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Baht/$ 34.56/61 (Bid/Ask)
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GOLD |
12,800
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HOME ENTERTAINMENT
WORANUJ MANEERUNGSEE
Grammy Group has repositioned its Imagine music stores to become one-stop home entertainment outlets, a business many other operators have abandoned.
Yongsak Ekprachayasakul, he GMM Grammy Plc managing director of sales and marketing, said the move was aimed at building Imagine into the country's biggest home entertainment chain. Currently, Media Network Retail Co is considered the biggest player with about 150 Media Network shops nationwide.
The home entertainment business has been shrinking due to the convenience of online downloading and growing piracy problems, which have forced major players such as Pongsaap and CVD Entertainment to leave the business.
But Grammy is still confident in its capacity as Thailand's largest provider of music content.
''Though music and movie piracy problems are getting more serious, there are some groups wishing to buy genuine products due to high quality. At the same time, some people are collecting them as well,'' said Mr Yongsak.
All 62 existing Imagine outlets have already been adapted to the new concept.
''Our Imagine outlets sell all home entertainment products ranging from music to movie CDs, VCDs and DVDs from many producers, not only Grammy products,'' he added.
Grammy also expects, if opportunities arise, to buy the rights to Hollywood movies to sell at its Imagine stores.
In addition, Grammy has a contract from Ek-Chai Distribution System, the operator of the Tesco Lotus supercentre chain, to operate home entertainment areas at all Lotus outlets nationwide.
Grammy has spent nearly 100 million baht to decorate the sales areas at all Tesco Lotus stores and to install technology for downloading music. The zones, which sell physical entertainment products, have been in service since May but the off-line download kiosks will start late October.
After the change, Imagine expects sales of 500 million baht this year from 153 outlets nationwide, a surge of 65% from 300 million baht last year. It expects sales of over 700 million baht in 2009.
Grammy shares closed unchanged yesterday on the SET at 13.50 baht, in trade worth 176,000 baht.
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