KUALA LUMPUR, 30 May 2022 – Media Prima Berhad (“Media Prima” or the “Group”), Malaysia’s leading and largest integrated media group, today posted its results for the first quarter ended 31 March 2022 (“1QFY22”).
The Group posted a profit after tax (“PAT”) of RM5.2 million in 1QFY22, a 26% increase from RM4.2 million in the corresponding period of the previous year (“1QFY21”). This marks Media Prima’s continued quarterly profit momentum amid a challenging operating landscape.
Group revenue remained resilient, with a marginal decrease of 3% to RM247.5 million in 1QFY22 from RM254.5 million in 1QFY21. Media Prima’s revenue was backed by a 14% increase in advertising revenue, registering RM174.4 million for the period under review as compared to RM152.3 million in 1QFY21. The Group’s advertising is led by Media Prima Omnia’s (“Omnia”) integrated strategy which leverages Media Prima’s popular brands and mass reach across multiple media platforms. Advertising revenue across the Group’s businesses improved, led by higher contributions from the Group’s broadcasting business.
The Group’s broadcasting segment — represented by Media Prima Television Networks and Media Prima Audio — posted a revenue increase of 28% to RM118.3 million in 1QFY22 from RM92.5 million in 1QFY21. The Group’s publishing segment — the New Straits Times Press — also recorded stronger advertising revenue in 1QFY22 against the corresponding quarter. Media Prima’s out-of-home business, Big Tree, recorded a 13% revenue increase in 1QFY22 against the corresponding period of the previous year, following the reopening of more economic sectors and a gradual return in demand for outdoor advertising. Content sales revenue more than doubled in the three months under review due to the increase in demand for more local content from existing and new streaming service providers.
The Group’s digital segment, REV Media Group (“RMG”), recorded a 22% revenue increase to RM23.5 million in 1QFY22 against the corresponding quarter. Media Prima remained the leading digital publisher with RMG reaching over 15.8 million Malaysians every month. RMG was recently awarded Best Digital Publisher of the Year for the third time at the Malaysian Digital Association “d Awards 2022”.
Datuk Seri (Dr) Syed Hussian Aljunid, Group Chairman of Media Prima, said: “We are pleased with our results for 1QFY22. This was backed by stronger advertising revenue contributions across all our business segments which illustrates that we have established a strong sales strategy and team under Omnia. The Group believes that Omnia is poised to benefit from the reopening of the economy which has prompted advertisers to spend more. We are also heartened by the performance of our broadcasting and digital segments which have contributed significantly to the Group’s overall revenue.”
“All this gives us confidence that we are in a stronger position to deliver so much more as an integrated media company. Barring unforeseen circumstances, we remain cautiously optimistic of our performance in the remaining quarters and will ensure that we continue to deliver exceptional value to all our stakeholders,” he added.
Rafiq Razali, Group Managing Director of Media Prima, said: “We marched into 2022 on a positive note, recording a profitable quarter following our strong performance in FY21, despite the period under review being a traditionally challenging period of the financial year. This illustrates that the Group remains resilient and agile despite the fast-changing media landscape. Nonetheless, the challenges and competition will evolve and we must continue to adapt and reform to ensure Media Prima always delivers the best to our advertisers, and to the 98% of Malaysian households we cater to.”
“This includes repositioning our commerce business to leverage our strengths as an integrated media company. We will leverage all our media platforms and all the data we have available across our businesses to deliver a better experience for WOWSHOP’s 3 million customers. As the largest content producer, we will continue to invest heavily in content creation to keep up with the demand from global streaming providers for more localised content. Moving forward, our aim is to create more synergies across our businesses to truly unlock our value as Malaysia’s leading integrated media group,” he added.
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Media Prima at [email protected]; Izzat Alhadjri at [email protected] or +6019 218 0792 or Siti Sophia at [email protected] or +6016 631 2874