RS Group enjoys 45% profit surge

Media and entertainment firm RS Group has reported a net profit of 3.77 billion baht for 2020, an increase of 45% or 528 million baht over the previous year.

“2020 was a challenging year for RS Group because of several changes and the pandemic,” said Wittawat Wetchabutsakorn, chief financial officer of RS Group.

“The commerce sector posted record income of 2.38 billion baht, which was 18% higher than the previous year, thanks to the successful expansion of offline and online sales platforms, various advertising channels, unique product presentation at different times, and continuous improvement of telesales skills. All these efforts expanded the customer base to 1.6 million by the end of 2020, and the trend is rising.”

The company focused on cost management, creating content while improving the ratings for Channel 8. The hourly rating for age groups 15+ and 18+ in 2020 was 0.45% compared with 0.42% in the previous year, although some shows were rerun during the pandemic to save costs.

RS Group also achieved 100% efficiency on advertising minutes by advertising and selling the commerce business’s own products. This contributed to the growth in the commerce business in every quarter of 2020.

“We operate a unique ‘entertainmerce’ model, building up strength by investing in other companies to broaden the ecosystem,” Mr Wittawat said.

“The commerce business continues to expand the ad and sales channels to reach all target groups, promote the growth of online platforms, and launch new products to the mass market, maintaining its advantages in sales platforms and products.”