Yeah1 Group posts positive first-half business results

At the end of the first half of 2022, the Yeah1 Group Corporation’s consolidated net revenue was estimated at VND139.6 billion ($6 million), or 24 per cent of the plan, of which more than 50 per cent was from advertising and communications consulting - event organization services, 30 per cent from television, and the remainder from other activities. Its after-tax profit reached more than VND8 billion ($343,430), or 33 per cent of the plan, after a loss of VND196.7 billion ($8.46 million) was posted in the same period of last year. Operating expenses in the first half totaled VND37.1 billion ($1.59 million), down 80 per cent year-on-year.

Spending by brands on communications, advertising, and events in the first half of a year normally accounts for only 30 per cent or so of the total annual budget, while 70 per cent is spent in the second half. For this reason, the Group’s revenue is sure to increase in the final six months of the year. The results of the first half were modest, but nonetheless show the effectiveness of the Group’s comprehensive restructuring, creating a foundation for strong growth in the future.

The main revenue contributors over the first six months were advertising, media consulting services, event organization, and television. For advertising and communications consulting, Yeah1 deployed a comprehensive strategy including creative content consulting, community building on social platforms, and public integration. It has also developed omni-channel digital platform technology (Omni channels) and a Customer Data Platform (CDP) to improve the customer experience, retain users, and boost sales efficiency for brands. This pioneering service provision will help the Group increase revenue in the second half of the year and the years to come.

Event organization, which attracts a large number of communities, is a strength of Yeah1 and was restored after two years of Covid-19. In the second quarter, Yeah1 and Revive (Suntory PepsiCo) successfully held the Revive Water Run in Ho Chi Minh City and Da Nang and will soon hold the event in Hanoi. This is the first such event in Vietnam, attracting more than 10,000 runners, and has had the most interaction on social networks.

In the television segment, the Group has merged with the STV Media Complex Joint Stock Company (STV), which owns two television content channels - StyleTV and InfoTV. Post-merger, Yeah1 is expected to regain market share in the field of television advertising and account for 25-30 per cent of the advertising budgets of brands.

On June 16, the Yeah1 Group was honored as the “Video content publisher with the highest views and interaction in Vietnam on Facebook Watch” at the “VideoCon: Building Connected Brand with In-stream and Reels” conference organized by the Meta Corporation. This award affirms Yeah1’s leading position in producing and publishing content on social platforms.