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Astro to offer VSS to strengthen its position in the market
10 Dec
The media and entertainment industry is currently operating in an environment that is experiencing an unprecedented rate of disruption. Industry players are required to reinvent and adapt swiftly to remain relevant in this new reality.
Henry Tan (picture below) CEO Designate, Astro Malaysia Holdings Berhad said, “In an increasingly borderless and digital world, competition is relentless.
“Astro continues to be proactive to reinvigorate the Group in order to strengthen its position in the market and to remain relevant in the years ahead.”
Given the challenging overall economic landscape, Astro Malaysia Holdings Berhad will be undertaking a Voluntary Separation Scheme (VSS) that will allow the Group to further simplify the organisation, enhance operational efficiency and reduce annual operating expenses.
The VSS is offered purely on a voluntary basis.
Notwithstanding this exercise, the Company will put in place measures to ensure that the customer experience will not be impacted by this exercise.
The Company has put in place a transition programme that will provide the right support to employees who opt for the VSS including coaching and skills upgrading training programmes.
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After 20 years of evolving technology, shifting market trends, and adapting to changing consumer behaviour, the media landscape has nearly reached saturation.
We’ve optimised to the fullest, providing advertisers with abundant choices across technology, platforms, data-driven marketing, CTV, OTT, DOOH, influencer marketing, retail, etc.
Media specialists have diversified, but with more options comes the challenge of maintaining income growth. The industry is expanding, but revenue isn’t keeping pace.
Now, we’re at a TURNING POINT: time to explore and harness new sustainable revenue streams. While GroupM forecasts a 7.8% global ad revenue growth in 2024, challenges like antitrust regulation, AI and copyright issues, and platform bans persist.
Collaboration is key: partnerships that thrive on synergy, shared values, and aligned goals are becoming increasingly essential.
Hence, the Malaysian Media Conference, in its 20th year, has assembled the partners and players under one roof on October 25 for a day of learning, sharing, and exploring.
