MediaCorp announces operating profit of $25.7million for FY 201213

For immediate release 
Media Release 


MediaCorp announces operating profit of $25.7million for FY 2012/13

Singapore, 30 August 2013 – MediaCorp has announced an operating profit of $25.7m on total revenue of $621.3m for the year ended 31 March 2013.  Both earnings and revenue were weaker than the previous year on account of a weak advertising market, as well as investments in capabilities and new product lines. Net profit before tax was $55.7m, which includes a gain on disposal of investment of $28.6m.

Mr Shaun Seow, CEO MediaCorp says, “The global economic softening in 2012 hit MediaCorp’s business as marketers started cutting back on advertising spent.  We responded by offering our partners even more innovative marketing solutions that cut across the multiple media platforms and touch-points we own.  Despite the drop in advertising revenue, we continued to invest heavily in content production and digital assets as we are committed to the long term.  Toggle, our over-the-top TV service, is one such investment to enable us to stay relevant in the face of new media consumption patterns.”   

Other initiatives launched include (i) MEclub loyalty initiative to recognize and reward audiences with exclusive privileges; (ii) MeRadio.sg music portal that allows music downloads and unlimited streaming for listeners to create their own playlist; (iii) ME@OUE – a new unique gourmet dining experience under the stars, in partnership with OUE to increase touch points with audiences; (iv) styleXstyle.com – a fashion portal that gives users an engaging and customizable platform to connect, share and discuss fashion, style and beauty.  As part of its youth engagement efforts, MediaCorp took a majority stake in Cubinet Interactive, a Malaysian digital games publisher with a footprint in five Asian countries.

Looking ahead, Mr Seow adds, “Technology is shrinking the world which means media companies are no longer competing in specific markets but globally.  This presents both a threat, as well as opportunities to MediaCorp.  I am confident that the MediaCorp team will rise to the occasion and continue to engage, entertain and enrich our audiences by harnessing the power of creativity.”


Issued by Corporate Communications, MediaCorp Pte Ltd
 
For more information, please contact:
Clarence Pong
Head
Corporate Communications and Marketing
MediaCorp
DID: 6350-3343
Fax: 6251-5628
Email: clarencepong@mediacorp.com.sg

 
About MediaCorp
 
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.
 
Our financial and strategic relationship in the region includes International Media Corporation in Vietnam, which was set up to develop and produce television entertainment and economic news content. MediaCorp also has a stake in Singapore-based retail firm Reebonz, one of the region’s fastest growing luxury online retailers and a majority stake in Cubinet Interactive, a Malaysian digital games publisher.
 
Winner of numerous international awards and accolades including Asian Television Awards’ Terrestrial Broadcaster of the Year, MediaCorp’s mission is to engage, entertain and enrich audiences by harnessing the power of creativity. 

For more information, please visit mediacorp.sg.

 

For immediate release 
Media Release 


MediaCorp announces operating profit of $25.7million for FY 2012/13

Singapore, 30 August 2013 – MediaCorp has announced an operating profit of $25.7m on total revenue of $621.3m for the year ended 31 March 2013.  Both earnings and revenue were weaker than the previous year on account of a weak advertising market, as well as investments in capabilities and new product lines. Net profit before tax was $55.7m, which includes a gain on disposal of investment of $28.6m.

Mr Shaun Seow, CEO MediaCorp says, “The global economic softening in 2012 hit MediaCorp’s business as marketers started cutting back on advertising spent.  We responded by offering our partners even more innovative marketing solutions that cut across the multiple media platforms and touch-points we own.  Despite the drop in advertising revenue, we continued to invest heavily in content production and digital assets as we are committed to the long term.  Toggle, our over-the-top TV service, is one such investment to enable us to stay relevant in the face of new media consumption patterns.”   

Other initiatives launched include (i) MEclub loyalty initiative to recognize and reward audiences with exclusive privileges; (ii) MeRadio.sg music portal that allows music downloads and unlimited streaming for listeners to create their own playlist; (iii) ME@OUE – a new unique gourmet dining experience under the stars, in partnership with OUE to increase touch points with audiences; (iv) styleXstyle.com – a fashion portal that gives users an engaging and customizable platform to connect, share and discuss fashion, style and beauty.  As part of its youth engagement efforts, MediaCorp took a majority stake in Cubinet Interactive, a Malaysian digital games publisher with a footprint in five Asian countries.

Looking ahead, Mr Seow adds, “Technology is shrinking the world which means media companies are no longer competing in specific markets but globally.  This presents both a threat, as well as opportunities to MediaCorp.  I am confident that the MediaCorp team will rise to the occasion and continue to engage, entertain and enrich our audiences by harnessing the power of creativity.”


Issued by Corporate Communications, MediaCorp Pte Ltd
 
For more information, please contact:
Clarence Pong
Head
Corporate Communications and Marketing
MediaCorp
DID: 6350-3343
Fax: 6251-5628
Email: clarencepong@mediacorp.com.sg

 
About MediaCorp
 
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.
 
Our financial and strategic relationship in the region includes International Media Corporation in Vietnam, which was set up to develop and produce television entertainment and economic news content. MediaCorp also has a stake in Singapore-based retail firm Reebonz, one of the region’s fastest growing luxury online retailers and a majority stake in Cubinet Interactive, a Malaysian digital games publisher.
 
Winner of numerous international awards and accolades including Asian Television Awards’ Terrestrial Broadcaster of the Year, MediaCorp’s mission is to engage, entertain and enrich audiences by harnessing the power of creativity. 

For more information, please visit mediacorp.sg.