Grammy cashes in on Money Channel

       GMM Grammy Plc, the country's largest entertainment company, expects to generate a profit of 100 million baht from Money Channel next year after extending broadcasting time to 18 hours a day from eight now.
       Family Know-How Co, the operator of Money Channel, will produce TV programmes focusing on the capital market for 8.5 of the 18 hours for the Stock Exchange of Thailand, which holds a 50% stake in the company, at cost.
       The SET has a budget of 200 million baht per year to hire Family Know-How to produce the programmes.
       Grammy holds the other 50% of the 50 million baht in registered capital of Family Know-How. It will manage the remaining 9.5 hours of airtime and will enter joint ventures with some partners to produce some programmes for them.
       Grammy director Sumeth Damrongchaitham said it expected to generate at least 200 million baht from advertising revenue and additional income from management of 9.5 hours of special programmes for partners.
       "Although the management structure has been changed, most of the content of Money Channel still focuses on money management, stocks, banking and finance. However, the programmes will be more interesting and the content will be easier to understand," he said.
       Money Channel will relaunch with programme adjustments on Oct 5.
       Mr Sumeth, who is also the new managing director of Family Know-How, said the first two or three new programmes would start broadcasting in January and another 10 programmes were likely to be added over the first half of the year.
       "We strongly believe that we can generate profit from the first two or three programmes. If there was no profit [potential], we wouldn't have joined Money Channel. We have two or three clients in the banking business interested in our proposed programmes," he said.
       Family Know-How will hold an event next month to meet prospective customers from banking, securities companies, and listed companies next month.
       SET president Patareeya Benjapolchai said the exchange wanted to increase the audience for the channel, so better strategic and action plans for Family Know-How were needed.
       "We realised that we lack a creative team to develop our programmes and make them more attractive," she said."We started looking for a joint venture last year and found Grammy, which will help us develop and create programmes for Money Channel."
       GRAMMY shares closed yesterday on the SET at 14.10 baht, down 10 satang,in trade worth 1.68 million baht.