Media Prima narrows net loss; 1Q revenue rises 3.1% to RM280.7mil
Summary
MEDIA Prima Bhd, a Malaysian integrated media group, recorded higher digital advertising, digital content and commerce revenue for the three months ended March 31, 2018 (1QFY18), which turned the group to positive earnings before interest, taxes, depreciation and amortisation (Ebitda) of RM2.2 million, narrowing loss after tax (LAT) by 44% for the three months. The group – which cleared-off major exceptional items last year to begin 2018 on a clean slate – said the positive results reflect the progress of its transformation efforts (Odyssey) to become Malaysia’s leading digital-first content and commerce company. Media Prima Television Network’s (MPTN) tonton remains Malaysia’s top online video streaming service with its total number of registered users increased by 2.6% to 7.8 million in the three months. Media Prima expanded its ability to capitalise on its audience through Gegaria Fest 2018, Malaysia’s first integrated digital-centric on-ground lifestyle and entertainment event. The festival, which was held in seven venues across the nation between January to April this year, drew over 220,000 visitors and a digital reach of over 6.8 million views on Facebook Live.