Thailand's stock market and sports industry are abuzz again after Jasmine International Public Company Limited (JAS) announced it has successfully secured the broadcast rights for the 2026 FIFA World Cup in Thailand.
This makes JAS the rights holder of one of the world's most-watched sporting events, following its earlier acquisition of long-term broadcast rights for the English Premier League and FA Cup.
This news propelled the stock price today to 1.27 baht at 3:00 p.m., up 0.11 baht or over 9.48% from the previous closing price. This deal marks a significant milestone in the company's major business transformation.
Thairath Money Tracing the history of one of Thailand's major telecommunications and broadband providers as it becomes a significant player in the media and sports content industry under close observation.
Over a decade ago, JAS was a market leader in Thailand's home internet sector through its 3BB brand. The broadband business was once the company's core revenue source and vital to its operations.
A pivotal change occurred in 2023 when JAS decided to sell shares in Triple T Broadband Public Company Limited (TTTBB) and its units in the JASIF fund to Advanced Info Service Public Company Limited (ADVANC), AIS's network operator, in a deal totaling over 32.42 billion baht.
As a result, the company lost its longstanding main revenue business but received a large cash influx and significantly reduced its debt burden.
Currently, JAS's business structure shows over 75% of its revenue comes from digital technology through JTS, which operates bitcoin mining, cloud services, and digital infrastructure.
Meanwhile, its internet TV and media content business is being developed as the new primary growth engine via Mono Next Public Company Limited (MONO), which has rebranded from a foreign movie and series channel to a full-fledged sports station through MONO29 and the Monomax platform, supporting the strategy to own global sports rights.
At the end of 2024, JAS surprised Thailand's stock market and sports circles by announcing it had secured the broadcast rights for the English Premier League and FA Cup for six seasons, covering Thailand, Laos, and Cambodia, in a deal worth over 19 billion baht.
Most recently, on 11 June 2026, the company advanced its sports content strategy by announcing an agreement to acquire the broadcast rights for the FIFA World Cup 2026 in Thailand, just one day before the tournament's opening match.
Today, the company held a major press conference around 3:00 p.m. to detail the rights acquisition for broadcasting all 104 matches from 11 June to 19 July, including securing rights for the 2030 World Cup, along with official package details and viewing platforms for Thai football fans.
However, at 3:00 p.m., the Stock Exchange of Thailand (SET) issued a statement urging investors to study information carefully, noting that earlier the company had only reported that the matter was under consideration by its board and that updates would be provided to the exchange later.
As of the SET statement, JAS had not reported the board's resolution on the matter. The exchange requested JAS to exercise caution in disclosing material information not yet made public and advised investors to study information thoroughly before trading.
Reviewing financials, although JAS received a large cash inflow from selling 3BB, recent performance during its transition phase suggests new revenue streams have yet to fully replace income from its former broadband business.
Looking at JAS's historical financial performance:
Most recently, in Q1 2026, JAS recorded total operating revenue of 1,527 million baht, up 44% year-on-year and 10% quarter-on-quarter, mainly driven by its media and sports content business, including Premier League broadcasts, subscriber base expansion, and initial revenue recognition from managing Premier League broadcast rights in Vietnam.
However, the company still reported a net loss of 726 million baht, an improvement from the previous quarter, but performance remains pressured by sports rights costs and content business expansion investments. Management noted the company is building its user base and expanding revenue from its sports content portfolio to support long-term growth.
Looking back over the past decade, JAS has been one of the most volatile stocks in the Thai capital market. At the end of 2016, its share price soared to 10 baht amid 4G spectrum auction speculation, but failure to meet conditions severely impacted investor confidence.
This led to a prolonged downtrend lasting several years and caused JAS to be frequently associated with issues of investor confidence and corporate governance.
Although its stock price has recently traded below 2 baht, every time news about global sports rights emerges, JAS shares immediately attract investor attention.
After announcing progress on the World Cup rights deal, JAS shares stood at 1.27 baht at 3:00 p.m. today, up 0.11 baht or +9.48% from the previous close.
However, zooming out, JAS's historical share price has yet to deliver positive returns to investors (as of the closing price on 10 June 2026).
Nonetheless, securing the 2026 FIFA World Cup broadcast rights marks a crucial step for JAS in rebranding itself from a telecom company to a full-fledged player in the sports content industry.
This path represents a major bet for the company because although the World Cup and Premier League attract massive Thai audiences, ultimately, the capital market will judge JAS’s success by its actual subscriber numbers, revenue, and profits.
Whether this bet will become the starting point for growth remains to be seen.
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