SCMP Acquires Top Luxury Lifestyle Publisher – Destination Macau Limited
Expands into Macau to Capture High Net-worth Readers in the Region
HONG KONG, CHINA-- Media OutReach-- 24 March 2014 -- SCMP Group Ltd (SEHK: 583), Asia's leading media holding company, announced today that
it will acquire leading luxury lifestyle publisher Destination Macau Limited from
Ignite Media
Group Limited to further consolidate its market share in the South
China region's luxury lifestyle media space.
Destination Macau, the Design Issue
As the world's number one gaming market, Macau
surpassed Las Vegas' total gaming revenue in 2013 by seven times, and is tipped
to continue its accelerating pace of growth.
This is underpinned by its status as a tourism hub for China's rapidly
expanding middle class, whose consumption demand has prompted a doubling of
Macau's hotel rooms in the next 5 years.
Moreover, as demonstrated by its more than US$8 billion worth of retail
sales in 2013, the opportunity is extremely attractive.
Destination Macau Limited publishes two titles -
luxury lifestyle title Destination Macau
and ultra high-end magazine DM Exclusive
in English and Simplified Chinese, with both delivering high quality leisure
lifestyle content, featuring topics such as luxury brands to watch out for,
world-class Macau entertainment reviews, and fine-dining experiences to be
had. Moreover, Destination Macau Limited
also operates a growing custom publishing business to cater to the content
marketing needs of luxury brands, services and retailers aiming to capture the
rapidly growing population of Macau-bound jetsetters traveling from China and
the world.
This strategic addition to SCMP Group's
ever-growing portfolio of magazines, which already boasts Cosmopolitan, Elle,
Esquire, Harper's Bazaar, PEAK and STYLE, further reinforces its dominant
position in the luxury lifestyle segment.
Importantly, it gives SCMP Group the key to enter Macau - China's entertainment
tourism capital, and the world's fastest growing gaming market.
"The combination of Destination Macau's high
quality content, and its native base of affluent readers from Macau, China and
the world makes this acquisition a perfect fit into the SCMP Group's family of
luxury titles, and adds to an even more formidable offering to our network of
top tier advertisers", said Ms. Elsie
Cheung, Chief Operating Officer of SCMP Group.
Moreover, "with Destination
Macau's strong brand equity and established market presence in Macau, it
presents a fertile opportunity for further growth when coupled with our
award-winning expertise in multimedia magazine publishing, advertising, bespoke events and custom publishing", continued
Ms. Cheung.
"Advertisers today,
especially the sophisticated top-tier brands that we regularly work with, are
increasingly searching for cross-platform opportunities that allow them to
communicate to their target audience along more touch points. With the SCMP Group, we are confident
Destination Macau Limited has found the perfect home", remarked Ms. Carrie
Leung, General Manager of Ignite Media Group.
"Ignite has built Destination Macau and Destination Macau Exclusive into Macau's
premier luxury publishing titles; and knowing SCMP Group's capabilities, we are
confident they will be able to take this business to the next level".
"We look forward to
further collaboration and partnerships as Ignite accelerates its market-leading
platforms -- Macau.com, Qoos.com, MacauHR and Aomen.TV, together with our
portfolio of services to continue supporting the growth and diversification of
the new Macau", concluded Ms. Leung.
Destination Macau Limited
will operate under SCMP Group's management from late March onwards, and Destination Macau will maintain its
popular editorial direction, and its distribution network within 5-star hotels
and resorts, airlines, dedicated direct-to-Macau ferries, and most importantly,
its direct distribution to high net-worth individuals in Macau.
Image
Destination Macau, the
Design Issue
Company Logo
http://release.media-outreach.com/release.php/Images/1596 About Ignite Media Group Ltd Ignite Media Group (http://www.igniteasia.com) is Macau’s premier media and services conglomerate with market-leading positions in online, out-of-home, print and services enterprises dedicated to promoting Macau as Asia’s #1 entertainment destination. Ignite includes market-leading media brands across multiple verticals: Macau.com (Macau’s #1 online travel and destination marketing platform), Qoos.com (Macau’s #1 Chinese language social media community and C2C listings platform), Aomen.tv (Macau’s #1 online TV production company), MacauHR (Macau’s #1 integrated online jobs listings and recruitment / corporate services firm), New Macau Box Offices (Macau’s #1 show ticketing company), EC-Ad (outdoor media) and Ignition (media agency & advisory services). About SCMP Group Ltd SCMP Group Limited (SEHK: 583) is a leading newspaper and magazine publisher in Asia. Its flagship publication, South China Morning Post, is Hong Kong's internationally recognised English language newspaper and has the city's most affluent and influential readership. First published in 1903, the newspaper has developed an enviable reputation for authoritative, influential and independent reporting on Hong Kong, China and the rest of Asia. Available in print, iPad™ and online through scmp.com and e-reader editions, South China Morning Post reaches a global audience with daily breaking news, analysis and opinion, multimedia articles and interactive forums. The South China Morning Post received 65 awards in 2013 for excellence in editorial, marketing and technical capability. Other titles in the Group include the Sunday Morning Post, the Chinese editions of Cosmopolitan, Harper's Bazaar, ELLE, ELLE Men, Esquire and CosmoGirl!, PEAK, HK Magazine, The List, Where Hong Kong, and Where Chinese玩儿.
The issuer is solely responsible for the content of this announcement.
SOURCE:
SCMP Group Limited
CATEGORY:
Media
PUBLISHED ON:
24 Mar 2014