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Ceo's Business Review SINGAPORE PRESS HOLDINGS 12 ANNUAL REPORT 2019 CEO’S BUSINESS REVIEW Over the past FY, we have been constantly innovating and expanding our product offerings and services to acquire and retain customers. NG YAT CHUNG Chief Executive Officer The last Financial Year (FY) has been challenging for SPH. We continued to be impacted by media disruption. Global trade tensions between the United States and China, protests in Hong Kong and risk of a no- deal Brexit weighed on the overall economic outlook and roiled financial markets. in strengthening its fundamentals and seizing growth opportunities for Under such challenging economic transformation. new subscriptions as at 31 August climate, our operating profit 2019, a growth of 8% year-on-year. was S$186.9 million for the year #readwithST Campaign, a movement ended 31 August 2019 (FY2019) as GROWING DIGITAL MEDIA that encourages families to get operating revenue declined S$23.3 together by reading and sharing the million or 2.4% to S$959.3 million. Over the past FY, we have been real life stories in ST which ran for The Group’s net profit attributable constantly innovating and expanding three months, successfully garnered to shareholders fell S$65.2 million or our product offerings and services 6,900 new sign-ups. 23.4% to S$213.2 million. to acquire and retain customers. In March 2019, SPH launched an Despite facing economic The Straits Times’ (ST) premium innovative news tablet app via the uncertainties and technological subscription packages launched Samsung Knox solution for our disruptions to the media business last year continued to gain Chinese news products. With the in the last FY, SPH stayed focused momentum with a total of 23,000 news tablet, subscribers were able SINGAPORE PRESS HOLDINGS ANNUAL REPORT 2019 13 to identify news readers who would likely buy a subscription. A conversion score is generated by taking into consideration several metrics from the users’ actions on our website. This score can then be used to segment these users and present unique experiences on the page as they continue their user journey, so as to increase the conversion rates of those who show a higher tendency to subscribe. Digital media remains on the upswing with newspaper digital ad revenue rising 6% compared to a year ago. We have come up with new initiatives and innovations to drive business value and provide media solutions for customers. A revamped biometric login was A new online ad format called launched for SPH subscribers to “social cards” was launched. A first seamlessly log in on their SPH of its kind in Singapore, it allows any mobile and tablet apps using social media posts to be displayed Touch ID or Face-ID. Users are no as a normal online display ad for longer required to re-enter their brands to extend their reach on passwords for subsequent logins. Facebook and Instagram. The revamped login system resulted in better usability for users and To better monitor advertisers and shortened login time. It also allows sales activities, we adopted the for seamless biometric payment for Salesforce CRM system which mobile ecommerce in future. allowed the sales teams to have a comprehensive view of each The SPH Rewards programme customer and collaboration across launched a mobile app to reward divisions. AdPoint, a sales selling loyal subscribers with exclusive integrated solutions system which to enjoy easy no-login access to benefits and privileges ranging went live in February 2019, helped e-paper editions of Lianhe Zaobao, from retail giveaways to wellness staff to take in bookings for all four Lianhe Wanbao and Shin Min Daily getaways. platforms. It is linked to Salesforce News, which would be updated to monitor sales activities, as well automatically daily. The device We also strengthened our vending as to integrate with the pagination allows users to read in an offline machine network with an additional and scheduling systems for print and mode and encourages social 65 machines this year. Readers digital platforms. sharing. A total of 10,000 subscribers can now purchase one of our daily signed up for this package as at newspapers from any of the 115 The Agency Self-Service Portal mid-October 2019, a record high machines that are conveniently (Addy), launched in July 2019, was for digital packages for Chinese located island-wide. conceived to consolidate the many publications. There are plans to sales systems and sites that our roll out our news tablets to other SPH is now developing a agency partners access on a daily newspaper titles in the new FY. subscription propensity model basis. They can access Addy for SINGAPORE PRESS HOLDINGS 14 ANNUAL REPORT 2019 CEO’S BUSINESS REVIEW all matters relating to ad booking, from Google to build its podcast bidding for premium advertisement infrastructure, split equally between EMTM’s social media positions and packages, transmission EMTM and the Chinese Media continued to grow of materials, finance / accounts, Group (CMG). EMTM’s social media rate cards, latest promotions and continued to grow with Instagram Instagram followers campaign brief templates. followers surging from 103,000 in surged from 103,000 in May 2018 to more than 217,000 in May 2018 to more than Transforming newsrooms August 2019. Facebook followers grew from 1.2 million in 2018 to 1.3 217,000 The newsrooms at English, Malay million in August 2019. in August 2019 and Tamil Media (EMTM) Group underwent significant physical and Berita Harian (BH) is forging ahead organisational revamps to meet as the voice of the Malay community Facebook followers grew the new demands of consumers. and the go-to platform for from 1.2 million in 2018 to The new set-up allows journalists Singaporean Malays. Its podcast series 1.3 MILLION and editors from different desks #NoTapis climbed to No.3 on Spotify in August 2019 to collaborate and work more within 2 months after launch. BH is seamlessly across platforms, also gearing up for a website and app producing content for digital, mobile, revamp at the end of the year. video, radio and print products. Tamil Murasu (TM) refreshed its CMG restructured its newsrooms EMTM podcasts’ monthly downloads digital identity and unveiled a new last year, embedding digital rose from 5,000 in October 2018 website in January 2019. The site’s capabilities into the core of its to over 20,500 in July 2019. SPH user base grew more than threefold Lianhe Zaobao and Lianhe Wanbao secured US$100,000 in funding (to about 63,000) and pageviews NewsHub workflow to facilitate increased more than fourfold (to digital content creation across desks about 240,000) between September and drive audience-centric content 2018 and July 2019. development and delivery. CMG also set up an Audiences Development team to grow new audiences and deepen audience engagement across its platforms. CMG was the sole winner from Singapore in the first Google News Initiative (GNI) Asia Pacific Innovation Challenge, which aims to support digital innovations and new business models in news organisations. Zaobao.sg explored different storytelling elements and new interactive techniques to engage readers. It developed memorable characters in “Ah Boy & Friends”, a short-form video series to highlight Singapore’s customs and traditions, and used 3D technology to create a virtual museum in “Treasures Before Us”, a video series which mark Singapore’s Bicentennial. In the era of fake news, our customers while logged into their journalists continued to produce Wi-Fi network, had since been quality journalism and trusted rolled out successfully in Singapore, media products, sweeping local and Malaysia, Indonesia, Thailand and global accolades for their editorial the Philippines. excellence. The Straits Times Asia Report bagged two top honours at More listeners on digital radio the prestigious International News Media Association (INMA) Global Audiences are spending a longer Media Awards 2019. Our financial time listening to SPH Radio, and BOOSTING PRINT journalists from Lianhe Zaobao and more of them are tuning in digitally. TECHNOLOGY The Business Times also clinched The five radio stations maintained awards for excellent reporting at the their overall share of audience in The new Digital Inkjet Press System SIAS Investors’ Choice Awards 2018. the first half of 2019, based on at Print Centre enabled SPH to the findings of Nielsen radio diary expand its print capabilities beyond Innovative initiatives survey. The half-yearly survey, newspaper production to include from magazines which measures the listenership of digital print solutions for SPH’s traditional analog radio stations, also internal products, advertisers and Our magazines have also been showed that audiences are tuning in brand owners. developing digital media content. to SPH Radio’s stations for a longer For example, Augmented Reality duration each time. The new digital press provided (AR) technology was used in Nuyou greater content customisation magazine for a more immersive SPH Radio’s listenership continued across text, graphics and images storytelling. Brand Lab, SPH to expand at a healthy rate. Analytics and delivered more targeted ads to Magazine’s in-house boutique tracked by SPH showed that most of readers via personalised messages, content agency, was repositioned to its stations registered double-digit wraparound and unique codes. deliver more video-centric solutions growth in digital audiences over the for advertisers. last half-year in 2019. More than In terms of cost savings, the 890,000 people tuned in digitally manpower requirement to operate SPH Magazines also continued to through either the SPH Radio app the digital printing system is around expand its distribution networks or website to at least one of SPH’s 35% as compared to that of a single and platforms for retaining existing radio stations in May 2019, up 10% newspaper press.
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