Revising revenue models, improving efficiency among Media Prima’s transformation steps

by BERNAMA/ pic by TMR FILE

MEDIA Prima Bhd expects the current challenges in its operations to persist in the coming months.

Its chairman Datuk Dr Syed Hussian Aljunid in a statement today, said the integrated media group will continuously review its operations and adapt to ensure sustainability.

“The COVID-19 pandemic and the resulting Movement Control Order (MCO) to curb its spread have disrupted so many businesses over the last few months.

“Nonetheless, Media Prima has focused its efforts to mitigate the impact of the pandemic and tougher operating environment,” he said.

Meanwhile, group managing director, Datuk Iskandar Mizal Mahmood said the company has expedited its next transformation phase by revising revenue models, improving costs and operational efficiencies, while delivering more effective solutions across its media platforms.

“The transformation aims to make our business more robust and sustainable, and to continue delivering the best for our audience, advertisers and partners.

“Overall, 2020 will be an exciting year for Media Prima as many changes and improvements will be made from a structural, operational, and capacity perspective,” he added.

The group posted a net loss of RM27.252 million in the first quarter ended March 31, 2020 against a net profit of RM38.858 million in the previous corresponding period.

Revenue decreased to RM238.436 million from RM239.102 million.

Media Prima said all its resolutions were passed by shareholders during its 19th Annual General Meeting held today.