Coolism earmarks B70m to build up online radio
Coolism Co, the radio station subsidiary of SET-listed RS Plc, has set aside 70 million baht to focus more on internet radio, aiming to increase its online revenue contribution to 15% of the total this year.
The company is shifting focus on its internet radio presence as the number of online listeners has risen to represent 70% of its 5.15 million monthly total, according to the latest survey by Nielsen Thailand.
Managing director Prinn Muensuksaeng said online radio stations have became more powerful and effective platforms for brands and advertisers to target the right customers easily and cost-effectively.
“I’m confident that radio is not dying and more listeners in the era of Thailand 4.0 will keep listening to it on online platforms,” he said.
Advertising spending on radio this year is projected to grow 1-2% from 6 billion baht last year as radio is a medium accessible to everyone.
Mr Prinn said that audiences still tune in to the radio, although many have switched over to listening to music on online platforms.
“This figure proves that radio is not dying and Thai people still listen to it, albeit via alternative channels,” he said.
This year, online radio is expected to grow 20% as it has a unique character and listeners can connect emotionally with DJs, according to a survey by Coolism Co.
Of its 70-million-baht budget, 60 million will be used to develop a Radio Online Measurement system t o gauge realtime ratings on its online radio platform, which is expected to help attract brands and ad agencies to buy ad time.
Mr Prinn said its station, Cool Fahrenheit 93, is expected to boost its online revenue to 15% of the total this year, up from 6% last year.
The company expects to generate 515 million baht in total revenue this year, up from 500 million last year.
Last year, RS posted a net loss of 102 million baht on revenue totalling 3.24 billion, compared with a net profit of 121 million and total revenue of 3.77 billion in 2015.
RS shares closed yesterday on the Stock Exchange of Thailand at 9 baht, down five satang, in trade worth 10.4 million baht.