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Singapore Press Holdings loses 25% in profits, launches $80m New Media Fund

Scrooball (clone)

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Singapore Press Holdings (SPH), the country’s largest newspaper publisher, announced that its net profit has fallen 25 percent to S$431 million ($346 million) from the previous financial year. The steep drop-off is partially due to a decline in its print publication and advertising businesses:

While SPH’s magazine and newspaper revenue — which includes income from print ads — fell only by a single-digit percentage from the previous year, the loss still amounted to S$40 million ($32 million). A larger chunk of the Group’s profit evaporated due to a decline in investment income, rising operating expenses, and increased marketing spending for its online businesses.

Although SPH’s print division has been resilient compared to Western counterparts in the face of changing media consumption habits, its newspaper readership has in fact been slowly declining since its peak in 2009.

As readership decreases, SPH’s startup activity could rise

In this environment, SPH CEO Alan Chan’s announcement of a S$100 million ($80 million) fund, which will invest in media-related businesses, is hardly surprising. While details are scarce for now, it’s likely that Singapore-based and regional media-related startups, a rather vague categorization, will benefit.

In fact, SPH has already sunk money into a number of online businesses. This year, it acquired Singapore’s top car portal sgCarMart for $48 million and also invested $1.45 million in restaurant reservation site Chope. This is its second wave of investment activity — it acquired fuckwarezone for $4.5 million in 2006 and ShareInvestor.com for $12 million in 2008.

A possible move for SPH would be to replicate MediaCorp, another prominent Singapore media player, by funding e-commerce businesses. With both online and offline traffic as its biggest asset, SPH would be in position to drive referrals to generate online consumer purchases, blurring the line between editorial work and online retail. Already, SPH Magazines has a close working relationship with one such startup: Carousell, a Singapore-based mobile marketplace app.

Given the potential benefits that startups might reap from SPH’s eagerness to invest — and it may grow more enthusiastic if its print ad revenue continues to fall — the Group’s financial performance is surely the indicator to watch if you’re running a media-related business.
(Editing by Josh Horwitz and Paul Bischoff)

The post Singapore Press Holdings loses 25% in profits, launches $80m New Media Fund appeared first on Tech in Asia.
 

winnipegjets

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SPH has a monopoly market, yet it can't garner monopolistic profits. That shows how inept sinkee business leaders are.
 

laksaboy

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And that is why SPH is so desperate for people to subscribe to its shitty papers.


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SadPlumpGirl

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Ha ha ha............ Agree!
Peasant want to see press freedom. Dare to ask question regardless ruling party or opposition party.

All these clowns in SpH senior management also know the problem. No one dare to voice out cos their rice bowls are at stake.

PAP behaves like an Emperor. SPH the eunuch saying things that PAP wants to hear only.

wah lao...we all know.
 

johnny333

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My issue with the local media is that I don't want to pay for propaganda. Over the years the cost of this propaganda has also gone up.

The only thing I miss are the comics:biggrin:
 

SadPlumpGirl

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My issue with the local media is that I don't want to pay for propaganda. Over the years the cost of this propaganda has also gone up.

The only thing I miss are the comics:biggrin:
Now you dont have to pay. Today newspaper is free. Slotted at your gate door every morning. Govt controlled media getting desperate. ... :biggrin:
 

jw5

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After launching New Media Fund, they might want to consider launching New Media Shield and after that, New Media Save.
 

lee6100

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In this environment, SPH CEO Alan Chan’s announcement of a S$100 million ($80 million) fund, which will invest in media-related businesses, is hardly surprising. While details are scarce for now, it’s likely that Singapore-based and regional media-related startups, a rather vague categorization, will benefit.

In fact, SPH has already sunk money into a number of online businesses. This year, it acquired Singapore’s top car portal sgCarMart for $48 million and also invested $1.45 million in restaurant reservation site Chope. This is its second wave of investment activity — it acquired fuckwarezone for $4.5 million in 2006 and ShareInvestor.com for $12 million in 2008.


These investments are mainly Singapore based. Won't make much money. SPH is still playing in its own backyard, unable or unwilling to get out of its comfort zone.
 

blissquek

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Now you dont have to pay. Today newspaper is free. Slotted at your gate door every morning. Govt controlled media getting desperate. ... :biggrin:

I was very surprise when I went to the flea market at China Square last Sunday.

Two stalls were displaying copies of the latest LKY book and were offering them at $28..

I was wondering why people discard this book by an iconic leader...and offering these for sale at flea market.
My frd who is a teacher said he was given a copy of LKY book, the Chinese version and he threw it away.
He finds LKY to be repulsive and hate him for closing down Nanyang university.

Has this man garnered so much hate..????

Previously, when I was in school, I gave a rating of 95 marks..

Now, as I grow up I read about what he did...Like throwing his opponent into jail for 32 years and the like of Dr. Lim hock siew , the Cold Storage operation, I begin to respect him less.

Now I give him 60 marks...
 

SuayCheeBye

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I was very surprise when I went to the flea market at China Square last Sunday.

Two stalls were displaying copies of the latest LKY book and were offering them at $28..

I was wondering why people discard this book by an iconic leader...and offering these for sale at flea market.
My frd who is a teacher said he was given a copy of LKY book, the Chinese version and he threw it away.
He finds LKY to be repulsive and hate him for closing down Nanyang university.

Has this man garnered so much hate..????

Previously, when I was in school, I gave a rating of 95 marks..

Now, as I grow up I read about what he did...Like throwing his opponent into jail for 32 years and the like of Dr. Lim hock siew , the Cold Storage operation, I begin to respect him less.

Now I give him 60 marks...

He deserve only 15 marks dude.
 

halsey02

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My issue with the local media is that I don't want to pay for propaganda. Over the years the cost of this propaganda has also gone up.

The only thing I miss are the comics:biggrin:

They did not pay for most of the comics...even that is 3/4 missing nowadays...There good writers for the Shit Times back in the early days, I remember I used to enjoy the movie reviews by a Caucasian woman who wrote for them, her reviews were independent & good & was it Jeff Loh or Jeffery?? the one that writes on horse racing?. Even though I do not gamble or even watch horse racing...I regularly read his comments & learn a lot about horse racing.

These are the informative read from the newspaper, even the book reviewers & there these social commentators etc...remember we used to have The Singapore Herald, the forefather of The New Paper..which had became a crappy tabloid, in which I have not bought a copy for ten years.

I buy the shit times on certain days..especially not on Monday...go discover why!...& wonder why I pay $1 on saturday, when 3/4 of the papers I don't even open, they go straight to the pile, in which I use to line the floor for my dog waste disposal.

Why I still buy the newsprint...guess it is an old habit of flipping through newsprint in the morning...over a cup of coffee, the digital print does not have that... the younger ones will differ, they grow up in a different time.

Other than that..it is a shit paper, full of telling you stories & modifying the truth.
 

greenies

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After launching New Media Fund, they might want to consider launching New Media Shield and after that, New Media Save.

Ha ha... similar to Medifund, MediShield, MediSave....
They only know how to create names. And throw away lots of tax payer money.
For instance, spent $650k to name Marina Bay to Marina Bay, also a good name for famous budget terminal (generic name) etc.
 

Confuseous

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In this environment, SPH CEO Alan Chan’s announcement of a S$100 million ($80 million) fund, which will invest in media-related businesses, is hardly surprising. While details are scarce for now, it’s likely that Singapore-based and regional media-related startups, a rather vague categorization, will benefit.

In fact, SPH has already sunk money into a number of online businesses. This year, it acquired Singapore’s top car portal sgCarMart for $48 million and also invested $1.45 million in restaurant reservation site Chope. This is its second wave of investment activity — it acquired fuckwarezone for $4.5 million in 2006 and ShareInvestor.com for $12 million in 2008.


These investments are mainly Singapore based. Won't make much money. SPH is still playing in its own backyard, unable or unwilling to get out of its comfort zone.

Only a bunch of eunuchs will pay $48million for SG Carmart - how long will it take to bring back revenue of that amount, let alone start being profitable?
Meantime, the classifieds guys in the brothel are reportedly unhappy and not co-operating exactly because they feel that if THEY had been given 10% of that, they would have done a better job.

Shareholders get screwed again.
 

johnny333

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They did not pay for most of the comics...even that is 3/4 missing nowadays.......


I grew up reading the Strait Times. Back then there was only 1 section.
I would start by reading the comics, then the TV page, then the funny stories like the molest cases or fights started by some aquas :smile:

I would ignore most of the front page because it would always be PAP propaganda. :biggrin:
 

Confuseous

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SPH has a monopoly market, yet it can't garner monopolistic profits. That shows how inept sinkee business leaders are.

Even with a significantly enhanced English-speaking population from India and Pinoyland, their print circulation is still going down, 3.9% in revenue. They claim an increase in circulation but dare not to give breakdown between print and internet subscriptions. Comparison of paper costs in the report tells you there is nothing worth talking about.

They even resorted to selling NEWPAPER for 50 cents for about 10 days. And running all sorts of promotions which requires you to buy everyday.

And of course, advertisers may not realise that a percentage of newspapers are actually distributed to schools.

A national disgrace - the only newspaper group in the world with monopoly having to resort to cheap promotions.
 
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