GMM Grammy - High Growth from New Businesses Ready for Total Broadcasting Business and Becoming a Platform Operator
Ms. Boosaba Daorueng, Group CEO, GMM Grammy Public Company Limited informed that operating revenues in Q3-13 amounted to THB 2,632 million, of which THB 670 million was from music business, THB 851 million was from media business, THB 174 million was from home shopping business, and THB 419 million was from Satellite TV business. Furthermore, revenue from satellite TV and home shopping businesses posted a strong growth of 35% from the same period last year. In particular, revenue from home shopping business was 10 times higher than last year. Nevertheless, GMM Grammy continued to expand the GMM Z satellite TV platform. Since the inception of satellite platform business, a total of 2.1 million satellite set-top-boxes were sold. In this quarter, GMM Grammy generated a net loss of THB 286 million, as expected, due to the investment in new businesses, which will provide the sustainable growth for the company in the future.
Towards the end of October, GMM Grammy submitted two applications for DTT licenses, Variety HD and Variety SD, with NBTC. Ms. Boosaba said "We are confident in the DTT auction due to our content production expertise, which has been accumulated for more than 30 years. Our contents have been ranked #1 from viewers in all genres. Recently, we created top hits content among viewers, for example Kor jai ter lak ber tor - Ying Lee, Hormones the Series, and Pee Mak Phra Kha Nong, etc. Moreover, we plan to develop our content from both in-house generated and show format purchased from international provider. We have also well prepared financially, as seen from THB 3,190 million cash on hand and interest-bearing debt to equity ratio of 0.74x at the end of Q3-13."
Ms. Boosaba said "For the final quarter of 2013, GMM Grammy plans to organize several big concerts and music events, for example Big Mountain 5, and "Luead Khattiya the musical". For music business, GMM Grammy started offering music streaming service in cooperation with AIS (Advanced Info Service - Mobile Phone Operator) through KK Box application and expected it to drive Digital Content business growth in the near future. For Pay TV business, the new pay TV packages, including new channels (entertainments and sports) from FOX International, for example FOX Action Movies, FOX Action Movies, FOX Movie Premium HD, Stargold, FOX Thai, FOX HD, FOX Crime, FOX News, FOX Sports, and Star Sports, were launched in this quarter. We believe that we'll get the positive feedback from pay TV business."