Back to announcement
20240801_MSIN_Laporan Informasi dan Fakta Material_31689871_lamp1.pdf
Other Text extracted MSINSource file signed link, expires in 15 minutes
Extracted text 6
Page 1
Jakarta, Indonesia - 1 August 2024
PT MNC DIGITAL ENTERTAINMENT Tbk
SUMMARY OF H1-2024 RESULTS
TOTAL REVENUE
(In Billion Rupiah) Revenue
PT MNC Digital Entertainment Tbk (IDX: “MSIN” or “the
Company”), a subsidiary of PT Media Nusantara Citra Tbk (IDX:
“MNCN”), reported revenues of Rp1,637 billion for the first half
of 2024. This represents a 6% decrease YoY from Rp1,736 billion
in the same period last year. However, on a QoQ basis, the
Company achieved a 15% increase in revenue, rising from
Rp761 billion in Q1-2024 to Rp876 billion in Q2-2024.
CONTENT, IP, AND TALENT REVENUE
(In Billion Rupiah)
Content, IP, and Talent Revenue
In H1-2024, the Company’s revenue from its content, IP, and
talent line fell by 5% YoY to Rp884 billion. This decline was
primarily attributed to a reduction in the number of available
slots for MSIN content during prime-time on MNCN’s FTA TV,
which coincided with the commencement of EURO 2024 in June.
DIGITAL ADVERTISEMENT REVENUE
(In Billion Rupiah)
Digital Advertisement Revenue
The Company’s digital advertising revenue dropped by 19% YoY
to Rp654 billion, influenced by macroeconomic conditions that
directly affected advertising spending on digital platforms in
Indonesia. However, there was a 32% increase in digital
advertising revenue QoQ, rising from Rp372 billion in Q1-2024
to Rp654 billion in Q2-2024.
1
Page 2
SUBSCRIPTION REVENUE
(In Billion Rupiah) Subscription Revenue
Subscription revenue reached Rp189 billion in Q2-2024, marking
a 51% YoY increase from the previous year. On a QoQ basis,
subscription revenue grew by 45%. This growth was driven by a
combination of high-quality sports content, including various
Indonesian national soccer matches, RCTI Premium Sports, and
EURO 2024. For the first half of 2024, subscription revenue rose
by 28% YoY, climbing from Rp249 billion to Rp320 billion.
DIRECT COST
(In Billion Rupiah)
Direct Cost
Direct costs fell by 9% YoY to Rp1,004 billion. This decrease
resulted from reduced content production for MNCN due to the
Analog Switch Off (ASO) impact, leading MNCN to produce more
independent content in its television studios and adjust slot
allocations for the start of EURO 2024 in Q2-2024. Additionally,
the use of Movieland, which lowers production expenses for
content made at that facility, also contributed to the cost
reduction.
EBITDA NET INCOME EBITDA & Net Income
(In Billion Rupiah) (In Billion Rupiah)
In the first half of 2024,
EBITDA increased by 1% YoY
to Rp488 billion, with EBITDA
margin rising to 30%. Net
income also improved by
24% YoY to Rp306 billion,
reflecting a net income
margin of 19%. Both EBITDA
and net income experienced
substantial quarterly growth
from Q1-2024 to Q2-2024,
rising by 34% and 61%,
respectively.
2
Page 3
Business Updates
Content Production
MSIN operates in the content and digital entertainment sector, known for its extensive portfolio of
content that includes a wide range of genres such as drama, infotainment, reality shows, and
animation. The company is well-regarded for its substantial output of free-to-air (FTA) content and
has also made notable progress in creating cinematic films and original programming designed for
OTT platforms.
Movieland
Enhancing its content production capabilities through the establishment of Movieland, a vast 21-
hectare outdoor production facility located in SEZ MNC Lido City. This facility is designed to
improve on-screen quality and boost production efficiency, highlighting MSIN's dedication to
sustainable innovation and excellence. As of June 2024, approximately 68% of the construction on
the entire site is complete, and various production activities have already been underway at
Movieland.
3
Page 4
Social Media
MSIN's broad presence on social media, across major platforms like Youtube, Facebook, and
TikTok through multiple channels, including multi-channel network (MCN), reinforces its leading
position in the social media space. By June 2024, the Company boasts 586.6 million subscribers/
followers, generating an average of 1.5 billion views per month.
Source: MNC Internal Research – June 2024
Online Portal and OTT (RCTI+ and Vision+)
In its digital operations, the Company has optimized its online portal activities, attracting around
40 million monthly active users (MAU) under iNews Media Group. This consolidation aims to
enhance synergy and efficiency across MNC Media & Entertainment subsidiaries.
The Company also runs two OTT superapps, RCTI+ (AVOD) and Vision+ (SVOD), which together
attract nearly 110 million monthly active users and over 2.8 million paid subscribers. With the start
of EURO 2024 from late June through July, this number is expected to grow substantially in the
near future.
Source: Google Analytics – June 2024
4
Page 5
Comments From Valencia Tanoesoedibjo, Director of MSIN
“ Although challenges persist in 2024, I am satisfied with the progress we have made. The
Company has effectively grown its OTT subscriber base and maintained a strong digital
presence. Ongoing enhancements to our OTT superapp platforms are expected to drive
continued product growth. Additionally, MSIN has successfully negotiated several agreements
with regional OTT platforms and has managed to export high-quality content internationally,
broadening its reach beyond Indonesia. Looking ahead, we are dedicated to actively advancing
our digital business lines and staying adaptable to emerging trends.
Summary of Key Financial Performances H1-2024
”
Income Statements Actual Variance
In IDR mio H1-2024 H1-2023 YoY
Revenues 1,636,859 1,735,835 -6%
Content & IP, Talent 883,792 928,530 -5%
Digital 653,738 802,758 -19%
Subscription 319,710 249,035 28%
(elimination) (220,381) (244,488)
Direct Cost *) 1,004,497 1,103,516 -9%
Depreciation and amortization 36,656 31,870 15%
Gross profit 595,705 600,449 -1%
Gross profit margin 36% 35%
General & Administrative expense *) 144,755 147,713 -2%
Depreciation and amortization 117,238 138,562 -15%
EBITDA 487,606 484,606 1%
EBITDA Margin 30% 28%
Net Income 305,663 246,778 24%
Net income margin 19% 14%
5
Page 6
For further information, please contact: PT MNC DIGITAL ENTERTAINMENT TBK
Investor Relations: MNC Tower, 29th floor
Luthan Fadel Putra Jl. Kebon Sirih Kav 17 - 19
luthan.putra@mncgroup.com Jakarta 10340
Phone: 62-21 3913338
Fax : 62-21 3910454
Disclaimer
By accepting this Press Release, you are agreeing to be bound by the restrictions set out below. Any failure to comply with
these restrictions may constitute a violation of applicable securities laws. The information and opinions contained in this
Press Release have not been independently verified, and no representation or warranty, expressed or implied, is made as to,
and no reliance should be placed on the fairness, accuracy, completeness or correctness of, the information or opinions
contained herein. It is not the intention to provide, and you may not rely on this Press Release as providing, a complete or
comprehensive analysis of the condition (financial or other), earnings, business affairs, business prospects, properties or
results of operations of the company or its subsidiaries. The information and opinions contained in this Press Release are
provided as at the date of this presentation and are subject to change without notice. Neither the company (including any
of its affiliates, advisors and representatives) nor the underwriters (including any of their respective affiliates, advisors or
representatives) shall have any responsibility or liability whatsoever (in negligence or otherwise) for the accuracy or
completeness of, or any errors or omissions in, any information or opinions contained herein nor for any loss howsoever
arising from any use of this presentation. In addition, the information contained in this Press Release contains projections
and forward-looking statements that reflect the company’s current views with respect to future events and financial
performance. These views are based on a number of estimates and current assumptions which are subject to business,
economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in
many cases are outside the control of the company and its directors. No assurance can be given that future events will
occur, that projections will be achieved, or that the company’s assumptions are correct. Actual results may differ materially
from those forecasts and projected. This Press Release is not and does not constitute or form part of any offer, invitation or
recommendation to purchase or subscribe for any securities and no part of it shall form the basis of or be relied upon in
connection with any contract, commitment or investment decision in relation thereto. Any investment in any securities
issued by the company or its affiliates should be made solely on the basis of the final offer document issued in respect of
such securities.
6
Names mentioned 2 people and organisations named in the text · linked when the evidence is strong
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
No extraction attempted yet.