SY-LED conglomerate SM Investments Corp. (SMIC) is expanding its entertainment offerings in malls, convention centers, and arenas to respond to growing consumer demand, particularly from younger Filipinos.
“At SM, we recognize the younger generation’s growing preference for experiences, and this shift opens new opportunities for growth across our businesses,” SMIC President and Chief Executive Officer Frederic C. DyBuncio said in an e-mailed statement on Wednesday.
“We are broadening our entertainment offerings to strengthen engagement and create long-term value across the SM ecosystem,” he added.
SMIC said it is transforming its malls, convention centers, and arenas into multi-dimensional experience hubs to cater to emerging demand.
SM Supermalls Executive Vice-President for Marketing Joaquin L. San Agustin said the malls have adjusted their marketing efforts since emerging segments, led by millennials and Gen Zs, now value experience, the feeling of inclusivity, community involvement, and sustainability.
“That is why our marketing efforts, including entertainment events, are now geared toward targeting communities, or what we call ‘tribes.’ These are your gamers, geeks, foodies, and the many fandoms sprouting, who like more interactive and personalized experiences. The mall has become their entertainment hub and their escape,” Mr. San Agustin said.
SM said its Mall of Asia (MOA) Arena in Pasay continues to host international acts and will soon be complemented by a larger area in Cebu.
“Production value is a whole lot better at the MOA Arena because the building is able to accommodate the creative demands of big events and top-tier acts, especially for multi-sensory experiences. We see the value in constructing world-class venues in key areas that would be able to support their economic growth,” MOA Arena Vice-President for Arena Operations Arnel C. Gonzales said.
SM added that entertainment drives consumer traffic across group businesses, strengthens partnerships with global content providers, and creates shared spaces for leisure and wellness.
Meanwhile, SMX Convention Center has seen higher attendance and bookings for fan meets, gaming expos, and pop culture conventions since late 2023.
“Over the past year, there’s been a remarkable increase in event bookings, ticket sales, and audience turnout at our venues, particularly for entertainment-driven events. This upward trend gathered momentum in late 2023 and continued to grow steadily through 2024 into this year,” SMX Convention Center Vice-President and General Manager Michael Jaey C. Albaña said.
“Even weekday events are seeing rising attendance, indicating that audiences are actively making time — and room in their budgets — for these experiences,” he added.
SM said its group is also positioned to tap the country’s P1.94-trillion creative economy. Through SMIC SG Holdings, SM became the first Philippine company to invest in Klook, the Asia-based travel and experiences platform.
One-stop logistics solutions provider 2GO features karaoke lounges and video arcades in its vessels, while BDO Unibank, Inc. and China Banking Corp. also integrate lifestyle and travel-related rewards into customer programs.
SMIC shares declined by 1.76% or P14 to P781 per share on Wednesday. — Revin Mikhael D. Ochave
