SPH's total ads fell 14% in Q1

A poor showing in Q1 could mean at least a 10% revenue decline.

Singapore Press Holding's (SPH) had its ad page count fall by 14% for Q1, UOB Kay Hian revealed.

According to the broker, this is the sharpest decline ever seen for Q1, which has historically been one of its stronger quarters and was comparable to the weakness seen in 3Q2017.

"Q1 typically sets the tone for SPH’s page count for the rest of the year," UOB Kay Hian analyst Foo Zhi Wei noted.

Sharp drops in advertising were seen across all segments, with the classifieds reporting the sharpest decline of 22% YoY. The recruit and display segments saw declines of 15% and 11% YoY, respectively.

Whilst Q3 has historically been the strongest quarter, the variance against Q1 has been around 1%.

As such, the double-digit drop in page count potentially points to a sharper-than-expected decline in media revenue for 2018, UOB Kay Hian said.

"With Q1 typically making up 26% of SPH’s page count, annualising the figure points to a full-year page count decline of 11% yoy. Barring a mid-year recovery/worsening in the segment, our current assumption for a 10% YoY decline in FY18 seems on track," Foo added.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia