Chicilon Media increases revenue by 6% in 2023

By Thai Anh   January 15, 2024 | 11:00 pm PT
Chicilon Media expanded the number of screens to 33,000 in 2023 as a result of the resource expansion strategy, and its revenue rose by 6% compared to 2022.

According to an announcement from Chicilon Media, by the end of 2023, the entire company had completed 90% of the set revenue tasks, achieving 6% growth compared to 2022.

In particular, revenue in Hanoi set a record last year, achieving a growth rate of 42% and completing 103% of planned tasks.

2023 was also a successful year for Chicilon Media in terms of developing and expanding resources. The company achieved a growth rate of 37.5% in the building elevator channel system, increasing the number of advertising screens meeting operating standards to 33,000.

Chicilon Medias advertising screen at the elevator lobby. Photo by Chicilon Media

A Chicilon Media advertising screen in the elevator lobby. Photo by Chicilon Media

To achieve the above number, the company went against the trend, implementing a two-pronged "attack" strategy despite facing a difficult economic situation.

On the one hand, Chicilon Media exploits standard building resources and is owed rental fees from companies in the same industry. It expands the exploitation of newly completed and accepted buildings on the market.

"As long as the resources match Chicilon Media's standards, the company has signed cooperation agreements," said a Chicilon Media representative.

The company also enhanced the development of airport media channels with 30 large LED screens covering 14 key airports in Vietnam. The LED channel network is planned in reasonable locations, with good equipment and imaging technology, and on a large scale.

Chicilon Medias large LED screen system at the airport. Photo by Chicilon Media

A large Chicilon Media LED screen system at the airport. Photo by Chicilon Media

Guo Zhi Feng, Chairman of Chicilon Media, said that 2023 was an eventful year as the company dealt with the simultaneous impacts of the global financial crisis and industry competitiveness. In this scenario, the staff has been even more united and encouraging for new achievements to contribute to the growth of Vietnam's advertising media business.

He also added that in 2024, there would be many unknowns, but Chicilon Media would continue to transform its competitive advantages into a driving force.

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