Grammy expects B9bn in revenue this year


From www.bangkokpost.com/business/economics/2...in-revenue-this-year
Grammy Entertainment, the country's leading media company, hopes to rein in 700 million baht in profits and 9 billion in revenue this year and will invest 1 billion baht in satellite television, says Primon Pinsakun, chief financial officer.

Its satellite TV programming is set for broadcast on Nov 1.

He said the company's core business will grow in line with an expanding local economy. Grammy plans to launch new music albums in the first half next year. It has a film called Top Secret due out on Oct 20, and ad sales are also growing steadily.

However, it expects profit and revenue in the third quarter will decrease compared to the second quarter in line with the business cycle. In the second quarter it had 253 million baht in profits and 2.5 billion in revenue. In that period it released Laddaland, a box-office hit that earned 117 million baht.

For the satellite business, signal receptor boxes will be sold at 1,200-1,500 baht a box. The company expects to sell 500,000 boxes this year and charge monthly membership fees of 300 baht. Factoring in ad sales, Grammy speculates it will take a year to break even.

Grammy shares closed at 18.90 baht, down 10 satang, in light trade with 191,000 baht.