Mono Group divides its businesses into 4 business operations include the following:1. MONO29: Digital TV business2. MONOMAX: Video on demand business providing movies and series as well as being an international movie distributor under the name MONO Streaming3. MONOCyber: Online business on website MThai as well as providing strategic planning and Holistic Communications service for product brands 4. Master Content Provider: Content acquisition and marketing for Interactive TV business
| 2025 | 2024 | 2023 | 2022 |
|---|
| Revenues | 1,509.39 | 1,838.47 | 1,895.38 | 2,091.24 |
| Expenses | 1,856.94 | 2,249.81 | 1,833.10 | 1,916.11 |
| Net Profit (Loss) | -413.11 | -796.71 | -255.14 | 69.33 |
| Assets | 2,628.49 | 2,699.42 | 4,216.85 | 4,571.55 |
| Liabilities | 2,613.71 | 2,271.53 | 2,989.53 | 3,089.09 |
| Shareholders' Equity | 14.78 | 427.89 | 1,227.32 | 1,482.46 |
| Operating | 936.01 | 1,109.42 | 1,538.80 | 1,029.49 |
| Investing | -688.46 | -982.17 | -1,014.39 | -742.86 |
| Financing | -242.90 | -557.25 | -143.89 | -331.46 |
| EPS (Baht) | -0.12 | -0.23 | -0.07 | 0.02 |
| GP Margin (%) | 22.20 | 29.72 | 29.24 | 28.22 |
| NP Margin (%) | -27.37 | -43.34 | -13.46 | 3.32 |
| D/E Ratio (x) | 176.86 | 5.31 | 2.44 | 2.08 |
| ROE (%) | -186.65 | -96.27 | -18.83 | 4.81 |
| ROA (%) | -13.05 | -11.89 | 1.42 | 3.88 |
The company focuses on providing comprehensive sports and entertainment content services through its main media channels, namely the Monomax video streaming business and the MONO29 TV channel business. This includes broadcasting live English Premier League football matches, for which the company has officially acquired broadcasting rights from JAS for 6 consecutive years, as well as the continuous development and expansion of other sports content services. Furthermore, the company engages in the production of Thai films and series by Mono Original and the sale of licenses to foreign countries, coupled with efficient management of various costs and expenses. These efforts aim to strengthen its content library and establish a crucial foundation for the company's long-term growth.
Mono Next Public Company Limited and its subsidiaries are committed to driving business for sustainability, prioritizing economic growth alongside responsible operations towards the environment, society, and corporate governance (Environmental, Social and Governance: ESG) under effective risk management, considering the impact on all stakeholder groups, and utilizing business capabilities to create value, responding to the Sustainable Development Goals (SDGs) to ensure the business grows strongly with all sectors.
The company is a leader in creating leading media and entertainment content in Thailand, focusing its expertise on sports, entertainment, film, and series businesses. It provides services such as the MONO29 television station, the Monomax subscription content service business, its own content production business, MONO ORIGINAL, and other businesses.
For the fiscal year 2025, ended December 31, 2025, the company reported a net loss of 413.1 million Baht. The loss decreased by 383.6 million Baht, representing a 48.1 percent reduction compared to the previous year.
Total Revenue
Total revenue for 2025 decreased by THB 329.1mn, representing a 17.9% reduction compared to the previous year, primarily due to:
- Advertising revenue decreased by THB 361.9 mn (36.5% YoY), aligned with the decline in TV media spending.
- Revenue from Monomax and GIGATV content services increased by THB 27.3mn (3.7% YoY). Digital media expansion drove growth, with Monomax recognizing Premier League revenue starting Q3/2025. Strong reception for the Premier League and FA Cup has boosted subscribers, signaling a positive revenue trend.
Costs and Expenses
- Cost of sales and services for 2025 decreased by THB 133.3mn (10.5% YoY). This is consistent with the overall decline in revenue. The primary reason for this decrease is a reduction in amortization expenses, resulting from the copyright management policy.
- Selling and administrative expenses for 2025 decreased by THB 259.6mn (26.6% YoY). This was primarily due to a decrease in impairment losses on assets and a reduction in expected credit losses, both of which were one-time expenses.
Strategic shift towards Sport & Lifestyle Entertainment
Focuses on presenting world-class sports content, alongside health and lifestyle programs, to meet the demands of modern audiences.
- Monomax (SVOD) : The primary sports platform, expanding its subscriber base through live Premier League, FA Cup, and premium films/series.
- MONO29 : Shifted focus to sports (38%) and health/lifestyle (18%), reducing the emphasis on films and series.
- Mono Original : Producing high-quality Thai series and films for Monomax, MONO29, and cinemas.
The goal is to create a systematic ecosystem connecting Monomax and MONO29, positioning the Mono Next Group as a primary media platform for sports fans and health-conscious individuals.
Strategic cooperation with partners
The company aims to maintain and strengthen cooperation with key partners, including the JAS Group and other business partners, for long-term growth.
Strengthening liquidity and capital structure
The company continues to drive long-term revenue and customer growth through strategic marketing, while optimizing capital structure and liquidity. These efforts aim to strengthen debt repayment capabilities and ensure future financial stability.
The company establishes risk management policies, preventive and corrective measures, and reviews them to keep pace with the evolving situation. The Risk and Sustainability Committee is responsible for overseeing and monitoring risks according to the plan and, in collaboration with risk management units, promotes risk management at both operational and executive levels. This includes performance measurement and evaluation to mitigate or prevent risks, thereby contributing to the achievement of organizational goals and sustainable returns for shareholders.
| as of 30/12/25 | MONO | MEDIA | SET |
|---|---|---|---|
| P/E (X) | - | - | 15.44 |
| P/BV (X) | 12.23 | 0.76 | 1.19 |
| Dividend yield (%) | - | 2.57 | 3.71 |
| 30/12/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 3,644.61 | 7,150.37 | 4,061.13 |
| Price (B/Share) | 1.05 | 2.06 | 1.17 |
| P/E (X) | - | - | 229.76 |
| P/BV (X) | 12.23 | 6.23 | 2.72 |
