Mono Next revealed as firm’s new name

SET-listed Mono Technology, a media and content provider, says it will change its name to Mono Next with a new business strategy that highlights movies and series content through its streaming service.

Chief executive Patompong Sirachairat said the name change sailed through the company’s board meeting last week and will be forwarded to the shareholders’ meeting on Aug 10 for approval.

The name change reflects the firm’s expertise in the entertainment business, covering movies and series from domestic and foreign productions.

The strategy is to “understand local taste”, focusing on what Thais want in terms of media consumption.

According to the firm, its subscription video-on-demand service, MonoMax, has shown strong growth in subscriptions and 1 million subscriptions are expected within three years.

Movies and series that meet Thais’ tastes will be selected for the service, with Mono also producing local content targeting household viewers, Mr Patompong said.

He said digital TV Mono 29, which sits third in the ratings nationwide, expects rising revenue in the second half with increasing media spending as the lockdown has eases further.

In September of last year, Mono announced a partnership with KT Corporation of South Korea to launch an IPTV (internet protocol TV) business to cater to 3.3 million broadband internet customers of Triple T Broadband (3BB).

The project is called 3BB TV and covers more 30 channels, including HBO.

The service will be launched this October, Mr Patompong said.

“The cooperation on 3BB TV will be a major step for Mono Next,” he said.

The new strategy relies on strong content, media and telecom segments through the partnership.

“Mono gains a complete range within these elements,” Mr Patompong said.

Mono went through an organisational restructuring recently, including focusing on revenue-making business and ending other segments.

The company relocated to the Mono 29 studio on Chaiyaphruk Road on June 29.