For immediate release
MediaCorp announces operating profit of $44.4 million for FY 2011/12
Singapore, 26 September 2012 – MediaCorp has announced a 7.5 per cent rise in operating profit to $44.4 million for the year ended 31 March 2012. This was achieved on a 6.7 per cent increase in total revenue to $629.4 million, buoyed by strong advertising revenue growth. Net profit before tax was $187.6 million, which includes a gain on disposal of investments and property of $125.5 million.
Mr. Shaun Seow, CEO of MediaCorp says, “The strong performance is possible only because of a great team who’s committed to producing and delivering good content to audiences anywhere, anytime and on any device. Over the last year, we have been strengthening our production capability through training, for example in acting, script-writing, filming and journalism. We will continue to do so as we know good, relevant content is ultimately what distinguishes us from the pack and what audiences expect from us.”
Industry recognition for its quality content and innovative marketing came via over 50 international and regional awards won during the year, including the Asian Television “Terrestrial Broadcaster of the Year” Award.
Other highlights of the year include a second international channel (8i), the launch of a $5m Content Innovation Fund open to anyone here and abroad with good concepts, the first television co-production with a Japanese broadcaster, a ground-breaking ceremony for its new broadcast centre at Mediapolis, record TV viewership for the 2011 General Elections and Presidential Elections, and a first interactive drama on xinmsn.com. MediaCorp was also the host broadcaster for the 20th Public Broadcasters International Conference held in Singapore for the very first time.
Looking ahead, Mr. Seow expects a challenging economic environment because of the Eurozone crisis and a softening American economy. Added Mr. Seow, “We’re seeing advertisers pulling back on advertising spending in view of the uncertainties. But MediaCorp wants to work with partners to forge win-win solutions and weather the storm together."
Issued by Corporate Communications, MediaCorp
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Corporate Communications & Marketing
MediaCorp is Singapore’s leading media company with the most complete range of platforms, spanning television, radio, newspapers, magazines, movies, digital and out-of-home media.
It pioneered the development of Singapore’s broadcasting industry, with the broadcast of Radio in 1936 and Television in 1963. Today, MediaCorp has over 50 products and brands in four languages (English, Mandarin, Malay and Tamil), reaching out to all adults in Singapore every week.
Initiatives in the new digital space include Internet TV-on-demand, High Definition TV broadcast and Over-the-Top (OTT) interactive services.
Beyond Singapore, MediaCorp is an active regional player through co-productions in TV dramas and movies, magazines publishing, as well as Channel NewsAsia International, one of the first Asian-owned English news channels.
Winner of numerous international awards and accolades including Asian Television Awards’ Terrestrial Broadcaster of the Year, MediaCorp’s vision is to become Asia’s top media company, delivering valued content to the world.
For more information, please visit www.mediacorp.sg.