eight during the creation of Hormones. It had 39 actors signed under its label at the beginning of that year. Most were young actors, catering to Nadao and GDH's target audience group of 15–30-year-olds. The company launched an in-house record label, Nadao Music, as a business unit in 2019. Aimed at opening up opportunities in music to its artists, its first release, "Rak Tid Siren" (, "My Ambulance"), the soundtrack to its 2019 series My Ambulance, became one of the most popular songs of the year. Singer Supol Phuasirirak was brought on as the unit's director and main producer. The company also launched a talent development unit, titled Nadao Academy, to recruit new members, in 2020. In 2022, the company ended its artist management as well as series and music production operations, effective June 1, citing its artists' growth and diverging priorities among its staff. GDH CEO Jina Osothsilp explained in an interview that the decision was made over the preceding two years, as Songyos felt he had run out of passion to continue with the current operation, and many opportunities were now available to its artists, the world having changed so that it was now much easier to self-manage as individuals compared to before. Operations Nadao Bangkok has an authorized capital of 2 million baht (US$60,000 in 2009), and is headquartered at 92/14 Soi Sukhumvit 31, Khlong Tan Nuea Subdistrict, Watthana District, Bangkok. Songyos is the company's largest shareholder and serves as its CEO. Before it ceased activity in 2022, Nadao Bangkok was 32% owned by Songyos, 30% by GDH, 10% by Hub Ho Hin Bangkok (GDH's minority owner), and 28% by others. Its board of directors included Boosaba Daorueng (CEO of GDH's majority owner GMM Grammy), GDH CEO Jina, Songyos, Rojjarek Luerojwong, and Jongjit Inthung (Nadao's senior artist manager). With the cessation of operations, GDH offloaded its stake in the company to Songyos at a price of 6,948,780 baht. Nadao did business in three main areas: artist management, production, and music. From 2016 to 2019, it reported increasing revenues from 166 million baht ($5M) to 392 million ($12M) and profits from 17 million baht ($500,000) to 40 million ($1.2M), which dropped to 313 million ($10M) and 29 million ($900,000) in 2020, when the COVID-19 pandemic hit. Its artist management business generated 60–70 percent of its revenue, and the rest was from production. (The music unit had not become