profit after tax (“PAT”) of RM27.9 million for the nine-month period. For 3QFY24, Media Prima recorded a revenue of RM213.2 million and a PAT of RM1.9 million.

Media Prima’s continued dominance in broadcasting, especially with Hot FM retaining its position as the top Malay Commercial Radio Brand with over 3.8 million listeners*, reinforces the Group’s strong market position among audiences. Molek FM’s increased listenership in Pahang, Terengganu, and Kelantan further solidifies Media Prima’s broad reach and digital strength, positioning the Group for continued growth.

Group Chairman of Media Prima, Datuk Seri (Dr) Syed Hussian Aljunid, said, “The media landscape is prone to economic uncertainties and political upheavals on a global scale. While the challenges are likely to persist in the foreseeable future, the Group remains committed to charting a path towards future growth.

Our three-year business plan serves as a comprehensive roadmap, underscoring unparalleled value for audiences and advertisers. The strategic leveraging of brand strengths, coupled with prudent cost management, will ensure the Group’s success and alignment with stakeholder expectations.”

Group Managing Director of Media Prima, Rafiq Razali, added, “The Group’s performance amid global uncertainties is testament to our ability to remain resilient by enhancing internal procedures, optimising platform potential through inventory premiumisation and content boost, while pursuing new revenue sources.

The Group recognises the significance of the domestic advertising landscape and underlines the necessity for vigilant oversight of operational and cost parameters. Furthermore, the Group will continue to deliver innovative solutions and compelling content across diverse media platforms to cater to advertisers’ needs effectively.”

Beyond its commercial achievements, Media Prima remains steadfast in its commitment to environmental, social, and governance (“ESG”) initiatives, actively fostering positive change within communities. Generous public contributions have empowered the Group to provide essential support in healthcare, disaster relief, and poverty alleviation, making a significant difference in the lives of hundreds of beneficiaries.

Internationally, Media Prima continues its collaboration with non-governmental organisations to aid those affected by the conflict in Palestine. To further demonstrate its commitment to the environment, Media Prima is expanding its emissions measurement efforts and is in the process of developing a comprehensive emissions reduction strategy.

* Nielsen Consumer and Media View Radio Listenership Survey (January – December 2023)