RS acquires 605 million baht after closing a deal with Universal Music
Ready to expand investments in growing music and other new businesses in the future
RS Music under RS Group has acquired 605.10 million baht after offering additional common shares of RS UMG Co., Ltd. to its partner “Universal Music Group (UMG),” the world leader in music-based entertainment. The earnings will be leveraged to build on music businesses and other potential ventures in the future. Meanwhile, the company is in the process of restructuring the businesses specifically those related to music and entertainment, preparing to bring the businesses to enter the Stock Exchange of Thailand in 2027.
Mr. Surachai Chetchotisak, Chief Executive Officer, RS Public Company Limited, revealed: “According to our business plan, we have successfully collected 605.10 million baht from offering RS UMG’s additional shares to Universal Music Group. Moreover, we also found the transaction as a promising opportunity, which will have the following positive results on the expansion of our businesses.
- Accelerating our music business growth, including through music and new content development, in order to further generate greater value from our intellectual properties in the long run
- Leveraging as a source of funding to broaden the company’s investments in future potential ventures.”
Mr. Calvin Wong, Chief Executive Officer, Universal Music Southeast Asia & Senior Vice President of Asia commented: “This has been an extremely successful partnership for UMG so far, and it is a pleasure working alongside our friends at RS Group. We are excited about the potential of the Thai market, and look forward to helping develop it both at home and abroad.”
Under the strategic partnership, RS Music will continue working closely with Universal Music Group to further grow revenue from online contents and to distribute RS Music’s artists and their music works to the global market, while continuing to receive its portion of the proceeds from music copyright management in Thailand, such as the use of music in any events or locations within Thailand. Furthermore, both will partner on a range of future opportunities, including new music releases in the Thai market.
“We are confident that this strategic movement will further strengthen RS Music. Based on our planned business strategies, we are now in the process of adjusting the structure of our businesses specifically those related to music and entertainment. Ultimately, we aim to drive the mentioned businesses to list on the Stock Exchange of Thailand in 2027, as expected,” Mr. Surachai concluded.
For more information and updates from RS Group, please find www.rs.co.th and https://www.facebook.com/RSGROUPOFFICIAL
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