KUALA LUMPUR, 25 November 2021 – Media Prima Berhad (“Media Prima” or the “Group”) today posted a profit after tax (“PAT”) of RM23.4 million for the nine months ended 30 September 2021 (“9MFY21”), reversing a loss after tax (“LAT”) of RM36.2 million in the comparative period (“9MFY20”). Group revenue increased by 8% to RM804.3 million in 9MFY21 against RM743.5 million in 9MFY20, backed by stronger advertising revenue, supported by the Group’s sales arm, Media Prima Omnia.
Media Prima’s broadcasting segment posted a higher PAT of RM41.0 million in 9MFY21 from RM17.1 million in 9MFY20. This is on the back of RM326.0 million in 9MFY21 revenue, a 32% increase against the comparative period. Revenue from content sales increased to RM29.1 million in 9MFY21 from RM8.7 million in 9MFY20, following the Group’s successful collaborations with popular streaming platforms.
Revenue from the Group’s digital arm, REV Media Group (“REV Media”) grew by 10% to RM66.6 million in 9MFY21 against the corresponding period, on the back of a 11% increase in advertising revenue in the nine months under review.
The Group’s publishing business, represented by The New Straits Times Press (“NSTP”), posted a profit of RM532,000 in 9MFY21 from a loss of RM26.9 million in 9MFY20. NSTP’s revenue decreased slightly by 8% in 9MFY21 mainly due to lower newspaper sales. This was offset by a 49% revenue growth to RM14.4 million in 9MFY21 from its newspaper printing and distribution unit against 9MFY20.
In commerce, WOWSHOP’s 9MFY21 revenue remained steady, decreasing slightly to RM217.0 million against RM230.9 million in the corresponding period. Moving forward, WOWSHOP is working closely with Omnia to provide clients with packages which would encompass a combination of commercial air-time and commerce space.
Media Prima also announced results for the three months ended 30 September 2021 (“3QFY21”), recording its fifth consecutive quarterly profit since 3QFY20. The Group posted a PAT of RM6.6 million in 3QFY21 from a PAT of RM11.8 million in the comparative period. Group revenue decreased by 4% to RM257.3 million in 3QFY21 against RM268.8 million in 3QFY20. Nonetheless, the Group held its position in the current quarter despite certain restrictions still in place to contain the Covid-19 pandemic.
Group content sales more than doubled to RM8.3 million in 3QFY21 against the corresponding period, driven by Media Prima’s content distribution strategy with popular streaming platforms. Advertising revenue for 3QFY21 dipped marginally by less than 1% against 3QFY20.
Datuk Seri (Dr) Syed Hussian Aljunid, Group Chairman of Media Prima, said: “We’ve come a long way to post our fifth consecutive profit since 3QFY20, driven by steady growth in advertising revenue. The trajectory of our advertising revenue gives us confidence that we made the right decision with Omnia which will integrate the Group’s platforms and popular brands as part of its media solutions for advertisers.
“We remain confident with our performance in view of the rebound in advertising spending. With the gradual recovery of the Covid-19 situation in Malaysia and as the entire country moves into Phase Four of the National Recovery Plan, this gives us the potential to do more for our clients and audiences. Moving forward, we still have more to do to keep this momentum going. We will continue to push harder while keeping a close watch on operational efficiencies.”
Rafiq Razali, Group Managing Director of Media Prima, said: “We ended the third quarter with another set of strong results against a landscape of unprecedented market pressures. Revenue from advertising, newspaper print and distribution and content sales has continued to grow while commerce revenue is steady amid increasing global competition.
“We are also pleased to see encouraging signs of recovery across our businesses such as NSTP which posted its second consecutive quarterly profit. We are the leading media group in terms of mobile audience and third largest in terms of total digital audience reach. TV3 remains Malaysia’s leading television channel and among YouTube’s top 10 in terms of subscribers and video views in Malaysia. In content distribution, our shows are among the most watched on streaming platforms in Malaysia. Barring unforeseen circumstances, we are bullish that we will reap the benefits of the initiatives we have executed at a larger scale next year.”
On the humanitarian front, Media Prima continues to leverage its multiple platforms and mass reach to support Malaysians through various community initiatives. This includes recent initiatives from WOWSHOP and Media Prima Audio to raise funds for the Media Prima-NSTP Humanitarian Fund Bantuan Kemanusiaan Covid-19 campaign to assist government hospitals.
Media Prima Audio reached out to needy individuals affected by the pandemic with financial support, as well as front liners with appreciation gifts. NSTP’s Harian Metro collaborated with Hijrah to help B40 groups in the Klang Valley facing socio-economic problems through the donation of ‘Kotak Rezeki Harian Metro’ boxes. To assist small medium enterprises in bouncing back from the impact of the Covid-19 pandemic, Omnia launched the OmniaUSB platform to serve as a one-stop centre to empower businesses with business solutions and development courses. Media Prima remains committed to the social-economic well-being of Malaysia as part of its mission to be a responsible corporate citizen.
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For further information, kindly contact:
Media Prima Berhad at [email protected]; Sharifah Nur Adibah Syed Tahir at [email protected] or +6019 220 2291; Zasman Asna at [email protected] or +6019 471 7531; Siti Sophia at [email protected] or +6016 631 2874