Workpoint Entertainment Public Company Limited

Second quarter 2025 results for three digital TV stocks show only ONEE remained profitable, with net profit of 72 million baht, down 15 percent from the same period last year. BEC posted a net loss of 14 million baht, while WORK reported a net loss of 11 million baht. ONEE booked total revenue of 2.26 billion baht, up 26.27 percent year on year, driven by standout growth in its Idol Marketing business, which generated 1.42 billion baht, a 75.83 percent increase and 63.0 percent of total operating revenue. BEC recorded operating revenue of 877 million baht, down 154.5 million baht, or 15 percent, from the same period last year, as advertising airtime revenue contracted 21.9 percent amid geopolitical tensions that raised energy and production costs, prompting advertisers to curb spending. WORK posted total revenue of 465.76 million baht, down from the same period last year, mainly due to lower television program revenue as advertising spending slowed, even though revenue from concerts, stage plays, event organizing, and merchandise sales increased.

WORK stock, once thriving with a price surging past 100 baht, now faces continuous losses and has had to lay off employees. The share price has declined significantly, reflecting the poor performance of Workpoint Entertainment Public Company Limited, which operates in digital TV and has key executives such as Prapas Cholsaranon and Panya Nirunkul. Analysts view that the stock still has a loss-making trend and trades below book value.