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Yeah1 Group (YEG) reports surge in revenue, profit
Yeah1 Group (YEG), Viet Nam’s first listed media company, announced growth was strong in the third quarter, including in foreign markets.
Revenues during the quarter jumped by 111 per cent year-on-year to VND378.5 billion (US$16.24 million).
Net profit was VND44.89 billion ($2.71 million), a 187 per cent rise.
In third quarter, revenues were worth over VND1 trillion or ($44.41 million), a 110 per cent increase.
The company said revenues from traditional media saw growth of 50.9 per cent in the third quarter as a result of higher inventory sales and a number of strategic agency contracts with larger TV channels in Viet Nam.
Revenue from digital media was up 179.3 per cent on the back of a larger number of views, higher proportion of views and continued optimisation of existing and new premium contents.
During the quarter the company announced the launches of the Universal Music TV Channel in Viet Nam and SGO48, an idol group in partnership with AKS Japan.
Founded in 2006 Yeah1 Group has enjoyed phenomenal success across verticals and media channels to become a top-ranked multi-channel network in Asia.
The company is now expanding its digital arm into the region and beyond. It operates a range of divisions, leveraging its massive community to build its movie, television, digital and publishing businesses.
It listed on the HCM Stock Exchange last June.
bizhub
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