SET-listed BEC World, the operator of Channel 3, is aiming to become a leading content provider and boost revenue in its existing digital content platform business and global content licensing business.
"We're transforming into a leading content provider by building single content on a multiplatform," said Surin Krittayaphongphun, president of TV business and executive director at BEC World.
This move would enable the company to survive and ensure sustainable growth amid changing consumer behaviour in the era of digital disruption while tapping into younger audiences, Mr Surin said.
The company's revenue from TV business accounts for 85-88% of total revenue at present and this is projected to fall to 70% within the next five years. The company will increase its new revenue stream from global content licensing, including other areas such as artist management, movie and music content. The digital content platform business and global content licensing combined are expected to account for 15-25% in the next five years.
In terms of digital business, the company has the CH3 Plus application for free online content viewership and a Channel3 Plus premium paid subscription version. The company has also licensed content overseas including Southeast Asian nations as well as some countries in Africa. It is expected to have 10 million viewers of CH3 Plus and 300,000 paid subscriptions for Channel3 Plus premium by the end of this year.
Mr Surin said the firm spends 3 billion baht per year for the production of TV dramas, which represents the channel's core revenue. The firm will not limit itself to the development of TV dramas adapted from novels but would also develop them from successful foreign TV dramas.
Mr Surin also expects the company's revenue to grow in the second quarter, thanks to the popularity of its Royal Doctor TV drama.
The TV drama generates 54% of the company's total revenue, while news content generated 36%.
"Since the second quarter, politcal debate programmes and news saw an increase in advertising and this situation is expected to continue this year as the political uncertainty is attracting the audience's interest," Mr Surin said.
Currently, TV media still accounts for 50-52% of total media advertising in Thailand but this reflects a decline from over 60% in the past. However, TV still dominates ad spending.
The company is also evaluating whether or not it needs to have a digital TV licence in the future.