Mushroom seeks B1bn intake
Mushroom Television projects revenue to reach 1 billion baht a year within the next four or five years, thanks to strong growth in digital media.
Mushroom, a subsidiary of Bangkok Post Plc, expects annual growth of at least 40% over the medium term as it expands from being a content creator to becoming a content provider, said chief executive Akarat Nitibhon.
Mr Akarat said that under the content-to-connect strategy, the firm will leverage its content across multiple media channels.
"With our quality content, large databases and quality partners, we expect strong growth across the business, whether it be in our advertising services, television productions, programming for other media or seminars," he said.
Seminars and business-matching programmes are rapidly growing parts of Mushroom's business, Mr Akarat said.
In November, Mushroom will organise the Miracles of Capital conference featuring Wong Jeh Shyan, former chief executive of CommerceNet Singapore and current chief executive of MOC Capital Berhad, a Malaysian venture capital firm.
Mushroom is the Thai licensee for Mr Wong's popular Miracles of Capital programme, which runs in 17 countries. The three-day workshop, limited to just 27 participants and with a course fee of 300,000 baht, is aimed at local business owners interested in accessing global capital markets.
Another programme under development is a collaboration with Thammasat University on the company's popular Ayu Noi Roi Lan series, a programme about young entrepreneurs and startups.
"We can do seminars that are large in scale and we can do seminars that are very exclusive because we have quality content and trust from the market," Mr Akarat said.
In the first half of the year, Mushroom posted revenue of 91.6 million baht, up 30% from the same period in 2016. Profit for the first half rose 312% year-on-year to 9.5 million baht. The company projects revenue of 245 million baht for 2017.
He said the company expects steady growth in both advertising production and television production.
One new programme from Mushroom will be Dr Oz Thailand, a local adaptation of the popular US talk show.
Dr Oz Thailand will be produced by Mushroom in collaboration with Siriraj Hospital and broadcast on True.
Chokdee Wisansing, chief operating officer of Bangkok Post Plc, said Mushroom's adaptability and speed was a clear strength underpinning its rapid growth, and he expressed confidence that the firm would expand on target in the future.