Media Prima (MPR) announced a rebranding of its radio segment Media Prima Radio Networks to Ripple – a digital media, broadcast, and commerce company, and launched seven new digital assets – Lunaria, Dhia, Donna, The Laki, Likely, Wakeke and Chapters.
MPR’s new assets aim to exploit gaps in its broadcasting audience by offering customized solutions for advertisers to reach a specific target market through content, talents, experiences and platforms. The target markets for the brands under Ripple are as follows:
We are cautiously optimistic on this development as we note that the new digital assets are expected to break even in their second year of operations.
We maintain our HOLD recommendation on MPR with unchanged forecasts and fair value of RM0.47, pegged to an FY19F PB of 0.7x. Despite improvements in its digital and commerce segments, the operating environment for its print and TV segment remains challenging amid the continuous decline in newspaper circulation and uncertainty surrounding the analogue switch-off.
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