Letter from the Chairman and Group CEO
Throughout the year even though the Company encountered many challenges, GMM Grammy has progressively operated its business with stability by strategically planning to deliver outstanding contents for international market along with strengthening music business as the flagship of GMM Grammy Group. The Company remains its leadership position in music business and continues to create a phenomenon to Thai music as always, especially in social media with widespread viewers and comments all over leading to several 100 million view records across music genres, while GMM Grammy Official on YouTube celebrated the success in Diamond Play Button Award with more than 10 million subscribers.
In 2017, the company took pride in anchoring investor confidence through strategic investment in Digital TV ONE31 and GMM25, which strengthen the channel potential and competitiveness based on high quality contents to reaching out mass consumer targets on every platforms. As for home shopping business growth remains positive despite overall market downturn, while the films premiered from GDH created the greatest phenomenon for “Bad Genius” won awards in several international film festivals and generated all-time high international box office revenue for Thai film in foreign countries.
The operating result of the past year showed significant improvement, following the completion of investment restructuring leading to positive business development, with growing revenue and profitability, while next-year prospects are trending upward from expected rising media advertising spending in line with economic recovery. The Company will step forward on its core strategy execution by effectively managing the assets to create new growth opportunities and reinforcing business strength through fostering human resource competency, as well as committing to good corporate governance and sustainable development. It has been a great pleasure that Thai Institute of Directors (IOD) awarded the company the ‘Five Stars’ rating which represents the ‘highest rank of excellence’ from good governance assessment of the listed company in 2017 which continued for seventh consecutive years so far. GMM Grammy will adhere to its business philosophy to remain the leadership in media and entertainment business with sustainable returns to all shareholders.
On behalf of the Board of Directors, we would like to express our gratitude to our stakeholders including shareholders, customers, business partners, financial institutions, government agencies, media agencies, artists, executives and all employees for all support and great contribution to drive for the Company’s excellence in creative produce, service and administration in order to deliver a profitable return to shareholders over the long term, as well as moving forward a healthy development in media and entertainment industry for the nation and society.