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FY15 Financial Briefing 11 March 2016

FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

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Page 1: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

FY15 Financial Briefing

11 March 2016

Page 2: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 2

Forward-Looking Statements

This presentation was made from the analysis of reliable information in order to assist investment community to better understand the company's financial status and operation. The presentation may contain forward-looking statements and comments on future events, including our expectation about GMM Grammy’s business.

However, the information within this presentation has been derived from the existing factors in the present time. Therefore, the forward-looking information on this presentation may not occur in the future if the aforementioned factors or situations are changed. Investors are, however, required to use their own discretion regarding the use of information contained in this presentation for any purpose.

For further information, please contact

Investor Relations of GMM Grammy Public Company Limited at Tel: (662) 669-9936, (662) 669-9952, (662) 669 8071 or Email : [email protected]

Page 3: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 3

2015 Key Achievements

Digital TV Update

Financial Performance

Page 4: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 4

Digital TV Update

2015 Key Achievements

Financial Performance

Page 5: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 5

Business Overview

Music Music & Distribution

Digital Business

Concerts & Showbiz

Music Publishing

Artist Management

GMM Channel

Digital Terrestrial TV (Standard Definition)

TV Production & Copyrights (GMM TV – Dee Talk)

Radio & Showbiz (Atime Media)

ONE Channel TV Production & Copyrights

(Exact – Scenario - Meemiti - Teentalk)

Digital Terrestrial TV (High Definition)

Acts Studio

Movie & Others GDH 559 (Formerly GTH)

Home Shopping

Satellite Broadcasting

Call Center Service

GMM Grammy is a leading content provider in fully integrated media and entertainment platforms who can produce and deliver high quality contents with the broadest reach

GMM Grammy’s Business comprises of:

Core Business

Page 6: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 6

Key Highlights & Achievements

The Leader in Thai Music Industry - 299 singles - more than 370 albums - 22 concerts

Outstanding Improvement in Digital TV channels

Rating growth*: 170% (from Beginning of 2015) Revenue growth: 1,341%

Rating growth*: 228% (from Beginning of 2015) Revenue growth: 760%

* Source : AC Nielsen, 2015 Channel Rating for Total Individuals 4+ All time 06:00 - 23:59

Page 7: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 7

Key Highlights & Achievements

Honored ‘Nataraj Award’ for Superb Quality program and production

Thailand Box Office Movies

‘Freelance’ THB 88 million

‘May, Who?’ THB 75 million

Best Entertainment Radio Station ‘Green Wave 106.5 FM’

Best DJ ‘Chill FM 89’

Best Series ‘Club Friday the Series 5’

Page 8: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 8

Key Highlights & Achievements

Top 2 GMM Channel in YouTube Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank #77

Source: socialblade.com as at 3 Mar 16

Top YouTube Channels in Thailand (by most viewed)

Page 9: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 9

Key Highlights & Achievements S

ea

rch

es

• เชอืกวเิศษ

• รกันะเป็ดโง ่

• เพือ่นเฮีย้นโรงเรยีน

หลอน

•ทิง้ไวก้ลางทาง

• สดุแคน้แสนรัก

•สงครามนางงาม

• เพลงขดัใจ

• ขา้บดนิทร ์

• แอบรักออนไลน ์

• ตดัพอ้

So

ng

s o

f 2

01

5

• เชอืกวเิศษ

•ทิง้ไวก้ลางทาง

• เพลงขดัใจ

• ตดัพอ้

• กาโว

• ไสวา่สบิถ่ ิม่กนั

• See You Again

• ไมเ่คย

• ใจหมา

•คูช่วีติ

TV

Sh

ow

s

• รกันะเป็ดโง ่

• เพือ่นเฮีย้นโรงเรยีน

หลอน

• สดุแคน้แสนรัก

•สงครามนางงาม

• ขา้บดนิทร ์

• แอบรักออนไลน ์

• ลมซอ่นรัก

•น้าํตากามเทพ

• นางชฎา

•บลัลงักเ์มฆ

Source: www.google.com

Page 10: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 10

Key Highlights & Achievements

Good Corporate Governance Rewarded ‘Excellent or Five 5-Stars’ from the Thai Institute of Directors (IOD) for a fifth consecutive year

Fast growing Home Shopping ‘O Shopping’ Business - Revenue growth of 53% YoY - No. 2 Home Shopping in Thailand

Page 11: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 11

Digital TV Update

2015 Key Achievements

Financial Performance

Page 12: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 12

Revenue Structure by Type of Business

Remark: *Others consist of Movie, Home Shopping and Miscellaneous

Growing Digital TV Footprint

Strengthening Music Leadership

Game-changing the Industry with Total Media Solutions from Group Synergy

Strategic Highlights

7,480

7,911

2014 2015

Operating Revenues excl. ONE

5.8% Y-o-Y % Growth

Music, 32% Music, 37% Music, 38%

Media, 25% Media, 17% Media, 11%

Satellite, 16% Satellite, 6%

Satellite, 5%

Others, 26%

Others, 29% Others, 28%

Digital TV, 1% Digital TV, 11% Digital TV, 18%

2014 2015 2016 (Projected)

Page 13: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

886 1,244

194

220 91

127 456

707 803

741 375

160

FY14 FY15

Others

Physical

Digital

YouTube

Copyright

Showbiz

14.4% Y-o-Y % Growth

- Underlying the growth of music group in 2015 was fuelled by digital music marketing with higher contribution from SMS service Song2U, while YouTube viewers and revenue sharing for music & non-music contents kept rising with a total of THB 195 million for 2015 - Showbiz performed extra well with high activities all year round totaling 22 concerts including major events i.e. Jim Lai Music Festival 2, Big Mountain Music Festival 7, and Gannes Film & Music Festival 6. Artist management revenue also grew from more events organized this year - Physical sales dropped with a total number of 299 singles and 370 albums released this year

138 153 166

430 434 234 164

411 46 45 48

55 55

56 54

55

18 31

37 21

27 37

42

114 119 115

108 171

175 196

164

185 181 199

238 210

208 155

169

117 80

28

40 7

20

16

14

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15

GMM GRAMMY PUBLIC COMPANY LIMITED 13

Financial Performance

Music & Digital 2015 Turnaround Revenue Growth

THB 3,252 Million FY15 Revenue

14.4% 3,252

2,843

Page 14: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 14

50.1%

Y-o-Y % Growth 0.3%

2Q15 Normalized Consol ONE

- Revenue for ONE digital TV continue to grow with top-rated series of Prime time drama on air i.e. “Hormone3 – The Final” with line-ups of exclusive contents for early primetime and mid-day primetime to expand the “modern mass” target audience in urban and regional area together with seasonal programs and live sport events coming up

- Normalized FY15 revenue incl. the deconsolidated One Enterprise resulted in 0.3% revenue improvement

- Revenue stream from analog free TV platform decreased in accordance with the transition towards digital free TV platform. In segmental reporting remained only financial figures of EXACT business unit holding the library and copyrights of TV contents prior to the shareholder restructuring, which was impacted from migrating most TV contents to digital platform

Financial Performance

Digital TV – GMM ONE 2015 Gearing towards Top-notch DTT Channels

THB 687 Million 50.1% FY15 Revenue

3Q15 Normalized Consol ONE

4Q15 Normalized Consol ONE

354 351

248 181

73

218

98 153

41 42 42

47 49

44

27

21

18

18

20

20 7 7

30

42

125

245 322 360

1Q142Q143Q144Q141Q15 2Q15 3Q15 4Q15

1,378

687

1,381

1,134

486 253

171

75

75

73

125

1,052

FY14 FY15 FY15 Normalized

ONE DTV

Others

Free TV

Page 15: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

0 1 4 44 44 104 106

159 90

159 149 151

100

100 103

122

112

143 188 203

128

153 166

153

28

15 29

39

64

40 17

17

53

5 35

17

19

13 13 10

1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15

GMM GRAMMY PUBLIC COMPANY LIMITED 15

Financial Performance

Digital TV – GMM 25 2015 Gearing towards Top-notch DTT Channels

- Ramp-up revenue for Digital TV GMM25, with rising trend after the launch of new programs in prime-time slots. By seamlessly exposing contents to reach out the targets through an integrated approach, the channel brand was strengthened with a sharp increase in audience base and ratings - GMM25 got a highly positive response from media agency and customers as the most preferred channel to engage new generations effectively and efficiently - Atime showbiz continued to grow strong from distinctive formats and concepts underlying each concert theme with unique selling points

- Revenue from radio media dropped 7.2% Y-o-Y in line with declining media industry spending

- Satellite-FreeTV revenue declined from previous year, following the industry transition towards digital TV

FY15 Revenue THB 1,680 Million 6.4% 6.4% Y-o-Y % Growth

48

413 549

425

647

600

112

138 223

103

FY14 FY15

Others

Showbiz

Radio

Free TV

GMM 25 DTV

1,680 1,578

Page 16: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 16

Financial Performance

Home Shopping

- Strong growth driven by increased lines of products and series of promotion and value-for-money campaigns throughout the year especially during the last quarter festive season targeting virtually all prospects via TV O-shopping, online shoppers, and mobile applications, all of which positively accepted by the market

- In 2016 O-shopping planned to emphasize on product TV showcase with frequent and hot promotions, in parallel with expanding the broadcast over multi-platforms to reach out consumers at the right time and place, as well as partnering with digital TV to promote home shopping

2015 High Double Digit Revenue Growth

FY15 Revenue THB 1,738 Million

- Differentiate with variety of products

- Expand through internet channel

- Daily sales average at 5.3 MB in 2015

- Regulatory spotlight and supporting policy

53.1%

Page 17: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 17

Financial Performance

- Two movies released in 2015. “Freelance” generated box office revenue by THB 88 million together with substantial copyrights revenue in ASEAN market. During the last quarter, “May Who?” generated box office revenue by THB75 million. 2015 revenue dropped 5.3% in line with overall local film industry got impacted from political unrest, economic recession and strong competition from Hollywood blockbusters. In 2016 the Company planned to continue the investment in series production for digital TV and Line TV

- The suspension of GTH operation was announced this year but no material impact was resulted. Upon the beginning of 2016, GMM Grammy partnered with Hub Ho Hin group to establish the new film company “GDH 559”

- Approximately 0.65 million units were sold in 2015, dropped by half from last year mainly due to the economic slowdown with suspended consumer purchase decision following confusion on digital TV subsidy vouchers, altogether caused the entrepreneurs to miss sales target despite aggressive promotions to clear aging stocks and launch new product series with increased performance i.e. Mini Gold to add value and meet consumer demand - Overall set-top-box business was expected to rebound in 2016 from major sports league including World Cup and Euro football championship

Satellite TV Platform Movies & Others

63.3% FY15 Revenue

THB 850 Million FY15 Revenue

THB 391 Million 5.4%

Page 18: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

2,679.6 2,760.2

299.5 129.0

815.2 638.9

0.0

500.0

1,000.0

1,500.0

2,000.0

2,500.0

3,000.0

3,500.0

4,000.0

2014 2015

Mill

ion T

HB

Admin.-Normal Business Extraordinary items Selling and servicing expenses

GMM GRAMMY PUBLIC COMPANY LIMITED 18

SG & A Expenses

1 Extraordinary Items includes write-off of obsolete assets, allowance for impairment loss on asset

3.0%

21.6%

% SG&A to total revenue (Normal) 38% 35%

Page 19: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 19

Profit & Loss Statement

2014 Extraordinary items + Sales of OFM shares 147 - Write-off of obsolete assets (300) and allowance for impairment loss on asset - DTV license adjustment (98)

2015 Extraordinary items + Sales of LT investment 70 + Divestment of Event and 158 Publishing business + Deconsolidated One 731 - Loss of CTH impairment (1,030) - Allowance for impairment (129) loss on asset - DTV License adjustment (57)

Period as of 2014 2015

Financial Data (THB mm)

Sales 8,857 8,598

Total Revenue 9,264 9,704

Cost of sales and services 6,223 5,743

Gross Profit 2,634 2,855

SG&A 3,794 3,528

Loss of CTH impairment - 1,030

Net Profit attributed to Equity holders

(2,413) (1,146)

- Discontinued operation (1,229) -

- Continuing Operations (1,184) (1,146)

Exclude Extraordinary items (251) (257)

Normal Net profit (1,031) (889)

Exclude Loss of One Entreprise (443) (613)

Net Profit exclude One Enterprise

(588) (276)

Page 20: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 20

Strong Financial Position

Financial Position Interest Bearing Debt (IBD) Ratio and Total Cash on Hand

Assets Liabilities Equities IBD

Note: Total cash on hand = Cash and cash equivalents + Current investments i.e. Fixed deposit, Trading and Debt securities

11,711 10,821

11,894 12,604 12,180

16,301 15,950

14,461

11,596

10,136 9,776

7,590 7,795 6,942

7,391 8,627 9,007

14,145 13,918

10,977

7,660 6,364 6,115

5,556

3,916 3,879 4,503

3,977 3,173

2,157 2,032

3,484 3,936 3,772 3,661

2,034

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15

5,093 6,442

6,481

4,319

2,815 2,228 2,100 3,678 3,016 3,340

4,699

1,514 1,014 3,348 3,719 2,197 2,884 3,284 1,940 1,847 1,334 1,264 1,235

0.94 0.78 0.74

1.18 1.61

2.99 3.19

1.24

0.72 0.59 0.57 0.80

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15

Cash IBD: Equity

1,629

Page 21: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 21

Digital TV Update

2015 Key Achievements

Financial Performance

Page 22: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 22

Digital TV Business CELEBRATE LIFE IN STYLE EVERYDAY Smart and Stylish

“Yours ONE…All Day, Everyday” “Hits Drama on Air at ONE”

Drama / Series

Current Magnet programs

Sitcoms

TVR 3.18

TVR 2.39

TVR 2.37

TVR 1.88

Source : AC Nielsen

TVR 1.27

TVR 1.39

TVR 2.19

Page 23: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 23

Digital TV Business CELEBRATE LIFE IN STYLE EVERYDAY Smart and Stylish

“Yours ONE…All Day, Everyday” “Hits Drama on Air at ONE”

Game show / Variety Show

Current Magnet programs

News TVR 1.94

Source : AC Nielsen

Page 24: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 24

Digital TV Business

Current Magnet programs

Sincere and Sassy “FUN EVERY DAY, TOGETHER ALL THE TIME”

“Entertaining Drama & Great Fun premiered at 8 pm”

News

Source : AC Nielsen

Drama / Series

TVR 0.75

TVR 1.16

Page 25: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 25

Digital TV Business

Current Magnet programs

Sincere and Sassy “FUN EVERY DAY, TOGETHER ALL THE TIME”

“Entertaining Drama & Great Fun premiered at 8 pm”

Game show Reality / Variety

Page 26: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 26

Advertising Expenditure 2011-2015

62,238 68,105 69,249 79,590 84,511

42,516 45,840 43,848

38,774 37,808

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2011 2012 2013 2014 2015

TV Advertising Non TV Advertising

104,754

113,945 113,097 118,364

122,319

Source : Advertising Association of Thailand & AC Nielsen

Page 27: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 27

Development on TV Advertisement

100% 100% 100%

80% 68%

11% 25%

9% 7%

0%

20%

40%

60%

80%

100%

120%

2011 2012 2013 2014 2015 Analog TV Digital TV Cable & Satellite

Source : Advertising Association of Thailand & AC Nielsen

Page 28: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 28

Trend of Digital TV : Analog TV vs Digital TV

100%

91% 88% 87%

80% 76%

71% 69%

0%

9% 12% 13%

20% 24%

29% 31%

0%

20%

40%

60%

80%

100%

120%

Q1-

20

14

Q2-

20

14

Q3-

20

14

Q4-

20

14

Q1-

20

15

Q2-

20

15

Q3-

20

15

Q4-

20

15

Q1-

20

16

Q2

-20

16

Q3-

20

16

Q4-

20

16

% A

udien

ce S

hare

Analog TV (6 Channel + Cable & Satelltie) Digital TV

Source : NBTC & AC Nielsen

Page 29: FY15 Financial Briefing - listed companygrammy.listedcompany.com/misc/PRESN/20160311... · 3/11/2016  · Global Top 100 GMM Grammy Official Channel Rank #16 Genie Rock Channel Rank

GMM GRAMMY PUBLIC COMPANY LIMITED 29

DTT CHANNEL RANKING : Total Individuals – All Day

Source : AC Nielsen Note: Exclude former analog TV channels i.e. Ch 3, Ch 5, Ch 7

CHANNEL TVR CHANNEL TVR CHANNEL TVR CHANNEL TVR CHANNEL TVR CHANNEL TVR

1 WORKPOINT TV 0.720 WORKPOINT TV 0.787 WORKPOINT TV 0.931 WORKPOINT TV 0.765 WORKPOINT TV 0.862 WORKPOINT TV 1.100

2 CH 8 0.387 CH 8 0.432 CH 8 0.630 CH 8 0.551 CH 8 0.603 MONO 29 0.629

3 MONO 29 0.297 MONO 29 0.356 MONO 29 0.413 MONO 29 0.474 MONO 29 0.520 CH 8 0.566

4 ONE 0.227 ONE 0.244 ONE 0.312 ONE 0.313 ONE 0.365 ONE 0.427

5 THAIRATH TV 0.187 3 SD 0.213 3 SD 0.239 3 SD 0.291 3 SD 0.365 3 SD 0.281

6 TRUE4U 0.099 THAIRATH TV 0.187 THAIRATH TV 0.226 3 FAMILY 0.175 3 FAMILY 0.175 THAIRATH TV 0.192

7 PPTV 0.079 3 FAMILY 0.105 TRUE4U 0.203 TRUE4U 0.170 THAIRATH TV 0.165 TRUE4U 0.154

8 3 SD 0.063 TRUE4U 0.101 3 FAMILY 0.158 THAIRATH TV 0.152 TRUE4U 0.138 3 FAMILY 0.154

9 NEW TV 0.055 PPTV 0.082 GMM 25 0.113 PPTV 0.100 AMARIN TV 0.102 AMARIN TV 0.110

10 NATION TV 0.055 GMM 25 0.072 PPTV 0.106 GMM 25 0.095 PPTV 0.099 NOW TV 0.107

11 TNN 24 0.054 AMARIN TV 0.067 AMARIN TV 0.104 AMARIN TV 0.093 GMM 25 0.096 GMM 25 0.093

12 AMARIN TV 0.053 NEW TV 0.066 NEW TV 0.085 NEW TV 0.077 NOW TV 0.096 PPTV 0.088

13 THAI TV 0.053 THAI TV 0.063 TNN 24 0.083 NOW TV 0.076 NEW TV 0.076 NEW TV 0.067

14 GMM 25 0.049 TNN 24 0.061 NATION TV 0.076 NATION TV 0.070 NATION TV 0.072 NATION TV 0.065

15 3 FAMILY 0.045 NATION TV 0.059 SPRING NEWS 0.074 SPRING NEWS 0.062 TNN 24 0.055 SPRING NEWS 0.061

16 SPRING NEWS 0.033 SPRING NEWS 0.050 THAI TV 0.068 TNN 24 0.061 SPRING NEWS 0.055 TNN 24 0.049

17 BRIGHT TV 0.024 MCOT FAMILY 0.046 MCOT FAMILY 0.052 MCOT FAMILY 0.039 MCOT FAMILY 0.042 MCOT FAMILY 0.039

18 MCOT FAMILY 0.020 BRIGHT TV 0.029 NOW TV 0.035 BRIGHT TV 0.032 BRIGHT TV 0.032 BRIGHT TV 0.028

19 VOICE TV 0.015 MVTV FAMILY (LOCA) 0.024 BRIGHT TV 0.029 VOICE TV 0.028 VOICE TV 0.025 VOICE TV 0.024

20 NOW TV 0.014 NOW TV 0.022 VOICE TV 0.024 THAI TV 0.000 THAI TV 0.000 THAI TV 0.000

21 MVTV FAMILY (LOCA) 0.013 VOICE TV 0.019 MVTV FAMILY (LOCA) 0.022 MVTV FAMILY (LOCA) 0.000 MVTV FAMILY (LOCA) 0.000 MVTV FAMILY (LOCA) 0.000

RANKQuarter 1 February

20162015

Quarter 3 Quarter 4 JanuaryQuarter 2

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GMM GRAMMY PUBLIC COMPANY LIMITED 30

DTT CHANNEL RANKING : Target 15-24 – All Day

Source : AC Nielsen Note: Exclude former analog TV channels i.e. Ch 3, Ch 5, Ch 7

CHANNEL TVR CHANNEL TVR CHANNEL TVR CHANNEL TVR CHANNEL TVR CHANNEL TVR

1 WORKPOINT TV 0.678 WORKPOINT TV 0.731 WORKPOINT TV 0.742 WORKPOINT TV 0.642 WORKPOINT TV 0.752 WORKPOINT TV 0.868

2 ONE 0.305 CH 8 0.283 CH 8 0.355 ONE 0.364 MONO 29 0.404 MONO 29 0.454

3 CH 8 0.274 MONO 29 0.265 ONE 0.333 MONO 29 0.355 ONE 0.401 ONE 0.396

4 MONO 29 0.211 ONE 0.262 MONO 29 0.312 CH 8 0.280 CH 8 0.334 CH 8 0.321

5 THAIRATH TV 0.152 3 SD 0.131 TRUE4U 0.155 3 SD 0.183 3 SD 0.269 3 SD 0.177

6 GMM 25 0.095 THAIRATH TV 0.119 3 SD 0.146 GMM 25 0.135 GMM 25 0.148 GMM 25 0.135

7 TRUE4U 0.089 GMM 25 0.111 GMM 25 0.138 TRUE4U 0.132 TRUE4U 0.113 TRUE4U 0.117

8 3 SD 0.081 TRUE4U 0.089 THAIRATH TV 0.130 THAIRATH TV 0.086 THAIRATH TV 0.084 THAIRATH TV 0.086

9 PPTV 0.081 3 FAMILY 0.068 3 FAMILY 0.096 3 FAMILY 0.081 3 FAMILY 0.082 3 FAMILY 0.072

10 AMARIN TV 0.039 PPTV 0.052 PPTV 0.081 PPTV 0.062 NOW TV 0.061 NOW TV 0.066

11 3 FAMILY 0.037 AMARIN TV 0.040 AMARIN TV 0.061 AMARIN TV 0.045 PPTV 0.052 PPTV 0.050

12 THAI TV 0.031 MCOT FAMILY 0.038 MCOT FAMILY 0.050 NOW TV 0.041 AMARIN TV 0.043 AMARIN TV 0.047

13 NEW TV 0.026 NEW TV 0.034 NEW TV 0.041 NEW TV 0.035 NEW TV 0.034 NEW TV 0.034

14 TNN 24 0.017 THAI TV 0.032 TNN 24 0.033 TNN 24 0.025 MCOT FAMILY 0.025 MCOT FAMILY 0.022

15 BRIGHT TV 0.017 TNN 24 0.022 THAI TV 0.033 MCOT FAMILY 0.021 NATION TV 0.020 NATION TV 0.014

16 SPRING NEWS 0.013 SPRING NEWS 0.019 NOW TV 0.025 SPRING NEWS 0.018 TNN 24 0.016 SPRING NEWS 0.014

17 NATION TV 0.010 NOW TV 0.015 SPRING NEWS 0.021 BRIGHT TV 0.016 BRIGHT TV 0.016 TNN 24 0.011

18 MCOT FAMILY 0.009 NATION TV 0.015 NATION TV 0.019 NATION TV 0.015 SPRING NEWS 0.015 BRIGHT TV 0.011

19 NOW TV 0.008 BRIGHT TV 0.015 BRIGHT TV 0.015 VOICE TV 0.008 VOICE TV 0.006 VOICE TV 0.004

20 MVTV FAMILY (LOCA) 0.007 MVTV FAMILY (LOCA) 0.008 MVTV FAMILY (LOCA) 0.010 THAI TV 0.000 THAI TV 0.000 THAI TV 0.000

21 VOICE TV 0.003 VOICE TV 0.006 VOICE TV 0.009 MVTV FAMILY (LOCA) 0.000 MVTV FAMILY (LOCA) 0.000 MVTV FAMILY (LOCA) 0.000

RANKQuarter 1 Quarter 2 Quarter 3 February

2016

Quarter 4 January

2015

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GMM GRAMMY PUBLIC COMPANY LIMITED 31

DTT CHANNEL RATING (Total Individuals - All 4+)

Source : AC Nielsen, Excluding former analog TV channels i.e. Ch 3, Ch 5, Ch 7

TOTAL INDIVIDUALS | MON- SUN | ALL TIME 06:00 – 23:59

0.0000.2000.4000.6000.8001.0001.2001.4001.6001.8002.0002.2002.4002.6002.800

April May June July August September October November December January February March April May June July August September October November December January February

2014 2015 2016

WORKPOINT TV CH 8 MONO 29 ONE 3 SD THAIRATH TV TRUE4U

3 FAMILY GMM 25 PPTV AMARIN TV NEW TV TNN 24 NATION TV

SPRING NEWS THAI TV MCOT FAMILY NOW TV BRIGHT TV VOICE TV MVTV FAMILY (LOCA)

0.000

0.100

0.200

0.300

0.400

0.500

0.600

0.700

0.800

0.900

1.000

1.100

1.200

April May June July August September October November December January February March April May June July August September October November December January February

2014 2015 2016

TOTAL INDIVIDUALS | MON- SUN | PRIMETIME 18:30 – 22:29

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GMM GRAMMY PUBLIC COMPANY LIMITED 32

DTT CHANNEL RATING (Total Individuals - All 14-25)

Source : AC Nielsen, Excluding former analog TV channels i.e. Ch 3, Ch 5, Ch 7

0.000

0.200

0.400

0.600

0.800

1.000

1.200

1.400

1.600

1.800

2.000

April May June July August September October November December January February March April May June July August September October November December January February

2014 2015 2016

WORKPOINT TV CH 8 MONO 29 ONE 3 SD THAIRATH TV TRUE4U

3 FAMILY GMM 25 PPTV AMARIN TV NEW TV TNN 24 NATION TV

SPRING NEWS THAI TV MCOT FAMILY NOW TV BRIGHT TV VOICE TV MVTV FAMILY (LOCA)

0.000

0.100

0.200

0.300

0.400

0.500

0.600

0.700

0.800

0.900

1.000

April May June July August September October November December January February March April May June July August September October November December January February

2014 2015 2016

ALL 14-25| MON- SUN | PRIMETIME 18:30 – 22:29

ALL 14-25| MON- SUN | ALL TIME 06:00 – 23:59

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GMM GRAMMY PUBLIC COMPANY LIMITED 33

DTT CHANNEL RATING (Greater Bangkok)

Source : AC Nielsen, Excluding former analog TV channels i.e. Ch 3, Ch 5, Ch 7

0.000

0.200

0.400

0.600

0.800

1.000

1.200

1.400

1.600

1.800

2.000

2.200

2.400

April May June July August September October November December January February March April May June July August September October November December January February

2014 2015 2016

WORKPOINT TV CH 8 MONO 29 ONE 3 SD THAIRATH TV TRUE4U

3 FAMILY GMM 25 PPTV AMARIN TV NEW TV TNN 24 NATION TV

SPRING NEWS THAI TV MCOT FAMILY NOW TV BRIGHT TV VOICE TV MVTV FAMILY (LOCA)

GREATER BANGKOK | MON- SUN | PRIMETIME 18:30 – 22:29

0.000

0.100

0.200

0.300

0.400

0.500

0.600

0.700

0.800

0.900

1.000

1.100

1.200

April May June July August September October November December January February March April May June July August September October November December January February

2014 2015 2016

GREATER BANGKOK | MON- SUN | ALL TIME 06:00 – 23:59

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GMM GRAMMY PUBLIC COMPANY LIMITED 34

DTT CHANNEL RATING (Urban)

Source : AC Nielsen, Excluding former analog TV channels i.e. Ch 3, Ch 5, Ch 7

0.0000.2000.4000.6000.8001.0001.2001.4001.6001.8002.0002.2002.4002.600

April May June July August September October November December January February March April May June July August September October November December January February

2014 2015 2016

WORKPOINT TV CH 8 MONO 29 ONE 3 SD THAIRATH TV TRUE4U

3 FAMILY GMM 25 PPTV AMARIN TV NEW TV TNN 24 NATION TV

SPRING NEWS THAI TV MCOT FAMILY NOW TV BRIGHT TV VOICE TV MVTV FAMILY (LOCA)

0.000

0.100

0.200

0.300

0.400

0.500

0.600

0.700

0.800

0.900

1.000

1.100

1.200

April May June July August September October November December January February March April May June July August September October November December January February

2014 2015 2016

UPC URBAN| MON- SUN | ALL TIME 06:00 – 23:59

UPC URBAN | MON- SUN | PRIMETIME 18:30 – 22:29

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GMM GRAMMY PUBLIC COMPANY LIMITED 35

DTT CHANNEL RATING (Rural)

Source : AC Nielsen, Excluding former analog TV channels i.e. Ch 3, Ch 5, Ch 7

0.0000.2000.4000.6000.8001.0001.2001.4001.6001.8002.0002.2002.4002.6002.8003.000

April May June July August September October November December January February March April May June July August September October November December January February

2014 2015 2016

WORKPOINT TV CH 8 MONO 29 ONE 3 SD THAIRATH TV TRUE4U

3 FAMILY GMM 25 PPTV AMARIN TV NEW TV TNN 24 NATION TV

SPRING NEWS THAI TV MCOT FAMILY NOW TV BRIGHT TV VOICE TV MVTV FAMILY (LOCA)

0.000

0.100

0.200

0.300

0.400

0.500

0.600

0.700

0.800

0.900

1.000

1.100

1.200

April May June July August September October November December January February March April May June July August September October November December January February

2014 2015 2016

UPC RURAL | MON- SUN | PRIMETIME 18:30 – 22:29

UPC RURAL | MON- SUN | ALL TIME 06:00 – 23:59

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GMM GRAMMY PUBLIC COMPANY LIMITED 36

Estimated DTT Operating Cost for 2016

ONE 31 GMM 25 Production/Contents 1,150 480 Others e.g. MUX 200 100 License 220 150 SG&A 1,000 500

Total 2,570 1,230

Unit : Million Baht

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GMM GRAMMY PUBLIC COMPANY LIMITED 37

GMM GRAMMY PUBLIC COMPANY LIMITED . 50 GMM Grammy PLACE, Sukhumvit 21 Rd. (Asoke), Khlongtoeinuea, Wattana, Bangkok 10110, Thailand www.gmmgrammy.com

Investor Relations Email : [email protected] Tel : (+66) 2 669 9936, (+66) 2 669 9952, (+66) 2 669 8071