Nation Multimedia Group (NMG) yesterday announced a major restructuring aimed at strengthening its competitiveness as the media industry contends with stiffer competition with the emergence of digital-based technology.
NMG chief executive Somchai Meesane said the company’s operations would be divided into four main business groups: print media, television, digital and events management. The creation of these groups will enable NMG to focus on its core competencies while enhancing its media credibility.
Somchai said NMG this year targeted revenue of Bt700 million for print and new media - covering its operational costs in these businesses.
The group also seeks to generate greater revenue from existing content by spreading it across new media platforms, Somchai told the annual general meeting. This capability had not been fully utilised in the past.
Of the targeted revenue stream for 2018, NMG expects to earn Bt470 million in advertising revenue from its three newspapers - The Nation, Krungthep Turakij, and Kom Chad Luek - and between Bt150 million and Bt180 million from distribution of the newspapers. New media is expected to account for between Bt50 million and Bt60 million.
The group also expects income of about Bt600 million from its digital TV channels for the year.