4nologue Co, which has imported Korean artists as an event organiser for more than a decade, wants to challenge K-pop, grooming Thai pop bands for export to Asian markets.
Anuwat Wichiennarat, the company's chief executive, said the company is spending 400 million baht during 2019-22 to expand into an integrated entertainment business, ranging from importing Korean artists and organising events to producing its own artists.
The company's artists will appear in different roles on TV shows and series, as product presenters, and in concert both domestically and abroad.
The company plans to introduce four boy and girl bands to the market over the next four years, Mr Anuwat said.
On Tuesday the company introduced its first boy band, Trinity, with four members: Teeradon "James" Supapunpinyo, a popular Thai actor from the GTH television series Hormones; Siwakorn "Porsche" Adulsuttikul; Lapat "Third" Ngamchaveng; and Jackarin "Jackie" Kungwankietkrai.
The company plans to arrange a Thailand tour this year and an Asian tour next year.
"In my experience in Thailand's entertainment industry for 13 years, our country has lost billions of baht from importing foreign artists in various platforms, from product presenters to K-pop concerts and series," he said.
"I believe it is time to produce quality, international-standard Thai pop music and export it overseas in the near future."
Mr Anuwat said about 100 K-pop concerts are held in Thailand a year and over 50% of ticket buyers are Thais, with the rest foreigners.
Each concert fetches 35-50 million baht, with total revenue for K-pop of 3.5-5 billion baht a year.
"T-pop is second to none," he said.
"If K-pop is popular among Thais, why can't T-pop be popular abroad?"
Mr Anuwat also urged the government to take part in promoting the industry.
4nologue reported revenue of 700 million baht in 2018 and expects to grow by 10-20% this year.
Of the total, 30% would come from event management, 40-50% from imported artists and the rest from other activities.
With its plan to produce its own artists, 4nologue expects revenue to reach 1 billion baht in four years.
"The entertainment business keeps growing every year," Mr Anuwat said.
"With more stress, we believe more people will opt to leave the house to entertain themselves."