G.H.Y Culture & Media Holding's H1 2024 revenue dwindles

Its concert business segment bagged $19.7m in revenues.

G.H.Y Culture & Media Holding saw its revenue dip 17% year-on-year (YoY) to $27m in the first six months of the year (H1 2024), this was partially offset by its TV programme, film, and concert productions business segment.

With the completion of six concert productions in Singapore, Australia, and Japan, the concert business segment bagged $19.7m in revenue.

This was followed by their TV Program and Film Production and Other business segments with approximately $6.9m and $0.4m, respectively. 

"Supported by a healthy balance sheet with working capital of approximately $87.9m, the Group believes it is well-positioned to execute on its strategic priorities to develop new value propositions, diversify its revenue sources (such as advertisements and e-commerce marketing, etc), explore new monetisation opportunities (such as immersive games, augmented realities, etc) of its growing IP content and to harness new business opportunities across the region," it said in a local bourse filing.