- Group posted PAT of RM11.8 million in 3QFY20 from a LAT of RM25.6 million in the comparative quarter; revenue increased marginally by 1%
- 9MFY20 LAT narrowed by 54%
- REV Media Group recorded 14% revenue increase in 9MFY20 against the corresponding period after consolidation of Group digital assets
- WOWSHOP posted net profit of RM9.5 million in 9MFY20 on the back of 36% revenue increase against the corresponding period
KUALA LUMPUR, 18 November 2020 – Media Prima Berhad (“Media Prima” or the “Group”) posted a profit after tax (“PAT”) of RM11.8million for the three months (“3QFY20”), reversing a loss after tax (“LAT”) of RM25.6 million in the comparative quarter (“3QFY19”). Revenue increased by 1% to RM268.8 million in 3QFY20 from RM265.5 million in 3QFY19, despite challenging economic landscape linked to the global pandemic.
In the nine months of FY2020 (“9MFY20”), Group revenue was protected, declining only by 7% to RM743.5 million against RM801.4 million a year ago (“9MFY19”). LAT narrowed by 54% to RM36.2 million in 9MFY20 from a loss of RM79.2 million in the comparative period.
Media Prima’s on-going business transformation initiatives involve revising revenue models, reducing cost inefficiencies, and consolidation of assets to solidify the focus of each platform. The Group’s digital and commerce brands have been consolidated under REV Media Group and WOWSHOP respectively, in order to achieve synergies and solidify its market position.
In the nine months under review, REV Media Group recorded a 14% revenue increase to RM60.6 million against RM53.2 million in revenue in the corresponding period. REV Media Group continued to invest more in esports through Squad Up, a PUBG mobile tournament hosted in partnership with YouTube Malaysia, and sponsored by McDonald’s and Samsung. Squad Up featured over 250 teams and reached more than 600,000 views on TV3’s official YouTube channel.
The Group’s home shopping segment recently revealed a new brand identity — WOWSHOP Sdn Bhd (“WOWSHOP”) — following the full acquisition of the business. WOWSHOP posted a 9MFY20 net profit of RM9.5 million and a 36% increase in revenue against the previous year. To date, WOWSHOP has over 2.3 million customers while its e-commerce and mobile commerce platforms contributed over 53% of its total sales in the nine months. WOWSHOP’s success is fuelled by Media Prima Television Networks which commands over 36% of total audience share, led by TV3 with a 24% Malaysian audience share.
Datuk Syed Hussian Aljunid, Group Chairman of Media Prima, said: “In the last few months, we have made strategic decisions to drive the next phase of Media Prima’s business transformation. Despite the ongoing challenges of the pandemic, we managed to build on the success of WOWSHOP’s popularity as seen in its performance this quarter. WOWSHOP’s strong performance validates our decision to fully acquire the business. It is also a reaffirmation of Media Prima’s importance to customers during this Covid-19 crisis not only for commerce needs, but also as a source for entertainment and essential news in navigating this new normal, as seen with our higher TV viewers and users across our digital brands. Nonetheless, we expect the economic effects of the pandemic to persist, and will continue to explore longer term solutions to solidify our market leadership position, while adapting our businesses and operations to the new normal.”
Dato’ Iskandar Mizal Mahmood, Group Managing Director of Media Prima, said: “The impact of the Covid-19 pandemic and consequently, movement control order, has affected our businesses in several ways, most notably in advertising revenue, production and availability of content. I am extremely proud of our team who have pulled together and stepped up with grit and creativity, to come up with safe and out-of-the-box ways of doing business during this difficult period. Because of them, we continue to inform, inspire, educate and entertain Malaysians throughout this pandemic without jeopardising quality content.”
“While these are extremely difficult times, they are a reminder of our responsibility to Malaysians as the leading and largest fully integrated media group. With our scale, we are able to make a big difference and positive impact in people’s lives. During times of crisis, Malaysians turn to Media Prima — readers and viewers want a trustworthy source for updates and answers on how to stay safe. In addition to reporting on stories that matter during this crisis, we launched the Bantuan Kemanusiaan Covid-19 fundraising campaign in March to purchase needed medical equipment for Government hospitals across the country. To uplift our viewers while dealing with the pandemic, we participated in the Super Stream Malaysia to showcase our popular dramas and comedies for a limited time on YouTube. Our success and sustainability are important and we will continue to deliver relevant and quality content while improving our operational efficiencies. We will not take our feet off the pedal in our pursuit of delivering value to all our stakeholders.”
END OF PRESS RELEASE
For further information, kindly contact:
Media Prima Berhad at +603 1300 300 672 (ext. 8957), [email protected] or +603 2724 8957
Zasman Asna at [email protected] or +6019 471 7531.