DatViet VAC Group Holdings Joint Stock Company achieved consolidated net revenue of nearly 1,370 billion dong in the first half of the year, a 7% decrease compared to the same period last year.

Explaining the negative sales growth, the company's leadership stated that the results were significantly impacted by seasonal characteristics. Typically, the first half of the year is a low season, contributing only one-third of the total revenue. The remaining portion is recorded in the second half when key programs air, concerts are organized, advertising budgets from brands increase, and consumer spending on entertainment rises sharply.

The content segment generated 687 billion dong in the first six months of the year through various activities, including artist management and commercial exploitation, intellectual property business, content broadcasting, and concert organization and ticket sales.

In the media services segment, DatVietVAC's revenue decreased by 12% year-on-year, falling to approximately 760 billion dong. The main revenue streams for this segment include influencer marketing, media planning, advertising placement, and outdoor advertising.

The company's gross profit margin for the first half of the year reached over 21%. This means that for every 100 dong in revenue, the company earned 21 dong in profit after deducting the cost of goods sold.

After deducting expenses, the producer of the "Anh trai say hi" program achieved a net profit of over 135 billion dong, a slight increase from the same period. This represents 32% of their full-year profit target of 420 billion dong.

Despite not yet reaching half of its annual plan, DatVietVAC is confident in achieving its target for the remaining period. According to the leadership, the primary drivers are three key programs: Tinh ha say hi, The Masked Singer Vietnam, and 2 ngay 1 dem, which are scheduled to air from QIII and have secured at least 85% of their proposed sponsorship levels.

The company has also signed agreements for music distribution and brand/product licensing related to intellectual property. This strategy aims to expand revenue streams without requiring direct full investment in production and event organization.

The "Anh trai say hi" concert organized by DatVietVAC in 4/2026 in TP HCM. Photo: DatVietVAC

DatVietVAC, initially a media company, was established in 1994. Since 2019, it has operated under a holdings model, encompassing several member units such as Vie Channel, VieON, Dong Tay Promotion, and DatVietOOH.

The company is currently focusing on producing and commercializing original intellectual property to expand direct revenue from users. Original intellectual property refers to unique creations, including characters, storylines, films, games, shows, and other identifying elements developed by the company or individuals, which are legally protected. This business model is relatively new in Vietnam.

DatVietVAC is currently offering 11.15 million shares in its initial public offering. The offering price for each share is 54,800 dong.

According to the leadership, the company's price-to-earnings (P/E) valuation is 13 times, which is 28% lower than the average for entertainment companies in the region. If the transaction is successful, the company's charter capital will increase to 1,114 billion dong. Based on the offering price, the market capitalization upon the company's listing on the stock exchange could reach 6,100 billion dong, or over 230 million USD.

DatVietVAC's total assets at the end of QII reached nearly 2,200 billion dong, with more than half held as term deposits in banks.

Phuong Dong