For immediate release
MediaCorp announces strong earnings growth for FY 2010/11
Singapore, 2 September 2011 – MediaCorp has announced strong earnings growth for the year ended 31 March 2011, with operating profit up 32 per cent to $41.2 million. This came on the back of an 11 per cent growth in total revenue to $589.9 million and record TV viewership averaging 2.7 million viewers daily (aged 4 years and above).
Mr Shaun Seow, MediaCorp CEO, said, “This good performance was possible only with the dedication and hard work of all MediaCorp staff -- everyone from producers to sales executives to administrators. I want to put on record my thanks to the 2,600 employees who have given nothing short of their best to the company.”
Added Mr Seow, “Looking ahead, we want to continue growing our audiences across all our media platforms, and create even greater value for our stakeholders. We will continue to invest in human capital, leverage on technology and diversify our revenue sources. As Singapore's largest content producer, we are also making our mark through content distribution and co-productions with overseas partners. The success of our award-winning television drama, The Little Nyonya has opened doors for more collaboration and our dramas to be sold in China and the region.”
Mr Teo Ming Kian, MediaCorp Chairman, said, “There will be more challenges ahead. Apart from the global economic uncertainty, the media industry is characterized by rapid technological advances and changing business models. The good earnings this year will strengthen our financial resources to enable us to strategically create opportunities out of these challenges. We are determined to keep pace with the changes and invest in capability building to better serve our viewers, customers and stakeholders.”
The strong earnings performance cap a year which saw many product innovation and achievements, notably, the announcement to launch a new interactive TV service which enables viewing across multiple devices in this fiscal year. The service is free except for premium content and will offer content from MediaCorp’s TV, radio, print and online offerings as well as third party.
1 excludes gains on investment and disposal, and impairment loss in associates
Issued by Corporate Communications, MediaCorp Pte Ltd.
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Corporate Communications and 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.
Our industry firsts include the Digital Video Broadcast technology for outdoor digital television, and Asia’s first Digital Audio Broadcast radio service. Initiatives in the digital space include Internet TV-on-demand and High Definition TV broadcast.
MediaCorp is an active regional player through co-productions in TV dramas and movies, magazine publishing, as well as Channel NewsAsia International, one of the first Asian-owned English news channels.
Our financial and strategic relationships in the region since 2007 include a venture with Indonesia's most integrated media company PT Media Nusantara Citra and its parent, Global Mediacom, and International Media Corporation in Vietnam, set up to develop and produce television entertainment and economic news content.
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.