"Focus Media" is advancing into the advertising market in lifts for both office buildings and condominiums, revealing that its first-quarter performance this year has seen a significant leap, confidently aiming to achieve 250 million baht by the end of the year, with plans for continuous profits and a listing on the stock exchange.

Mr. Lemon Lee, Vice President of Sales at Focus Media (Thailand) Co., Ltd., a leader in lift advertising (Lift Advertising / Elevator Media) for office buildings and condominiums, stated that the market in Thailand is rapidly growing. From July 2022, when there were 3,000 advertising screens, the number has exceeded 10,000 screens in the first quarter of 2023. This growth is attributed to expanding the team from just 20 to approximately 100 people, allowing for greater market penetration.

In 2022, the total sales were 20 million baht, and in the first quarter of 2023, sales have already surpassed 20 million baht. Therefore, the annual target is set at 250 million baht, which they are quite confident will be achieved with sufficient team expansion and belief in their business model based on 20 years of experience in China.

Mr. Lemon mentioned that COVID-19 did not significantly impact the market because indoor media differs from outdoor media; even during lockdowns, people still need to use lifts. In fact, this situation has created opportunities for indoor media, contributing to market growth during this period.

However, Mr. Lemon noted that currently, personnel are still insufficient for market penetration and screen installation in the second quarter, so adjustments need to be made accordingly. The goal by the end of the year is to have 15,000 to 18,000 screens, focusing on large office buildings and hypermarkets across the country. In key cities like Chonburi, where there are already 700 screens, they aim to expand to 5,000 screens. In the Bangkok metropolitan area, there is still significant opportunity as it is estimated that there are fewer than 50,000 indoor media screens.

The previous advertising screens were 21 inches, but since 2022, they have been upgraded to 25-32 inches for better visibility and video display. These advertising screens are located both inside and outside lifts, as well as in parking lifts.

The Vice President of Sales at Focus Media also explained four factors of lift advertising: 1. The target consumer group has a monthly income of at least 20,000 baht and consists of working individuals living in condominiums, who are the most likely to see the advertising screens. 2. There are unavoidable daily travel routes that require using lifts in condominiums and office buildings. 3. Lifts are enclosed spaces where people do not know each other, and the only focus is on the advertising screens, leading to being compelled to view them 4-8 times a day. 4. In enclosed spaces, the high frequency of exposure results in excellent awareness effectiveness.

"In daily life, even though eyes are drawn to advertisements and mobile phones, they pass by quickly and are not memorable. In contrast, lifts are something that must be faced from the start of work until the end of the day," Mr. Lemon stated.

The advertising market in Thailand is valued at approximately 3 billion USD per year (around 100 billion baht), with television media accounting for 50%, internet media 20%, print and cinema 10%, and out-of-home (OOH) media 10-12%. Focus Media operates within the OOH segment, and the current Thai advertising market resembles the Chinese market 10-15 years ago.

Mr. Lemon concluded by stating that the company's goal is to capture a 2-3% market share. Earlier this year, the CEO of Focus Media from China met with the Thai team to discuss preparations for a listing on the Thai stock exchange, which means achieving continuous profits for three years and having a long-term strategy. The company is currently seeking partners for data collection and research to strengthen its position.

It is worth noting that Focus Media (Thailand) Co., Ltd. is part of Focus Media in China, which holds a market share in China exceeding 100 billion yuan (500 billion baht) with annual sales of 16 billion yuan. In 2005, it was listed on the NASDAQ in the United States, and in 2006, it made the top 100 of NASDAQ. In 2015, it delisted from NASDAQ to register on the Shenzhen Stock Exchange in the People's Republic of China.

In 2017, Focus Media began expanding internationally in Asia, including South Korea, Singapore, Indonesia, Vietnam, Malaysia, and Thailand. In 2021, the South Korean branch was listed on the stock exchange, marking a turning point for the parent company in China to place greater emphasis on international markets in terms of capital and personnel, especially in Singapore and Thailand, which have stock exchanges.