Vividthree Holdings Reports Positive Growth in 4Q2019
- Recorded 4Q2019 Revenue rose 121.6% y-o-y to S$4.0 million
- Net Profit surged more than twentyfold to S$1.5 million in 4Q2019
- Gross Profit margin jumped by 29.9% to 68.6% in 4Q2019 due to better margin yielded by its Content Production segment
- Train To Busan Virtual Reality (“TTB VR”) tour show extends to another province in China, Xiamen, with 1-year exclusive territorial rights granted to the local promoter
Vividthree Holdings Ltd. (SGX: OMK), a virtual reality, visual effects and computer-generated imagery production studio (“Vividthree”, the “Company” or the “Group”) today announced its financial results for its three months ended 31 March 2019 (“4Q2019”) and full year ended 31 March 2019 (“FY2019”).
Looking ahead, the Group remains focused on strengthening their presence in Asia as a digital content producer. Following the completion of its flagship TTB VR tour show in Beijing, the tour show will subsequently travel to another province in China, Xiamen, where the Group has engaged a local promoter by granting them a 1-year exclusive territorial rights to host the tour show in the particular province. The Group will also be tapping on the worldwide success of the Korean blockbuster, TTB, which will soon have a sequel slated for release in 2020. As a result, the Group has received warm responses from several promoters in the region, and it is currently in negotiations to take the TTB VR tour show to other parts of the world.
Managing Director of Vividthree, Mr Charles Yeo commented, “This set of results marked a good finale to the fiscal year 2019. We are just at the beginning, the tip of the iceberg. As we gained positive traction in our Content Production business, particularly the Train To Busan Virtual Reality tour show, we are proud to unravel it to more vibrant provinces in China, such as Xiamen while exploring more opportunities across the globe. We will keep up our continued momentum in actively seeking more evergreen intellectual property products and constantly aim to maximise shareholders’ returns in the longer term.”
Riding on the fast-growing experience economy, the Group is also looking into the use of VR technology to improve the experience of an escape game (a room filled with puzzles and scenario games), which has become a worldwide craze in recent years. The Group will continue to look for merger and acquisition opportunities, as well as new intellectual property products to expand its Post-Production and Content Production businesses.