workpoint
The past 2-3 years, continuing into 2023, have been an immensely challenging period for the Company’s operations. The domestic economy continues to face numerous obstacles, both economic and social, as a result of the recovery from the COVID-19 pandemic. Additionally, political conflicts and international wars have caused a slowdown in consumption. These factors have limited and reduced advertising expenditures on television, the main advertising medium, consistently over the past several years. Notably, in 2023, data from AC NIELSEN indicates that television advertising expenditure has dropped by more than 3% from 2022.
However, despite these challenges, the Company remains committed to investing in and continuously developing its various business segments. In 2023, the Company created and developed several new television programs, including "The Masterpiece", "Fandom", and " My boyfriend is better ", which were well received.
Additionally, the Company has expanded its content offerings to include drama series to broaden its audience base.
Several drama series that aired in 2023 gained significant recognition both on television and various online platforms. Besides regular television programming, the Company has also expanded into the online content sector by investing in Khotkool Co., Ltd., acquiring 49% of the total registered capital. The primary purpose of this investment is to expand the Company's online content business further.
In addition to content business development, the Company has consistently invested in organizing concerts featuring internationally renowned artists, following its business plan. These concerts have received positive feedback regarding management and internationally recognized lighting and sound systems. Notable concerts organized by the Company in 2023 include the WORLD TOUR JAY B TAPE: PRESS PAUSE ENCORE IN BANGKOK and ENHYPEN WORLD TOUR 'MANIFESTO' in BANGKOK.
Moreover, the Company continues to emphasize social and community sustainability. In the last year with the Workpoint Foundation organized various public benefit activities, such as the "Thais Help Thais" project, which provided 110 automatic oxygen generators to over 17 hospitals nationwide to support patients with respiratory illnesses. Additionally, the Company prioritizes youth education on the occasion of the 34th anniversary of the Company last year, the Company provided scholarships, stationery, sports equipment, and other essential supplies to underprivileged youth in various areas, aiming to close the educational gap and offer more opportunities.
On behalf of the Board of Directors and management of the Workpoint Public Company Limited, we would like to extend my gratitude to all shareholders, business alliances, financial institutions, government sector, related private sector, and customers who have always trusted and supported the Company. Finally, we would like everyone to firmly believe that the Company would continue operating the business in conformity Along with the policy of social responsibility under the principles of ethics and good corporate governance guidelines for continued stability and sustainability.