Singapore Press Holdings (SPH) fiscal year's third quarter net profit attributable to shareholders rose 64.3 per cent to US$47.4 million compared with the same period a year ago. This was due to lower impairment charges, the Group said in the results announcement for the third quarter ended 31 May 2018 (3Q 2018) today.
SPH continues to face its digital challenges head on, while making key management appointments to boost its “First to Digital” initiatives, as it seeks to aggressively grow digital revenue. Their promotional efforts in the quarter had good results, as daily average digital circulation copies increased by 121,000 copies from 3Q 2017 to 3Q 2018.
On the digital advertisement front, SPH’s total digital ad revenue is showing good growth and momentum, responding well to the challenge from digital disruptors. The new SMX platform, a data-driven programmatic ad exchange that started operating on 8 May, has been gaining momentum in reaching the Singapore digital population.
Ng Yat Chung, chief executive officer of SPH, said: “As we continue to sharpen our media capabilities in the face of digital disruption, we are seeing early signs of a slower decline of our Media revenue.
“At the same time, we are making efforts to diversify, with new growth thrusts. Our new strategy is to focus on the acquisition of cash-yielding real estate assets overseas. We are also preparing the Aged Care business for overseas expansion.”
More like this
Bauer Media’s weekly fashion title, Grazia, is to publish two split covers to coincide with London Fashion Week. The Big Fashion Issue will see a 50/50 cover run for both newsstand and subscription channels.17th Sep 2018 Industry News
Condé Nast has appointed Will Welch editor-in-chief of GQ. Welch will oversee all content creation, production and consumer experiences for each of GQ’s distribution platforms.14th Sep 2018 Industry News
From 1 October 2018, the Bild Group will use Taboola’s recommendation technology across its digital divisions. Within the scope of a strategic partnership, content recommendations for increasing user activation and retention as well as content marketing campaigns to monetise reach are served on the basis of Taboola’s technology.7th Sep 2018 Industry News
Stefan Seghers has been appointed chief digital officer (CDO) of Roularta Media Group (RMG) from 3 September 2018. Seghers will lead the newly established Roularta Digital hub. Stefan will also be a member of the Management Team and report to CEO Xavier Bouckaert.6th Sep 2018 Industry News
Since its acquisition of Rodale's portfolio of magazine titles in January, Hearst has been experimenting at Pennsylvania-based Runner's World and Bicycling, with new business models, new talent, new paper stock and bigger sizes, as well as proposed redesigns for both titles later this autumn.17th Sep 2018 Features
As South Asia warms up to ecommerce, magazines are getting in on the act. Say hello to mcommerce.10th Sep 2018 Features
The team behind Bauer’s weekly TV listing title TV Choice magazine are to launch a brand new magazine dedicated to the 80s.10th Sep 2018 Launches
A year after its launch Facebook is finally rolling out its new video service, Facebook Watch, across the globe. Yet its expansion arrives at an intriguing time for the video market. There are the first signs that the hegemony enjoyed by YouTube for nigh on a decade is now potentially under threat, not just from Facebook, but from multiple rival platforms.10th Sep 2018 Features
As the flagship title of the Slow Journalism movement, the print magazine Delayed Gratification is often described as a kick-back against the hasty pace in which the 24/7 news cycle hunts clickbait, starts telling stories but often miss the end. But associate and founding editor, Matthew Lee says it’s much more than just that.17th Sep 2018 Features
Visit our Youtube channelFIND OUT MORE
FIPP newsletters allow you to keep up with industry trends, research, training and events across the worldFIND OUT MORE
What’s happening now, what’s coming next