Workpoint Entertainment Plc (WORK), the SET-listed operator of Workpoint TV, expects its market capitalisation will increase by 50% to 15 billion baht in the next two years thanks to the success of digital TV and a wider viewer base.
The latest TV ratings by Nielsen Thailand rank Workpoint TV as the No.3 channel, beating MCOT's Channel 9 for the first time since its start six months ago. The creative channel has a 5% share of total viewership.
Panya: Content most important
"This result on digital TV is beyond our expectation," said chief executive Panya Nirunkul.
He said 2014 was an investment year for Workpoint as it built its brand on digital TV, proving quality TV programmes could draw viewers. It has spent 1.2 billion baht on licence fees and business infrastructure including studios, broadcasting equipment and content production.
The company's TV business saw revenue growth of 102% to 460 million baht in the first nine months of this year even as the broadcasting industry was hit by lower ad spending amid the political turmoil.
Workpoint TV expects to generate 550 million baht this year, while the company forecasts 2.3 billion in total revenue. Mr Panya said it had spent 600 million baht to adjust its programming.
The initial success came from varied content and fresh creative ideas for its own content production and imported programmes, he said. Among the new shows are Bao Young Blood, The Singer Thailand, Let Me in Thailand and a biography of Gautama Buddha, the largest ever Indian-produced series.
To strengthen its content line-up, Post TV, the TV arm of Post Publishing Plc, will join hands with Workpoint TV to produce female-oriented programmes aired on weekdays in next year's first quarter.
"Content is always king," said Mr Panya.
He said Workpoint TV prioritised talent programme moderators and not popular stars like other channels.
Next year Workpoint plans to generate 1.8 billion baht from its digital TV channel and total revenue of 3 billion by hiking its ad airtime rates from this year's 50,000 to 200,000 baht a minute.
Workpoint has raised 1.3 billion baht under its capital-increase scheme — 1 billion from Mindo Asia Investments and 300 million from media agency Dentsu Thailand. Mindo now holds a 10% stake in Workpoint and Dentsu 3%.
WORK shares closed on the SET at 41.50 baht, up two baht, in trade worth 55.9 million baht.