Vision New Media Sdn Bhd (VNM) expects its revenue to double to more than RM40mil in its financial year ending February 2006, from an estimated RM20mil in the current year, on the strength of its broadcast division.
VNM, with a staff strength of 250, is an integrated media group involved in the distribution, production, post-production, animation and interactive services.
The business required heavy investment but had low profit margins, chief executive officer Low Huoi Seong told StarBiz.
And given the Malaysian market was inadequate to nurture the media content industry, the company had expanded its products and services to reach a wider audience in other parts of Asia.
VNM has so far tied up with major US networks and studios such as Warner Bros, ABC Cable, CBS Inc, Buena Vista/Disney, Sony Columbia International Television, and International Broadcast Inc.
In Asia, it has worked with Channel (V) International, Star TV, Nickelodeon, Rajawali Citra Televisi Indonesia, PT Indosiar Visual Mandiri, Mediacorp Singapore and Becker Entertainment.
VNM also represents independent producers from Europe and Canada.
“Some of these relationships will be kept at a project level which sees us co-owning and co-producing a certain programme. Some of these relationships will grow into corporate alliances from this year onwards. They could be separate joint ventures or cross holdings,” Low said.
He added that the company was in talks with Mediacorp Singapore on a new strategic alliance.
The company, which distributes TV content to 17 countries in Asia, has sought to differentiate itself through production value and market scope.
“My focus is on Asia,” Low said. “In five years, I expect VNM to become Asia’s leading content provider.''
VNM signed a deal in Kuala Lumpur yesterday with Asia’s leading multi-platform content and service provider STAR to produce a 90-minute Mandarin tele-movie. – By Yeow Pooi Ling