As announced by the Company on 25 August 2022, the financial year end of the Group has been changed from 31 December to 30 June.
KUALA LUMPUR, 24 May 2023 — Media Prima Berhad (“Media Prima” or the “Group”), Malaysia’s leading and largest integrated media group, today announced its financial results for the quarter and 15 months period ended 31 March 2023.
The Group reported a revenue of RM1.2 billion and a profit after tax (“PAT”) of RM59.3 million for the 15 months under review on the back of a challenging business environment and softer advertising market conditions. Media Prima’s revenue and PAT for the quarter ended 31 March 2023 is RM210.8 million and RM5.4 million respectively.
Commenting on the results, Datuk Seri (Dr) Syed Hussian Aljunid, Group Chairman of Media Prima, said: “Media Prima’s performance for the period under review has been impacted by challenging global economic conditions which affected our advertising and commerce segments. Nonetheless, this was cushioned by non-advertising income and continuous cost optimisation initiatives, and other operating income. We are confident of our ability to weather these uncertainties given the strategies we have in place to manage our costs prudently and respond to changing business conditions while focusing on growth in non-advertising revenue related business like content sales and home shopping.”
Rafiq Razali, Group Managing Director of Media Prima, added: “The Group expects the upcoming months in 2023 to remain challenging as intense competition for audience share across conventional and digital media landscape will have an impact on advertising expenditures, which is already being affected by inflationary pressures, increased interest rates and other economic uncertainties. We will continue to defend our leadership positions by providing compelling content for audiences across our media platforms, concurrent with offering premium advertising inventory for advertisers. The Group also sees opportunities in further monetising its large content library and dedicated audience base through its video streaming service, Tonton, which had undergone a strategic reboot aimed to capitalise on the strong demand for local content among consumers.”
The Group continued to defend its leading positions across its businesses. Media Prima’s digital reach, led by brands under REV Media Group and The New Straits Times Press, remained one of the most read online news portals on mobile in Malaysia. Media Prima’s out-of-home (“OOH”) advertising business, Big Tree, has expanded its digital OOH inventory in strategic locations with two new digital screens in Sunway and at KL-Seremban Expressway.
In broadcasting, Media Prima Television Networks remained the most watched television networks, led by TV3 which captured over 26% of Malaysia’s television audience in the three months under review, an increase from 20% recorded in the comparative period last year. 8TV reached 54% of the Chinese 4+ audience segment, an increase from 37% in the comparative period. TV9’s total audience reach also increased to over 4% from 2% in the comparative quarter last year. According to GfK Radio Audience Measurement Wave 1 2023, Media Prima Audio’s Hot FM and Fly FM improved in their rankings among radio listeners.
Looking ahead, Media Prima is committed to advancing its strategic 3-year business plan, which revolves around three key pillars: enhancing content, elevating inventory quality, and exploring new revenue opportunities. The Group intends to harness its technological expertise, valuable data insights, and talented workforce to gain a competitive advantage, attract prestigious clients and projects, and foster income diversification.