Yeah1 Group Corporation (YEG) is targeting revenue growth of over 35 per cent to reach VND425 billion (US$18.2 million) in 2023.
The announcement was made at the company’s annual general meeting of shareholders where they also set a target of reaching a profit after tax of VND30 billion ($1.3 billion), which would be a surge of 21 per cent year-on-year.
To reach the target, Yeah1 will continue to invest and expand their core business segment.
Specifically, the business of television and premium content will be further developed. The company will continue to build and maintain its leading TV channels in Viet Nam by improving content quality and diversifying TV programmes and movies to suit the vast majority of viewers of many age groups, regions and interests.
In 2023 and the following years, Yeah1 will introduce large, attractive and impressive TV shows to Vietnamese audiences.
The other core business is producing and publishing content on social platforms. This business is forecast to further develop in the coming time as the company has diversified digital content across platforms. The corporation has continued to co-operate with producers from foreign markets, bringing content that has been successful in Viet Nam to expand to the markets of regional countries.
Yeah1 said it will continue maintaining and developing the operations of Netlink VN through management consulting, operational enhancements, customer acquisition strategies, market expansion, and new product development.
Following the initial successes of its shoppertainment business, the Corporation continues to make robust investments to enhance its capabilities in the realm of shoppertainment.
Advertising consultancy and event management services is also a key business, which has been making significant contributions to the corporation's revenue and profitability.
Recognising the need for substantial investment and compliance with international standards in terms of equipment and infrastructure for high-quality program production, Yeah1 has been working with several partners to undertake the construction of a complex studio-filming location to serve the diverse purposes of the corporation. The corporation expects that within the next 18 to 24 months, the project will be completed and serve as a focal point in the corporation's development, a shared home for shareholders and generations of employees, and a platform for achieving even greater accomplishments in the future. — VNS