Business Performance Analysis
Digital Content Services
The Company remains committed to its mission of 'Serving People,' prioritizing users with cutting-edge digital marketing and communication products and solutions. Concurrently, leveraging advanced technology to drive profit growth, we aim to cultivate high-quality, large-scale, sustainable, and interconnected niche communities, including Health, Marathon, eSports, Finance, Technology, and Automotive. This strategic approach serves our business objectives, diversifies our product portfolio, and expands our presence in the global market.
The year 2023 presented ongoing challenges for businesses overall, particularly within the advertising media industry. Apart from the obstacles encountered by the Real Estate customers, other pivotal industries constituting the revenue proportion of the Digital Content segment haven’t yet to witness full recovery, thereby adversely affecting the business outcomes within this segment. During 2023, the Digital Content segment reported revenue of 620 billion VND and profit before tax of 147 billion VND, reflecting respective declines of 20% and 52.4% compared to the corresponding period in the previous year.
Given the circumstances, leveraging its stature as the foremost provider of digital advertising and communication solutions in Vietnam, FPT took proactive measures to cultivate novel solutions and product categories. This strategic initiative aimed to broaden its service offerings and customer base, thereby ensuring sustained growth and offsetting the shortfall stemming from key industry segments. Utilizing the inherent strengths of Made-by-FPT technology platforms, including the Data Analytics Platform and real-time data measurement system, FPT spearheaded innovations in advertising technology. This advancement has enhanced the capability to deliver campaigns tailored to immediate scenarios based on user interactions.
With a mission to foster happiness for all while serving the nation, the online sports platform (vRace) and the professional running race series (VnExpress Marathon) consistently set new records in terms of both races and participant figures, upholding their stature as the leading organizers of running events across various provinces and cities in Vietnam. Revenue generated from event organization activities in the past year played a crucial role in mitigating the adverse effects of market challenges.
FPT will continue to leverage technology to streamline event organization processes, aiming to minimize costs and drive profit growth within the Digital Content segment. Beyond revenue generation for FPT, these initiatives are anticipated to draw significant international tourism, thereby enriching the economic, cultural, and sporting landscape of various localities nationwide.