BEC World targets leading content provider status amid digital disruption
BEC World, the operator of Thailand‘s Channel 3, is embarking on a transformation to become a leading content provider and expand its revenue streams in the digital content platform and global content licensing sectors. Surin Krittayaphongphun, president of TV business and executive director at BEC World, said this strategic move aims to ensure the company’s survival and sustainable growth in the face of changing consumer behaviour and the digital disruption era.
Currently, the company’s revenue from its TV business contributes 85-88% of the total revenue, but this is predicted to decrease to 70% within the next five years. To counter this, BEC World plans to grow its revenue from global content licensing, artist management, movie and music content. The digital content platform business and global content licensing are expected to account for 15-25% of the total revenue in the next five years.
BEC World’s digital business includes 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 and some African countries. By the end of this year, it aims to have 10 million viewers of CH3 Plus and 300,000 paid subscriptions for Channel3 Plus premium.
“We’re transforming into a leading content provider by building single content on a multiplatform,” said Surin Krittayaphongphun.
The firm currently spends 3 billion baht per year on the production of TV dramas, which make up the channel’s core revenue. BEC World plans to expand its offerings beyond TV dramas adapted from novels, with a focus on developing content based on successful foreign TV dramas.
Surin Krittayaphongphun also anticipates the company’s revenue to grow in the second quarter, driven by the popularity of its Royal Doctor TV drama. TV dramas generate 54% of the company’s total revenue, while news content accounts for 36%.
“Since the second quarter, political 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,” Surin Krittayaphongphun said.
Although TV media’s share of total media advertising in Thailand has declined from over 60% in the past to 50-52% currently, it still dominates ad spending. BEC World is also assessing the potential need for a digital TV licence in the future, reports Bangkok Post.
