Investor Relations

Outstanding Investor Relations Awards 2017 & 2020

SET Symbol RS
Last Done 12.90 THB
Change -0.40
% Change -3.01%
Volume 1,168,883
Day's Range 12.90 - 13.30
52 Weeks' Range 12.70 - 15.50
Updated 28 Mar 2024 16:36

Company’s Business

Policy and Business Overview

RS Public Company Limited (“RS” or “Company”) was founded in 1976, starting from an integrated music business before being converted into a public company and listed on the Stock Exchange of Thailand in 2003 with a registered capital of 560 million baht. The Company subsequently changed its name to “RS Public Company Limited”. As of 31 December 2022, the Company’s issued and paid-up capital was 972,496,946 shares, with a par value of 1 baht per share.

The Company has expanded continuously under “Entertainmerce” business model with following core businesses.

1.) Entertainment Businesss

Through our expertise in media and entertainment business of over 40 years, entertainment business is considered the strong foundation of our entertainmerce business. The Company engages in providing TV media services through Channel 8 TV station and radio media through Cool Fahrehheit 93 FM including organizing activities for on-ground and online media to offer a full range of marketing tools for brands.

2.) Commerce Business

Aspiring to be “Wellbeing Partner” for Thai people, the Company focuses on product and service innovation to promote consumer health and beauty and deliver to customers through diversified channels. In-house brands developed by RS Livewell include well u, Vitanature+, CAMU C and Lifemate. Besides, we teamed up with manufacturing and import partners to enhance the variety of our offering to consumers to be delivered through our own channels such as telesale, radio, TV, website and channels of our partners such as convenience stores, traditional trade and others. Moreover, the Company has developed a system to gather and analyze customer data to be able to introduce products that better meet customer needs while after-sales systems are developed to promote efficiency and enhance customer satisfaction to achieve repeated purchases.

3.) Music & Other Businesses

As integrated music business is the original business of RS with over 40 years of history, the Company owns a wide range of intellectual properties related to diverse kinds of music such as music work rights (lyrics & melodies) and master sound recording copyrights of over 15,000 rights, most of which are popular and reach diverse groups of audiences. Moerover, RS specializes in music business to be able to continuously create new famous music and build on different channels to generate more revenue such as streaming platforms, revenue from copyrights and additional revenue streams from intellectual properties. Currently, RS creates music from 3 record labels namely, RoseSound, Kamikaze and Rsiam

In addition, RS has expanded into online content creation and development business as well as developing “Popcoin”, a smart marketing platform, through Fourth Apple Company Limited and investing in Chase Asia Company Limited operating in a NPL asset management and personal loan business.

Note that RS consistently looks to invest in new businesses to create a strong and growing business ecosystem to be able to serve customers in all dimensions.

Core Purpose

“Life Enriching”

Motto

“Passion to Win”

5-Year Business Direction

RS is an organization that conducts business with ‘opportunities’ and is always adaptive to change to create business opportunities by focusing on market leadership, continual investment in the business to sustain its commerce business and adopting Entertainmerce Model and expanding to other related businesses. The revenue contribution from new businesses is to increase significantly, strengthening the Company’s total revenue and net operating profit.

Key Changes and Developments in the Past 3 Years

The Company has evolved from being a leader in the media business to becoming a commerce business that provides diversified content to offer entertainment and attract and introduce products through different channels while enhancing efficiency through a customer data analytical system. The Company has continuously expanded our commerce business through the extension of distribution footprint and the variety of products. During 2022, the Company acquired ULife to enter into direct sales business to create synergy from various businesses of the Group. Plus, we established RS Pet All Company Limited as a one-stop service retail business to distribute products and services related to pets. The Company also lauched Popcoin- Smart Marketing Platform to leverage big data to connect consumers, brands and content creators together with the purpose to assist brands in elevating their marketing efforts to better reach target customers while customers gain higher satisfaction from receiving benefits that meet their needs through their participation in marketing activities using Popcoin as a utility token and a medium in the platform. The Company has built on its existing commerce business and entertainment business to create and grow its digital business (Details on key changes and developments in the past 3 years are shown in the section Key Developments from 2020-2022).

Overview of Business of the Company and Subsidiaries

At present, the Company engages in 3 main businesses, which are commerce business, media business and music and other businesses. The commerce business contributed to approximately 50% of total revenue, carrying out business activities under RS LiveWell Company Limited and RS Mall Company Limited that develop and distribute own products and those of partners through online channels, modern trade and other channels. Recently, RS also expanded its commerce business into direct sales business under RS Connect Company Limited. Regarding entertainment business, RS owns Channel 8, a TV media, operated under RS Multimedia Company Limited and radio media through the station COOL Fahrenheit 93FM under Coolism Company Limited. For music and other businesses, the Company operates in content and music development business to be distributed through multiple channels – generating copyrights revenue from the use of intellectual properties. Besides, RS also has other related businesses to support the ecosystem of the Company to be more complete such as content creation, event organizer and smart marketing platform operated under Fourth Apple Company Limited. (Details on investments in subsidiaries are shown in the section Shareholding Structure)

Nature of Business

Currently, the Company operates 3 core businesses consisting of commerce business, media business, and music & other businesses.

Revenue Structure

Revenue by Business

2020

2021

2022

Baht
(Million)

Proportion
(%)

Baht
(Million)

Proportion
(%)

Baht
(Million)

Proportion
(%)

Commerce Business

2,381.8 63

63

2,263.4

63

1,714.5

49

Entertainment Business

1,148.7

30

1,078.7

30

1,421.9

40

Music and Other Businesses

244.2

7

230.7

7

396.4

11

Total Revenues

3,774.7

100

3,572.8

100

3,532.8

100

Commerce Business

1) Product Characteristics

Commerce business is operated under RS LiveWell Company Limited (“LiveWell”, RS Mall Company Limited (“RS Mall”), RS Connect Company Limited (“RS Connect”) and RS Pet All Company Limited (“RS Pet All”).

(1) RS LiveWell Company Limited (“LiveWell”) (Previously Lifestar Company Limited) is a product R&D, designer and developer by outsourcing production to original equipment manufacturers (OEM) for health and beauty products especially innovative solutions that are based on “Innovative Health and Wellness” concept to apply science as the basis to conduct R&D of products to address healthcare needs of consumers through products that meet international standards. There are 4 main brands under LiveWell’s product portfolio as listed below:

  1. “well u”: dietary supplement and skin nourishment product for holistic health and beauty from applying science and innovation to the benefits of natural ingredients.
  2. “Vitanature+”: dietary supplement and haircare products made from herbal extracts with the perfect combination of local wisdom and innovation.
  3. “CAMU C” : a functional drink using innovation and natural properties to promote health and confidence of new generations through best-selected ingredients for sustainable health.
  4. “Lifemate” : health & wellness products for pets that promote overall health of pets under the concept “Holistic Wellness” for your life companions by adopting innovative technology.

For the product development of each type of product, LiveWell has collaborated with domestic and international research institutes and manufacturers with international standards to analyze database on customer needs gathered from various distribution channels including telesales. This helps the Company to understand trends, market demand and customer needs to be able to develop products customers want. For products under well u and Vitanature+ which are mostly dietary supplement, distribution is mainly through RS Mall and recently expanded to online channels and marketplaces such as Shopee and Lazada. For the functional drink CAMU C, main distribution channel is convenience stores to target health-conscious customers to be able to purchase the products easily every day at any time. Unlike CAMU-C, Lifemate products for pets rely more on traditional trade which are mostly retail pet shops of over 400 locations across Thailand.

(2) RS Mall Company Limited (“RS Mall”) is the main distribution channels of health products through both offline and online platforms. These platforms are to sell products and services that promote good health and wellbeing in a holistic way under the concept “Good Health & Wellbeing). Product quality and standards are guaranteed and certified by the Food and Drug Administration, ready to be “Wellbeing Partners” of every consumer to live a comfortable, happy and healthy life. The Company’s product offering ranges from health, beauty and fashion, electrical appliances, home appliances to animal food - from both LiveWell and partners who are product owners. The Company currently carries more than 600 items in its portfolio which can be categorized in to 4 groups namely, 1) Mental Health, 2) Physical Health, 4) Home and Pets Health and 4) Social and Travel Health.

During the past year, RS Mall has broadened the variety of its introductions of different products for different marketing channels consisting of

  1. TV distribution through RS’s owned TV media including Channel 8 and digital TV channels that are partners of the Company which can reach over 5 million viewers per day
  2. The Company's online media platforms, including www. rsmall.co.th and LINE SHOP through @RS Mall with over 828,000 accounts, as well as other leading online platforms such as Shopee and Lazada. Also, RS Mall has extended its online distribution channels by launching RS Mall application on smartphones to accommodate customers to be able to order products online more conveniently and faster. RS Mall shop was also launched on V-Avenue by AIS 5G to create and deliver virtual shopping experience for customers.
  3. Telesales and/or digital marketing are deployed to facilitate customers to order and purchase of products and services via phones. The Company reaches out to customers by phone to introduce its appealing products as suggested by the analysis from existing customer database. At the end of 2022, the customer base has grown to more than 1.8 million customers. RS also adopted Predictive Dialing System (PDS) to connect with the outbound call center to ensure maximized call results by reducing loss from no answer, busy lines or voicemails. The Company consistently improves PDS including the implementation of the Voice Analytics system to analyze phone conversations using artificial intelligence (AI) to better reach target customer groups and learn in-depth of their needs to be able to develop products and services that better address their requirements.

In addition, RS Mall values existing customers who are loyal to the brand and added a team of Customer Relationship Management (CRM) to take care of 7,000 VIP customers with the highest purchase values to be able to recommend different products and promotions selected exclusively for each VIP customer. This is to further promote customer satisfaction and maintain their loyalty to the RS Mall brand in the long run as well as generating higher revenue from this group of customers.

On product delivery, the Company outsources the activity to external parties. Customers in Bangkok and metropolitan areas will receive their products within the next day following the order confirmation of the products and services. Customers in other provinces will receive the product within 1 to 5 days. They can choose to pay cash on delivery or via credit card; however, more than 90 percent of customers choose to pay cash on delivery

(3) RS Connect Company Limited (“RS Connect”) operates commerce business through direct sales. During 2022, the Company acquired direct sales business of Unilever Life (ULife) from Unilever Thai Holdings Company Limited including popular brands such as Aviance, Beyonde and I-Fresh and the product development team with international product development expertise

Note that RS Connect Company Limted further expanded its direct sales business into 2 different models.

  1. ULife is a direct sales business under MLM (Multi Level Model) or network makerting that focuses on selling the products and extending sales network. The majority of products are health and consumer products targeting prestige and middle standard groups.
  2. De Beste is a direct sales business under SLM (Single Level Model) or one-layer direct sales that distributors will obtain products from the Company to directly sell to consumers (end users) emphasizing on online social commerce. The Company focuses on developing health and beauty products with affordable prices to target mainly younger generations.

(4) RS Pet All Company Limited (“RS Pet All”) was foudned in the 4th quarter of 2022 to operate pet business with the objective to expand into retail and service business related to pets to provide a full range of services for pets.

2) Market and Competition

In 2022, Thai economy was pressured by rising world’s oil price resulted from the disputes in Europe which led to higher transportation costs and surging inflation rates even though the government issued economic measures to counter the situation such as flood relief programs, “Kon La Krung” (subsidy) and “Shop Dee Mee Kuen” (tax deductions on shopping) that helped boost private demand. E-Commerce market continued to grow as consumers are used to ordering consumer goods online during the COVID-19 pandemic. These factors accounted for gradual recovery of commerce business and the growth is likely to resume as there are positive factors in the global economy that help stimulate Thai economy.

During 2022, LiveWell has structured products, sales team and marekting team for our 4 major brands to put an emphasis on product development and marketing for each brannd as well as expanding into online platforms to support the growth of e-commerce market. Moreover, we focus on content creation to sell different products and communicate directly with target consumers via multiple media of RS Mall and build trust on products through the product development that involves experts and specialists. Note that the Company launched new products in response to demand trends in the market in particular periods to grasp opportunties and generate revenue from market with not many players such as CAMU C and Plus with Hemp which received positive responses from consumers who care about their health and are willing to try the benefits of hemps.

Direct sales business is considered a popular sales channel of consumers as Thailand is ranked th 2nd largest direct sales market in Southeast Asia. Realizing the opportunity, the Company acquired direct sales unit “ULife” of Unilever (Thailand) Company Limited with a network of 150,000 members and ready infrastructure including distribution channels, brands and products, management systems and operating software as well as product development team. This was an accelerated move to enter into direct sales market. As Ulife is integrated under RS Group, competitive advantage and synergy are realized while initially ULife focused on the distribution of premium products. Under RS Group, market becomes broader and product range is more extensive to include products for daily lives. Furhermore, another sales format is developed called “SLM” or Single Level Model for the brand “De Beste”. The brand targets new generations who prefer sales through online channels and social commerce to build sales network. Online vendors are our sales agents to target middle-class customers (mass) and above. This further strengthens the ecosystem under entertainmerce model.

As for RS Pet All, our pet-related business, social structure is changing toward single family and the COVID-19 outbreak since 2019 caused people to find indoor activities while spending more time at home. Having pets became one of the preferred activities as pet humanization trend has gained traction which people treat pets as their family members. Therefore, buying food for pets requires extra care. RS expanded the pet food business through Lifemate brand as the Company spotted opportunities and growth potential for pet-related business which is expected to grow 8-9% per year for the next 4-5 years. The market is still considered as “Blue Ocean” with no apparent market leader. As a result, the Company established RS Pet All Company Limited with an aspiration to provide a full range of products and services for pets in the future.

3) Procurement of Products and Services

Product development units of both RS LiveWell and RS Connect work in collaboration with domestic and international research institutes to come up with formulas for key ingredients of each product. Once key ingredients or extracts are obtained, the Company will commission original equipment manufacturers (OEM) to manufacture finished products for the Company.

Entertainment Business

Operated under RS Multimedia Company Limited

Consisting of 2 main media: TV media and radio media

TV Media

1) Product Characteristics

RS Multimedia Company Limited operates the broadcasting of “Channel 8” TV Station under the slogan “Everyone is watching Channel 8, Press 27” to offer content that respond to requirements of the majority of viewers in Thailand. The concept is to be a free TV channel that is accessible to viewers of different genders and age groups with over 8 million audience base across Thailand focusing on 3 types of content which are dramas, sports and news. During the past year, the Company elevated all 3 main content types to enhance viewing experience with the following details.

  • Sports content: focusing on rigorous boxing events to attain No.1 rating such as “Muay Thai Super Champ”, “Muay Hardcore, Muay Pandu” as well as an international Thai boxing tournament “Thai Fight” that has elevated Thai boxing to the global level.
  • Drama content: producing quality dramas of different styles such as soap opera, fantasy, mystery and faith; for example, “Buang Bai Bun”, “Ran Dok Ngue”, “Leh Luntaya” and “Ruan Chada”. Channel 8 also brushed up old dramas to be rebroadcast with new cuts and special parts to add some appeal to the dramas which resulted in high level of overall rating.
  • News content: adjusting the format under the concept “Ruadrew, Jorluk, Krobklum” with news reporting that is fast, deep and extensive. News centers were established in different regions across Thailand and field reporters are stationed in all areas to truly reach the people and report news real-time with precision and speed, strengthening news team in front of cameras to be more effective.

In addition, the Company also imported popular content from foreign countries to broadcast locally to attract new groups of viewers to expand audience base to viewers who like Asian series content such as Korea, China and India. That is the reason why Channel 8 maintains its good rating and has long been a leading TV station for variety - standard definition category (Variety – SD) from the survey of AGB Nielsen Media Research (Thailand) throughout 2022.

Channel 8 formulated “Four-Legged Chair” strategy to diversify its sources of revenue instead of relying on sales from commercials as the only source of revenue. By executing this this strategy, Channel 8 can generate revenue from 4 main sources which are

  1. Revenue from commercial air time from customers who are product and service brands through proactive work to present creative ideas that assist them in addressing their marketing needs to meet their objectives.
  2. Revenue from commercial air time of RS Mall which is considered an internal customer using Channel 8 as a key tool in introducing products via talk shows and commercials to provide product details and in-depth product benefits to customers.
  3. Revenue from content rights from existing inventories and new content which have high tendency to grow, consistent with the behavior of consumers at present who view programs through Over-the-top (OTT) platforms such as AIS PLAY, TRUE ID, VIU and WeTV as well as sales of rights to foreign countries including ASEAN countries and China.
  4. Revenue from organizing events to build on different types of published content that generate income from brands who need to engage consumers across the country. As the COVID-19 pandemic subsided during the past year and activities resumed to normal, this source of revenue experienced high growth.

2) Market and Competition

Advertising media industry has been contracting continuously in the past 3 years as the economic conditions were adversely affected by the COVID-19 situation which in turn impacted marketing budgets of brands. However, signs of recovery became clear toward the end of 2022 as COVID-19 control measures were relaxed. As a result, value of overall advertising media industry in Thailand in 2022 rose significantly at a rate of 9.1% from the previous year to stand at 118,678 million baht.

TV media remained the media with highest share of advertising budget at around 53.8% of total advertising budget. Advertising spend on TV media had a total value of 62,664 million baht, declining 1.6% from the previous year. On the other hand, online advertising has experienced constant growth and higher share at a rate of 7.5% from last year. The competition in TV industry has been intense as players have to compete for rather fixed amount of money. The lower number of digital TV channels was a result of the license returns which drove the number down from 24 channels to 18 channels in 2019 while advertising money was concentrated on only leading channels.

Due to the intense competition in overall TV industry, digital TV operators adjusted themselves to generate additional revenue through the expansion of channels to bring content to diverse platforms, responding to change in consumer behavior toward content viewing from smartphones, tablets or computers. Many players added viewing options through social media channels such as Facebook and YouTube as well as selling content on Over-the-Top TV (OTT TV) which is considered revenue generation from online audience including audience base from foreign markets.

With longstanding experience in media and entertainment business, the Company possesses capabilities and potential in creating content that is right for target customers and attains high rating. Channel 8 set out clear marketing strategies to produce content catering to audience aged over 35 years who are the main group of customers who view content via TV channels with a broad base across Thailand. This group also has high purchasing power that the Company can leverage to build commerce business to introduce products and services that suit their needs.

Lastly, Channel 8 has seen opportunities in selling rights in foreign markets as well as OTT video streaming market which have been growing constantly, consistent with changing lifestyles of consumers in digital age. Therefore, the Company took steps forward to expanding the customer base through partnerships with leading companies such as AIS Play, True ID, Pops, Viu, iQiyi and WeTV to create new content to be aired on video streaming channels while OTT customers will bring content to be shared.

3) Procurement of Products and Services

The Company has a strong base of actors, artists and employees are experts in content creation and production while content broadcast on Channel 8 is from both in-house production and oursource from leading domestic and international companies. This helps enhance the variety of offered content to meet the needs of broader audience.

Radio Business

1) Product Characteristics

COOLISM engages in a radio media business through the radio frequency system of F.M. 93.0 MHz under the brand “COOLfahrenheit”, an online channel at www.COOLISM.net, and a mobile platform via COOLISM application. Revenue generating strategies are based on diversification of sources of revenue under “Three Rivers” model or revenue from 3 main sources per following:

1st River COOLfahrenheit (music station business) generating revenue from advertising.

2nd River 2 COOLive (concert and event business) generating revenue from ticket sales and sponsorships from brands who support events.

3rd River COOLanything (commerce business) generating revenue from merchandise sales that turns listeners to buyers by introducing products and services through COOLISM application under the concept “Listen to Music and Shop for Fun in One App)

Radio Station

COOLfahrenheit

Concessioner

Navy Radio Station

Airtime

24 hours, every day

Signal Coverage

Bangkok and the vicinities including other provinces across Thailand through online and mobile channels Music lifestyle content

Concept

Music Lifestyle Content

Key Target Audience

Urbanista aged between 18-44 years

COOLfahrenheit is a radio station that offers international-style Thai music for urbanistas aged 18- 44 years in Bangkok and its suburbs as well as major cities nationwide. The station currently boasts a combined offline and online viewership of over 3.9 million people per month which has been rising constantly for the past 10 years. Also, it received highest acceptance and recognition from its audience through the professional COOLJ team with unique characters who introduces activities to build engagement with audiences, addressing lifestyles of new generations of working population. For instance, the Company continuously organizes events that respond to lifestyles and broaden perspectives of young generations in workforce. Unique and popular activities include COOL Outing, Ink Eat All Around and COOL Music Fest

COOLfahrenheit has been extended its viewing channels to digital platforms using an application on smartphones while keeping radio platform to promote a hybrid model to accommodate audiences to be able to tune in no matter where they are. This is also considered an expansion to tap into young generation audiences who prefer to use online channels to access content.

Revenue from organizing events and concerts through COOLive is one of the main sources of COOLism to compensate for the impacts from the contraction of overall radio media business. Events hosted and created by Coolive have consistently gained trust and confidence among audiences and sponsors. After the government relaxed and canceled COVID-19 control measures during the latter half of 2022, the Company was able to organize concerts in full while the 2 biggest concerts, Kamikaze Party and RS Meeting Dance Marathon received overwhelming feedback and all tickets were sold out during the first day of sales.

COOLanything delivers revenue from merchandise sales by converting listeners to customers through the creation of an online shopping experience on the COOLISM application under the COOLanything menu. Listeners can listen to music and shop online at the same time. COOLanything teamed up with commerce business units to source and select products that match the preferences of COOLfahrenheit listeners while product characteristics are different from other products on other commerce channels of the Company that targeted different customer groups.

2) Market and Competition

Advertising spend on radio media bounced back during the past year thanks to the economic recovery post COVID-19 pandemic. Consequently, total advertising spend on radio media for 2022 stood at 3,456 million baht, increasing 4.95% from the previous year. Brands are interested in and choose radio media as one of the main media for their marketing plans while they are likely to select advertising media from the radio stations based on the popularity including the price factor to evaluate the cost-effectiveness of the advertising spend.

Therefore, the Company can leverage our No.1 position on rating with engaged listeners both on air and online as a strategy to propose an attractive CPM or cost per thousand to customers to compare the ratio between the number of audience and advertising price per unit so that brands can achieve the maximum value of the advertising media and reach the most target groups. Furthermore, new sales packages are bundled with other media under COOLism brand to offer integrated solutions for on air, online and on mobile with value-for-money for customers compared with other rivals. Consequently, COOLfahrenheit became the radio station with the highest market share in radio advertising media market thanks to the mentioned factors.

Additionally, from the behavior of radio audiences who increasingly listen via online platforms with the growth of around 10-20% and an average listening time of 1.34 hours per day, the Company focuses on developing online channels from COOLism application and partnership with leading music streaming applications such as JOOX, Apple Music and Google Assistant to extend to audiences in lower age groups and diversify channels for customers to tune in to listen to its media.

3) Procurement of Products and Services

The Company continued to encourage each radio program host to enhance their potential and capabilities to have diverse skills and knowledge. In particular, they must have basic knowledge of marketing and know how to use technology and social media to achieve maximum benefits. They must also be able to host the program in line with the expectations and tastes of the target audience. Recently, the hosts of the Company must also have the skills to facilitate on ground promotional events and accommodate customer’s advertising campaigns and the Company’s commerce products.

In addition, the Company has implemented a computer system to control the automatic broadcast using the technology that meets international standards. The software is also constantly updated to be modern with quality broadcast through FM radio systems and other digital platforms that can be accessed from all types of devices. 

Music Business

1) Product Characteristics

The music business of RS has been an upstream business for the Company for over 40 years and it has been through transformations and disruptions from technology and other business contexts until today that RS Music represents intellectual properties that are fresh and fun with differentiated content compared to traditional record labels. RS is not a music label but music content recreation that is present in every lifestyle of the people.

RS music business is comprehensive in all dimensions to create content that is diverse to meet different needs of artists, markets and target groups using media and marketing strategy, artist management and song content management through online media such as streaming, social media and downloads and offline media such as television, events and showbiz.

RS Music adopted 2 cores in business operations which are

Content Creation

RS Music co-creates and co-develops content in collaboration with a network of artists, partners, creators and influencers to supply new content that address market needs and lifestyles of consumers. Its content creation is operated under 3 record labels namely, Rsiam, RouseSound and Kamikaze and RS works together with multiple artists and partners.

Content Monetization

RS Music leverages assets of the music business to develop related content and add value for its music which is considered intellectual properties of the Company through digital service platforms, social media, copyright management as well as emerging formats in the future such as NFT and Metaverse.

Main Sources of Revenue in Operating Music Business can be classified into 3 sources per following:

  1. Revenue from the use of music through digital systems (digital content), both in terms of music played by online streaming through various platforms such as JOOX, Spotify and Apple Music; listening to music and watching online music videos through platforms such as YouTube, Facebook and AIS Play; or revenue generated from viewing of newly created content through social media platforms with over 50 million accounts of fans.
  2. Revenue from events and showbiz of artists under the labels which includes performances and shows of the artists throughout the year. Revenue generated from sponsorships of artists is also a major part as artists become brand ambassadors or presenters for a variety of products through multiple channels, online and offline as well as artists’ own social media channels.
  3. Revenue from copyright management from managing, collecting and broadcasting music content by Thai Copyright Collection Company Limited (TCC), a subsidiary that is responsible for storing the Company’s copyrighted works used in for commercial purposes.

2) Market and Competition

Since the COVID-19 outbreak, consumers behavior regarding their music consumption has changed as they have more personal time staying at home and need music for relaxation due to work from home. Music streaming has also been trending for consumers as users or audiences can view videos or listen to music anywhere anytime as they wish. As a result, more consumers go online to listen to music through various websites or social media using their smartphones. This presents opportunities for music business with music inventories and copyrights of content to generate revenue through digital platforms. The platforms let audiences access with speed wherever and whenever with much lower distribution cost. Nevertheless, digital platforms and online technology are also opportunities for independent record labels and artists to create their work and introduce to the market in short time at lower costs. This leads to a large number of new operators in music business who create diverse formats of work to the market.

As such, the Company must impart importance to the source of revenue from music inventories and copyrights of songs to be repackaged to serve current target customers as well as new music creation from existing capabilities of our staff with experience and success. Social media platforms that are diverse and changing are key to speedy customer access that responds well to the lifestyles of all target customer groups.

3) Procurement of Products and Services

The Company set a policy to offer more opportunities to new groups of musical artists and composers, and more channels for musical creations or new forms of media channels. In order to develop RS songs and works to be modern and appealing to all target groups, consideration was given to artists with distinguished lifestyles, not those with only singing talent. Also in place was a policy to produce works in right quantities, with emphasis on their quality, close attention after launch, and communication with artists via shared media channels; so that production of each project would follow its initial plan. Evaluation based on indicators in various social media channels was also performed in terms of production quality and responses from the target groups.

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