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SET Symbol RS
Last Done 24.00 THB
Change -0.40
% Change -1.64%
Volume 19,071,700
Day's Range 23.80 - 24.60
52 Weeks' Range 12.10 - 30.00
Updated 11 Jun 2021 16:40

Company’s Business

At present, RS Group has 3 main core businesses which consist of Multi-platform Commerce, Media, and Music & Other businesses.

Revenue Structure

Type of Revenue




(Million Baht)

Share in total revenue

(Million Baht)

Share in total revenue

(Million Baht)

Share in total revenue

Commerce business







Media business







Music & Other business







Total Revenues








The commerce business, operated under RS Mall Company Limited and Lifestar Company Limited, offers a variety of products including Health & Beauty Products, Home & Lifestyle Products and Accessories. The health and beauty products are divided into skin care products under the brand “Magique”, hair care under the brand “Revive” and food supplements under the brand “S.O.M.”, of which the company has collaborated on with research institutions and local and overseas manufacturers. The latter are producers of quality products that meet international standards as well as address the needs of customers. Also, the Company has partnered with the product owner. As a result, there are over 100 items sold through the distribution channels of the commerce business. The procurement of products stems from research data from leading research and testing laboratories that the Company works with, including direct data collection from customers. This helps the Company understand the trends and needs of the overall market as well as the consumers’ needs before developing each type of product. Before and during the sale of each type of product, the Company conducts a random inspection of product quality by regularly submitting components for inspection with the laboratory. If the product is from a partner, it is randomly inspected before being sent to the warehouse and while it leaves the warehouse before it reaches the hands of the consumers.

Regarding many of the Company’s distribution channels, there is continuous development and promotion of product variety under the brand “RS Mall” using the Company’s offline and online media channels, including: 1) Offline media owned by the Company iincluding Channel 8, satellite TV channels and radio media through COOLfahrenheit, as well as two other digital TV channels owned by partners, namely, Thairath TV and Workpoint, that can reach over 30 million viewers per day; 2) Online media on the Company's own platform of and LINE SHOP via @RSMall, which have over 500,000 followers, and during the year, the Company also entered into trade agreements with other leading online platforms in the country to present products through channels such as Shopee and Lazada; and 3) Sell through more than 600 modern retail stores nationwide.

Should the customer wish to buy products and services, they can do so through the various channels (except for products placed in modern retail stores and cosmeceutical outlets) via the Company's call center agent and system. The Company has continuously developed a telemarketing system to support a growing customer base of more than 1.3 million people; it is also able to analyze customer data to precisely meet the needs and lifestyles of customers. The Company has developed the skills and capabilities of its outbound call center in order to be able to recommend and effectively sell products that meet the needs of customers. The Company also added a customer relationship management (CRM) team to take care of important VIP customers, ensure customer satisfaction, and maintain loyalty of the customer base to the RS Mall brand and increase the number of repeat purchases. In addition, the Company organizes sales and marketing activities throughout the year such as “Shop1781 Mid Year Super Sales” and “RS Mall New Year Celebration 2020” to stimulate customer spending from both new customers and existing customers in the Company's database, which has grown to 1.3 million at the end of 2019.

The Company has outsourced an external company to deliver products to the customers. For customers in Bangkok and its perimeters, the goods will be sent within the day following the date of purchase. Customers in the provinces will receive their products within 1 to 5 days. More than 99 percent of payments is from the collection of cash upon delivery.

Marketing and Competition

The Thai retail market has a market size of 4 to 5 trillion baht, with a steady growth rate of approximately 5 percent per year. However, in 2019, the growth rate decreased to 3.1 percent, and in 2020, it is expected to grow at a level of 2.7 to 3.0 percent. However, the E-Commerce market targets customers with medium to high purchasing power, and it still has the tendency to perform better than other retail markets. It also plays an increasing number of roles, with a growth rate that is higher than 20 percent per year, especially in Thailand which has the highest such growth rate in the ASEAN region. At the end of 2019, more than 90 percent of revenue from the Company's commerce business was from advertising and distribution through the Company's offline media. When considering competitive aspects, it can be deemed that the Company does not have direct competitors. The purchasing behavior of customers through the above mentioned channels stems from satisfaction and product purchasing decisions based on product features, pricing and promotions that meet the current needs of customers. Viewers, listeners, music fans and program fans of the Company's media are approached at the same time which differentiate the Company from the media of other companies.

It is the view of Kasikorn Thai Research Center that, although the online shopping market will play a greater role in consumers’ purchasing behaviors in the next 5 years, consumers are still expected to choose to buy products through both offline and online channels, depending on the type of product and their emotional states, moods or demands at that time. However, retailers must differentiate their products, as well as offer services that impress or create new experiences for each customer. They must also have the flexibility to adapt quickly to meet the needs of each client who is always looking for new experiences or new things, in order to encourage repeat purchases and get such customers to share information or such experiences to other potential new customer groups. Through this approach, which is consistent with the method of expanding the commerce business of the Company, it can be seen that in 2019, in addition to advertising and selling through the Company's media channels with a high growth rate due to the in-depth analysis of data surrounding the needs of customers as well as the support of a telemarketing team with increased efficiency, the Company is also expanding new distribution channels both in its online channels and modern retailers, as well as developing sales channels through Application COOLISM, a platform of COOLfarenheit. This allows nearly 2 million active users to listen to online music, which can be considered a new channel that will be launched in 2020, in line with current consumer behavior patterns.

Procurement of Products

The Company, in collaboration with the International Research Institute, invented important ingredients that comprise each product. Once a vital ingredient or extract is obtained, it is produced by leading national manufacturers. Some components are also produced by the Company’ partners who are contracted to produce quality products. The Company then advertises and brings the products to the market through the Company’s distribution channels.

Media Business

RS media business consists of two major media channels i.e. Television and Radio.


RS operates “Channel 8” digital TV and 3 satellite TV channels, including Sabaidee TV, Channel 2 and SATV that have distinctive formats and target viewers, as follows:

Channel 8

The “Channel 8” television channel, under the concept “Everyone Can Watch Channel 8, Press Number 27”, presents programs that respond to the needs of the majority of the audience in the country. The concept is to feature free television that can reach people of many genders and ages. There are programs that serve as the magnets of the channel, such as news programs with the slogan “Channel 8 News, Reliable and Easy to Understand”, which continues to be popular, along with “Morning News”, “Evening News” and “Late Evening News” as well as other news programs presenting talks and grievances, delicious menus and various popular tourist attractions, such as “Cho Praden”, “Pak Tong Dong Ru” and “Sakit Kao Rop Lok”. This also includes programs in the boxing sports group which has continuously improving ratings like “8 Muay Thai Super Champ”; added time for “Muay Hardcore” boxing program on Saturday where the unique difference is the use of open-fingered gloves (MMA fighting); and “Ultimate Fighting Championship (UFC)” world-class boxing that has been licensed for live broadcasting. Channel 8 also maintained its leadership in international series that have been popular for a long time. In 2019, Channel 8 began production of a 4-part series under the name “The Series 8”, which has increased over 70 percent in popularity among a new audience in Bangkok and its vicinity. Ten new dramas in 2019, including “Dong Poodee”, “Matchurat Holiday”, “Bussaba Pean Foon”, “Pom Rak Salap Huajai”, “Preng Lablae”, “Manee Naka”, “Thepthida Khon Nok”, “Perng Ritsaya”, “Lae Ranjuan” and “Sang Nang Prai”, remain viewers’ favorites in 2019, and Channel 8 will continue to produce quality shows in the drama, fantasy, mystery and beliefs genres throughout 2020. The year will also see Channel 8 advance further into the drama segment, catering to the preferences of Channel 8 viewers, as well as increase its entertainment factor with a range of variety programs that have always been popular, including “Krua Lan Thung”, “Eung Teung Siew”, “Plaek Tua Tid”, and new programs that have proven to be extremely popular online like “Chong Song Phee". With such a variety of popular program types, “Channel 8” enjoys top ratings in the country, based on surveys conducted by AGB Nielsen Media Research (Thailand) throughout 2019.

Satellite Television consists of 3 main channels: Sabaidee TV, Channel 2 and SATV. Each channel maintains its own concept and types of programs, as follows:

Sabaidee TV

“Sabaidee TV - Number One Hit Music Television Station in Thailand” targets Thai music lovers, presenting a variety of music genres, including folk songs, music for life, string music, popular songs in the past, and old songs that are hard to find. The strength of Sabaidee TV channel lies in overseeing the production and management of content under the RSiam music label, resulting in a variety of programs. Coupled with the selection of unique program operators, the programming is memorable and loved by a variety of groups, making the Sabaidee TV channel a fun way to watch television throughout the day. And, ongoing events make it possible to communicate with and reach out to more audiences.

Channel 2

“Channel 2” showcases superb dramas and international series from China, India and Korea that have been highly popular on Channel 8. Each has been carefully selected and concisely presented on Channel 2, to retain the audience base by catering to their favorite entertainment styles.


“SATV” or “Satellite Variety” presents MV of hit songs, leading series and movies, throughout the day.

Marketing and Competition

The television media industry competes for viewers and ad spending is more intense than in the past. In terms of digital TV licenses in the business, there has been an increase to 24 licenses (22 channels). In 2019, the Office of the National Broadcasting and Telecommunications Commission (NBTC) terminated the licenses of 7 digital TV channels, resulting in 15 remaining channels. However, this does not reduce competition in the business as it is still concentrated among the leading channels. Channel 8 reflects a channel with extensive experience in television media, having been engaged in the satellite TV business. The Company has the knowledge and capability, continuously producing good quality works that draw audiences. It is still being affected by the slowdown in the overall media industry, although the number of TV viewers in the past 5 years has not changed much.

The current high competition among operators, along with the economic slowdown, has caused ad spending to be quite limited, with some budgets shifting to online media advertising. To be able to survive in this industry, operators must produce outstanding programs that are interesting and relevant to the needs of the target group. They must also apply proper cost management of their program productions, an extremely important factor. Another thing that cannot be ignored is to put out interesting content on online media at the right time, which can be another source of income.

The intense competition resulted in rich and diverse content on digital TV, which in turn made the viewership of satellite TV decrease. Nevertheless, as the cost of satellite TV is not high, compared to that of digital TV, the Company will continue to impart importance to its satellite television channels, aiming to maintain its leadership position in the satellite TV business as well as to control production costs at a moderate level. One measure is to re-broadcast content that was popular in the past in order to attract diverse and unique viewers. Another measure is to seek new sources of revenue by using television as an additional marketing and distribution channel for the Company’s commerce business.

For the marketing strategy, in addition to setting clear target audience groups, and designing and producing quality programs, the Company has also leveraged its competitive advantage. Channel 8 focuses on an audience aged 35 years and up because this is still the main audience watching television programs. It is a large market with a high purchasing ability. The Company also targets the youth market and the country music market, which it has been involved with since the past. It also produces programs on satellite TV channels with content from artists, singers, actors and MCs involved in music and others. Used as a key component in the production of programs, combined with the strength of a team that is experienced in the production of television programs, the production results are of high quality and receive good feedback. This is enhanced with the flexible structure in management and cost management, including using the company’s staff in some of the production processes, employing external personnel (outsourcing) and using the same personnel in the digital TV and satellite TV channel operations. Managing the cost of television media is going as planned, and the Company can focus on quality as well, in order to be accepted and trusted by both the audience and customers. While analysis of the needs of the target audience helps to develop the format of the programs to match the needs of the audience and customers, and raise the popularity of the programming, another important component is that the production quality must satisfy the audience and customers, including services both before and after sales, such as responding to customer needs quickly and precisely, listening to and solving problems for customers, creating a pack for selling advertising to meet the needs of customers and maximizing their benefits, etc.

Procurement of Products or Services

The Company has signed contracts with various personnel. It has also selected employees, from the front end to the back end, that are capable, skilled and accepted by the target customer group. For front end staff, there is a focus on artists and performers in the RS network, but independent performers and artists are also selected. As for production process, the Company’s team handles the formatting and production management. While production is handled by the Company’s employees to one extent and contract productions are also employed. The Company maintains partners who are leading domestic and international companies to help continuously select new and interesting programs for local audiences.


The Company engages in the radio media business through the radio frequency system of F.M. 93.0 MHz around Bangkok and vicinity, through online channel at and mobile platform via COOLISM application under the brand of COOLfahrenheit, with the following details:

Radio Station



Navy Radio Station


24 hours

Signal Coverage

Bangkok and vicinity, and through online and mobile channels nationwide

Program Concept

GEN COOL Living Young & Beyond

Target Audience

Generation C, aged between 20 to 44 years

COOLfarenheit Radio Station

COOLfahrenheit follows the Digital Transformation strategy. Without attaching its brand solely to a FM Analog radio station, the station has forayed into the digital platform and plans to maintain a hybrid system. The Company continues to fully operate commercial radio by continuing to focus on maintaining its popularity. At present, COOLfahrenheit, under the concept “GEN COOL Living Young & Beyond”, has been able to keep its listener base and popularity all over the country, as well as maintain its number 1 rating in the target category for over 16 years. These results are from a survey conducted by AGB Nielsen Media Research (Thailand), which resulted in advertising firm clients and product owners remaining confident in utilizing the Company’s advertising media.

Programming Format

COOLfahrenheit is a station offering international and Thai music for Generation C that connects with the online world; they are aged between 20 to 44 years, located both in the Bangkok metropolitan region and major cities nationwide. The station has been recognized by audiences for more than 16 years, and it is the first station to continuously play popular music, with carefully chosen songs based on a survey of listeners. The experience is enhanced by a professional COOLJ team that is unique and popular with listeners. The station also organizes activities that speak to the lifestyles and continually broadens the outlook of a new generation of professionals. Signature activities include COOL Outing, which gives a grand prize winner the chance to take their office to popular tourist destinations domestically and internationally; Ink Eat All Around, an event for foodies that showcases delicious local and global food, backed by M.L. Pasan Sawasdiwat; and COOL Music Fest, a music festival for Gen Y. These factors have all helped to make COOLfahrenheit the number one music station continuously, according to an AGB Nielsen Media Research (Thailand) survey from 2002 to the present (date from December 2019) in the Thai and international music radio program groups, with listeners aged 20 to 44 years.

Marketing and Competition

Marketing and competition in the radio media business remains high due to reduced ad spending. Customers thus choose to purchase advertising media at stations that are highly popular. While this is the main factor of consideration, pricing strategy is also an important point for such decision making. As such, the Company leverages its strengths of being the number one-rated station in terms of CPM or cost per thousand, a comparison of the ratio of listeners and advertising prices per unit that indicates value for money, allowing customers to get maximum efficiency and reach the most targeted audiences. In addition, new media bundle packages have been created for sale under the COOL brand, including On Air, Online and On Mobile. With over 49 million online listeners per month in the past year, this platform takes the number one spot in Asia.

Marketing Strategy

“Value for Money” strategy

Creating the most benefit for the customer's existing ad spending in a sales package format includes the selling of advertising time and marketing and promotional activities, making the investment worthwhile.
In addition, the Company has designed packages that reach a target audience in either the FM Analog and Digital Platform systems, focusing on Gen Y across the country, who are also likely to increase their use of digital online media, to meet the media buyer’s needs.

Strategy of promotional activities

The radio media business has become intensely competitive for those who want to create unique programming that adds value for the radio station and the customers as well as for the products featured in various promotional activities. Advertising alone is not sufficient to meet the needs of the customers, and to build the brands of the company and station. For this reason, the Company has improved its implementation strategy to focus on the promotion of a strategic partnership with partners in various fields by participating as a media partner in an event or a concert with the same target group. This also results in added value of the products in the promotional activities that are done between the show and the audience.

As for the promotional activities, the Company will focus on activities that can provide quality information and entertainment to the event participants. At the same time, the activities should be able to effectively fulfill the customers’ marketing policies. They should also be clear and appropriate for the target audience, and ultimately enable the Company to generate another income stream for the customer.

In addition, the Company also leverages its advertising and public relations departments to publicize the activities of COOLfahrenheit and its clients, to become widely known and accepted via press releases and advertising in other media, such as online media, television shows, and out of home (OOH) media, etc. Strategic planning of advertising services

Strategic planning of advertising services

The personnel of the Company have been in the radio segment for a long time; they possess good knowledge and understanding of the radio media business. They can advise customers on how to plan for the management of the best quality media as well as how to purchase advertising time or advertising packages that suits their purposes and listeners. The Company can plan special ad hoc activities to meet customer needs and accommodate any shortcomings in each type of product. The Company maintains a policy of partnership with each product that supports a program, which factors into advertising planning to glean the most value from the services of the Company.

Procurement of Products or Services

Radio hosts and creative and production personnel

The Company has created a new generation of radio hosts; each must increase their potential and capacity. In particular, they must have basic knowledge of marketing, know how to use technology and social media to achieve maximum benefit. They must also be able to carry the program in line with the expectations of the target audience. Currently, the hosts of the Company must have the skills to facilitate on ground promotional events and accommodate special promotional events. The host will serves as a key contributor in building the popularity of the station.

Broadcasting System

The Company has chosen to use a computer system to control the broadcast automation technology to meet international standards. The software is also constantly updated to be modern, and the broadcasting quality of FM radio systems and digital platforms can be accessed from all types of devices.


The music business of RS is comprehensive, covering every format. The business focuses on working without borders, to create content that is varied and meets the needs of the artist, market and target group through a media strategy, marketing, artist management and song content management in terms of the artist and song through both online media such as streaming, social media and downloads; and offline media such as television, events and showbiz.

To structure the music business model, the production of music begins with the offering of ideas, the concept and a definition of the target audience with artists who are ready to partner with RS, which features a team that is efficient and experienced in a variety of media channels, including both offline and online formats. This makes it possible to produce a wide variety of music to satisfy every target group, as well as produce music to market constantly. The process then includes the presentation of the concept and strategy to the Music Business Management Board for approval.

To set an appropriate production policy, stressing the importance of quality of the works and closely supervising the products on the market from beginning to end. Also, by focusing on communicating with artists on social media channels, the Company was able to stick to production based on the initial planning of each project; they were also able to measure and evaluate both the quality and response of the target group through various social media channels.

The use of various media, especially the social media of artists and music networks of the Company and its affiliates, has helped to make public relations work effective while leveraging all available media for maximum efficacy.

Systematically and efficiently manage music rights to generate additional revenue for the Company.

To add value to the artists who produce the works can be done via events and other kinds of showbiz, including taking on brand ambassador and presenter roles for products with the same positioning and target group as the artist.

To implement a policy that creates opportunities for new artists, songwriters and new music creation channels or new media channels, always keeping the Company’s songs up to date and covering the target audiences.

The music business operations include three main revenue sources, as follows:

Revenue from events and showbiz of the artists under the label reflects a strategy for event sales and artist showcases throughout the year. It is also a way to extend the image of the artist in terms of being a brand ambassador or presenter for a variety of goods and business extension with partners through artists’ social media channels such as branded content.

Revenue from the sales of music products in various formats through digital content, both in terms of music played by online streaming through various platforms such as JOOX and Spotify; listening to music and watching online music videos through platforms such as YouTube and AIS play; downloading songs and ring tones via the mobile phone; or downloading full songs from other channels like iTunes or via wireless application protocol (WAP).

Revenue from copyright collected by a Thai copyright collection Co., Ltd. (TCC), a subsidiary that serves to store the Company’s copyrighted works used in a commercial capacity.

Artists / Singers

At present, the Company has artists and singers with good potential under the RSiam brand, which is part of the strategy to tackle the changing media landscape and adapting target groups. In 2020, there will be the addition of more artists in the strings song category.

Artists and singers under the label, including both solo artists and groups, are those with the ability to perform and can add value to the business. They feature a wide range of music, covering all target groups across the country. Examples of RSiam artists include Baitoey RSiam, Ja RSiam, Kratae RSiam, Ble Patumrach RSiam, Lulu Lala RSiam, Flame, Tanya RSiam and Aof Dokfa RSiam etc.

Marketing and Competition

Currently, consumers have different behaviors when it comes to listening to music, compared to the past. The important factors for the shift are the use of the internet and the widespread increase of smartphone usage, which have both gotten consumers to listen to music online through various websites or social media, increasingly so through their smartphones. There has also been a lot of artists and singers who release their works online, which has created more competition.

As such, the Company must impart importance to the music business and lay plans that respond to the target groups as well as use social media that changes according to the preferences of the target groups. These areas of focus will help to reach consumers quickly and align with the respective lifestyles of each target group.

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