There are times when SCMP Group shows more signs of life in its extremities than the heart of the operation.
Tycoon Robert Kuok Hock-nien’s media flagship won a tender yesterday to manage the advertising space at the Shun Tak ferry terminal in Sheung Wan, signing up Sands China as its first client.
SCMP has also secured an exclusive contract to manage billboards at Top Glory Tower in Causeway Bay and the Jumbo Court car park in Aberdeen. That’s in addition to the luxury advertising shroud that envelopes the media company’s Leighton Road office.
SCMP chief operating officer Elsie Cheung said the outdoor media segment has grown steadily over the past five years and the introduction of this new business unit is consistent with the group’s growth strategy.
“It is in line with our philosophy of only acquiring prime sites that complement our core base of elite advertising brands,” Cheung said.
In contrast with the previous decade, SCMP Group has been more active in business expansion since the company’s shares were suspended in February 2013.
Apart from the outdoor business, the publishing group has bought three magazines — Destination Macau, Peak Magazine from rival The Standard and HK Magazine — in the last year. The group is also the biggest publisher of women’s magazines with its Elle, Cosmopolitan and Harper’s Bazaar titles soaking up about 40 percent of the market.
The magazine and outdoor business expansion is thought to be the growth strategy chief executive Robin Hu Yee-cheng, who took over nearly two years ago, is pursuing to save the core but stagnant newspaper business.
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