SINGAPORE - Singapore Press Holdings will continue to invest in transforming the media business to keep up with changing consumer habits, especially with the coronavirus pandemic's impact on the business.
"As a result, our media business faced a steady decline in both print advertising and print subscription revenue. And these are traditionally our largest revenue and profit drivers. The Covid-19 pandemic this year has further exacerbated these challenges." "Many shareholders have asked about the SPH plan to list our PBSA assets. We are always considering and looking out for opportunities to improve shareholder value. The listing of our PBSA is a possibility. But an announcement will be issued by the company only in the event there is a material development on the matter," he said.
SPH had replied then that it regularly evaluates all opportunities across its portfolio, which may from time to time involve discussions with various parties and stakeholders. It added that there is no assurance that any transaction will materialise or that any definitive or binding agreement will be reached. It will make further announcements as appropriate, in compliance with listing rules.
He noted that efforts have translated to growth in digital circulation, as well as digital advertising revenue over the last few years, even as the firm continues to try to stem the decline in print. Video analytics, such as tracking algorithms, also help to examine the traffic in front of outdoor advertising screens so campaigns can be better designed for advertiser returns.
What about first transforming the top management...having a paper general who have proven to possess poor management vision and strategic insight...
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