For immediate release
Singapore, 1 September 2014 – MediaCorp announced profit before tax of $11.6 million against revenue of $658.3 million for the financial year ended 31 March 2014. Revenue grew despite a weak advertising market, shored up by non-advertising revenue sources including content production. Profit declined as the company continued investing in creating content and capabilities for sustainable growth in a rapidly changing media landscape.
“FY13/14 was an investment year for us as we built up Toggle to complement our Free-to-Air broadcast. We know more and more people want to view content across multiple devices at their own time, so we dedicated substantial resources to creating an experience that suits the modern lifestyle,” said Shaun Seow, Chief Executive Officer, MediaCorp. “Our ability to deliver shareholder value in future years will depend on our continued efforts in responding to the needs of our audience, integrating our product portfolio and offering businesses new ways of engaging their customers."
Notable highlights for the year included starting digital broadcast of all MediaCorp TV channels using the DVB-T2 format; and the launch of 8days Eat, a mobile app for discerning foodies and Mediapreneur, a mentorship and test bed programme for digital start-ups. With an eye on the vast potential of e-commerce and the synergies with media, the company made an investment in Reebonz, one of the region’s fastest growing luxury online retailers. MediaCorp was named “Terrestrial Broadcaster of the Year” at the Asia Television Awards (ATA) 2013, winning this prestigious award for the 10th time in ATA’s 18-year history.
“Over the last two years, MediaCorp has been undergoing a transformation to become more relevant to audiences who are more diverse than ever in terms of interests and identity. We have made significant investments in new product lines, content as well as our production capabilities,” said Mr Seow. “This is beginning to pay dividends as we increasingly attract new audiences who access media in different ways. We know there’s room for improvement and we’re constantly striving to do better.”
Issued by Brand and Communications, MediaCorp Pte Ltd
For more information, please contact:
Brand and Communications
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 .