RS Music under RS Group, the key driver of Thailand’s music industry for over 40 years, announced the launch of the ACROSS THE UNIVERSE JOINT VENTURE with Grammy Music to collaborate to host their phenomenal concert series, highlighting nostalgia marketing in accordance with the 90s and Y2K trends that are currently popular. In addition to creating an incredible phenomenon in Thailand’s music industry and sharing happiness to fans, this reflects one of RS Music’s significant business strategies, which is to be open to opportunities and collaborate with prospective partners both locally and globally. Furthermore, RS Music is working on another significant deal with an international partner and hoping to announce it soon. All of this is consistent with the company’s determination to expand business prospects, while supporting, driving and equipping Thailand’s music industry with global competitiveness.
With the 90s and Y2K trends revived by international fashion icons and social media’s capacity to widely spread the trends across the internet, the trends have returned and grew drastically in various industries all over the world, namely the fashion, music and many other industries. Meanwhile, Thai people enjoy the return of the trends as well. RS Music, Thailand’s leading music label, has also captured the opportunity to gather its artists from different generations and is hosting special concerts by using nostalgia marketing, bringing back the good old days for everyone to enjoy. Every song and dance move that was once the talk of the town has become tools that effectively attract interest and engagement of the consumer groups.
Mr. Surachai Chetchotisak, Chief Executive Officer of RS Public Company Limited (SET: RS), said: “Through the past decades, RS has been the music icon that pioneered Thai pop music culture among teenagers for a very long time. Earlier this year, RS has announced our strategies of the media and entertainment business units with the determination to actively resume our music business. With the clear business model and strong partners domestically and internationally. Therefore, this collaboration is such a great opportunity for us to begin working with many different partners by forming a joint venture with our key partner ‘Grammy,’ another leader and ally in the same sector that has always been continued moving forward and developing Thailand’s music industry together with us. This is the perfect moment to start working together to combine our unique expertise.”
Mr. Wittawat Wetchabutsakorn, Chief Financial Officer of RS Public Company Limited and a committee member of the ACROSS THE UNIVERSE JOINT VENTURE, revealed: “Under the joint venture, both RS and Grammy have invested the same amount of funds and closely worked together with the same goal to create an incredible experience for fans with the use of nostalgia marketing, creating engagement between fans and artists that they have always been missing. To engage the popular 90s and Y2K trends, the series of concerts will allow artists from the generations to shine on stage once again, delighting fans while singing and dancing together without limits on the record labels.”
This year’s concert series include three big concerts coming with three different themes in July, September and October, respectively. All the concerts will gather artists from each generation to give everyone happiness and great fun. Apart from the artist lineups that are popular among fans, there are still many other factors prepared to drive the three concerts to success. Among the contributing factors are the country’s top production team with high competency, the full functionality of the venue IMPACT Muang Thong Thani, and unique themes of the performances that will be definitely loved by the well-established fan base who has been waiting for the comeback of their favorite artists. Also, since the 90s fans are now in their working years and have a stable financial status, the music events fit their lifestyle and purchasing power.
“We are confident that all the concerts under the ACROSS THE UNIVERSE JOINT VENTURE will achieve success with overwhelming feedback from fans, which will be reflected in selling out all available tickets in a limited time. After the income and profit from the joint venture have been divided equally, it is expected that this year’s income of the media and entertainment businesses under RS Group will reach 2.4 billion baht as targeted. Moreover, the artists from both companies and their songs will go viral again, further adding the value of our owned music assets,” Mr. Wittawat added.
Mr. Surachai concluded: “For RS Music, this collaboration embarks on our development of new partnerships that will not only increase growth of RS Music’s income, but also reflect that we are open to work with new potential partners both locally and internationally to reach new business opportunities and further develop projects in a variety of formats in the future. Now, we are discussing potential partnerships with international firms which will be announced again once finalized. It is expected that the agreement will be completed within the second quarter. Eventually, the collaboration with all partners will support our ambition to advance the growth and competitiveness of Thailand’s music industry on a worldwide scale.”
