Heliconia H Group Co, the operator of several competition-based reality TV cooking shows such as Iron Chef, has diversified its portfolio to include kitchenware and organising food events, with the aim of cultivating sustainable growth and mitigating risk.
Kitikorn Penrote, the company's chief executive, said Thailand's media landscape has changed with the emergence of new digital platforms. The value of TV ad expenditure has steadily dwindled, while competition among TV programmes has escalated markedly.
"In light of this transformed landscape, we no longer put all our eggs in one basket," said Mr Kitikorn, who added that Heliconia H Group is in the process of developing its own brand of kitchenware called "TopChef", leveraging the popularity of its reality TV cooking show aired on TV 7.
TopChef kitchenware would become available at Makro stores next year.
Mr Kitikorn said the company is poised to establish a joint venture firm to manufacture food and related items under a brand associated with one of its reality competition cooking shows under the Heliconia H Group.
These joint-venture products would be marketed both domestically and internationally.
The company is also going to introduce 3-4 new ready-to-eat meals, prepared by its team of skilled chefs, into the market next year.
In addition, the company has ventured into hosting its own food entertainment events this year.
"Food event organisation and management hold substantial growth potential, which can contribute to our long-term trajectory. Our food events will differ from others, not only selling food, but also allowing visitors to relish the ambience," Mr Kitikorn said.
The company's first culinary festival is taking place on Aug 11-20 at CentralWorld mall. This food event was arranged under a theme park setting, encompassing three distinct zones: "Caribbean", for seafood delicacies; the "Magic Land" zone, showcasing main courses; and the "Wonder Land" zone, dedicated to desserts.
These delectable dishes were the brainchild of 70 celebrity chefs who have graced the company's various reality competition cooking shows.
"Within four days, our inaugural food event drew an astounding attendance of up to 40,000 visitors daily, exceeding our initial projections. Beyond being a culinary showcase, our ambition is to evolve into a paramount purveyor of food-based entertainment events," said Mr Kitikorn.
The Heliconia H Group boasts an array of competitive reality cooking shows, including Iron Chef, Master Chef Thailand, Top Chef Thailand and The Next Iron Chef. In addition to its reality TV competitions, the company is planning to develop online reality show content for distribution via over-the-top (OTT) platforms in the upcoming year. Furthermore, plans are underway to globally broadcast Bid Coin Chef -- their own competitive reality cooking show.
As of now, 70% of Heliconia H Group's revenue distribution comes from television ventures, 20% from organising events, and 10% from ready-to-eat meals. Its strategic blueprint suggests the revenue composition is poised for transformation next year, with food entertainment events projected to contribute 40%, while ready-to-eat meals and related culinary products would account for 20%. The remaining 40% would still be from its TV business.