Asia Media acquiring Lookhere to accelerate out-of-home digital advertising

Reaching new market segments, adding new services, building on synergies - Asia Media Group Bhd just keeps expanding!
And the momentum is building!
Asia Media Group (Asia Media or AMEDIA) has signed a Share Purchase Agreement with Lookhere Sdn Bhd (Lookhere) to acquire a 51% stake in Lookhere, pending Bursa Malaysia and shareholders' approval - as part of its business acceleration strategy.
The move is expected to muscle up Asia Media as one of the top residential digital advertising players.
Lookhere specialises in digital signature advertising on residential buildings and with Asia Media bringing in a new set of competencies and resources, rapid growth in revenues is on the cards.
Traversing the advertising industry - offering a wide range of branding and marketing services - from brand activation to social media marketing, out-of-home digital advertising, photography and videography, as well as business coaching and consulting - Asia Media has been actively strengthening its client base of different industries since the formation of the new board of directors and new management team nearly a year ago.
“The acquisition paves the way for a quicker access to the out-of-home advertising segment, in which the Group is stepping up its game with added synergies to move forward,” comments Jhin Chan, Chief Operating Officer of Asia Media.
Riding on a brand (Lookhere) that is already recognised, and with an existing client base, Asia Media has technically overcome the challenging market entry barriers in the first place.
Now, with a new and enlarged pool of assets, the Group is all geared up for expansion and growth.
Juniper Research study forecast that digital advertising spend would increase from US$407 billion in 2022 to US$753 billion in 2026; representing growth of 85%.
Interpublic Group’s Magna reported that digital ad spend currently accounts for more than half of total Malaysian advertising budgets at 56%, fast reaching the levels of global digital ad spend, which is forecast to hit two-thirds of all advertising sales in 2022.
With that, and driven by technological integration across digital media that is opening up an indefinite spectrum of possibilities - one thing for sure, advertising is going digital.
So is the digital advertising landscape in Malaysia. Looking good!