RS Group unveils its 2023 performance with a 1.395 billion baht profit or 918% growth,
while expanding social commerce and advancing entertainment and event businesses
RS Public Company Limited or RS Group reveals its 2023 business performance with a total revenue of 3.65 billion baht and a profit of 1.395 billion, which was 918% growth on a year-on-year basis. With the upturn of entertainment businesses, from concerts, events and sponsorship to advertising media sales, as well as the Value Unlock strategy, RS Group will unleash potential of all its businesses through the new structure, consisting of four main business groups, namely RS Music, RS Multimedia & Entertainment, RS LiveWell and RS pet all. With its determination to be ‘Life Enriching’ for both consumers and their pets, the Group will equip all the businesses with more agility to raise further revenue and build on business opportunities. As it strives to expand social commerce on various platforms and elevate the development of content and entertainment businesses through the new structure, it is expected that RS Group’s revenue will reach the target of 4.4 billion baht by the end of this year.
Mr. Surachai Chetchotisak, Chief Executive Officer, RS Public Company Limited, said: “In 2023, RS Group successfully expanded our ecosystem of media & entertainment and commerce businesses with the Value Unlock strategy, while restructuring all the businesses to boost agility. In the past year, entertainment businesses generated further growth by elevating content development through all channels. Meanwhile, on-ground events was be able to continue as usual throughout the year. RS Group’s concerts and the partnership under the ‘Across the Universe’ Joint Venture with GMM Music received remarkable feedback. As a result, the entertainment businesses achieved significant revenue growth. In addition, the joint venture with the world’s leading music label ‘Universal Music Group’ to manage music copyrights enhanced strong growth from digital and streaming platforms, as well as extended reach to regional markets. As for the commerce businesses, we have further enhanced our extensive range of quality products and services. Especially, the full-service pet business ‘RS pet all’ consists of three businesses, which consists of products under the brands Lifemate, HATO VETERINARY SELECT and Jungle Monster Thailand; pet care service providers under the brand HATO Pet Wellness Center and HATO Animal Hospital; as well as retail shops under the brand PET ALL MY LOVE which has now expanded to two branches.”
Mr. Wittawat Wetchabutsakorn, Chief Financial Officer, RS Public Company Limited, added: “Successfully, our total revenue from sales and services in 2023 achieved 3.65 billion baht from the rising growth of entertainment businesses, including advertising media, music contents, activities and concerts. As a consequence of establishing RS UMG Co., Ltd. under our collaboration with Universal Music Group to manage music copyrights, we made special revenue of 1.637 billion baht before taxes and expenses. In October 2023, the company also paid interim dividends of 0.60 baht/share for current shareholders.”
“This year, we will advance our business further with the new structure which gives a clear direction and is in line with today’s situation. While the commerce businesses will play a crucial part in enhancing robust revenue with social commerce by leveraging competence of talented artists and celebrities under the Group to create diverse contents and attract consumers through all the social media platforms, they will also distribute products to global markets. Additionally, the Media & Entertainment businesses have exceeded the limits beyond digital TV and grown into other businesses, such as digital media, events and contents through various business units. Moreover, RSDG will manage media and digital channels, while RS Multi X will present events with highlights on its outstanding creativity, delivering its first event “FLOW DAY PATTAYA WATER FESTIVAL 2024” in the near future. Besides, Rose Studio will create opportunities from a variety of new content development, reaching global markets through OTT platforms. Significantly, RS Music is actively prepared to be listed on the Stock Exchange of Thailand (SET) by 2025. All of these are part of RS Group’s determination to be “Life Enriching” for both consumers and their pets. We are confident that this year’s total revenue will hit the target at 4.4 billion baht,” Mr. Surachai concluded.
For more information and updates of RS Group, please visit www.rs.co.th and https://www.facebook.com/RSGROUPOFFICIAL
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