PETALING JAYA: Star Media Group Bhd (SMG) has announced a net loss of RM14.2mil for the first quarter ended March 31,2021 from RM3.9mil reported in the same quarter a year ago. “However, we saw a growth in Star’s digital revenue of 17% against last corresponding quarter, which was mainly attributable to the increase in the digital advertorial, growth marketing and paywall subscription revenue, ” SMG said in a filing with Bursa Malaysia. Business and consumer behaviours remain uncertain but the group has taken drastic measures to contain the impact, ” SMG said. SMG group CEO Alex Yeow on Monday said that going forward, the group aims to have 30% of its revenue come from new businesses that may be related to property or digital products. “Going forward, we want to change this to 40% (newspaper-related); 30% (segments such as radio and events); 30% (diversification into new businesses).

Source: The Star May 25, 2021 09:11 UTC