This Media Company Owned By The Conglomerate Eddy Kusnadi Sariaatmadja Receives Rp1.23 Trillion From Advertising In The First Quarter Of 2021

JAKARTA - Advertising spending appears to have started to increase since entering the beginning of 2021. One of the media companies, namely PT Surya Citra Media Tbk (SCMA) was also able to reap higher revenue in the first quarter of 2021, thanks to increased advertising revenue.

Quoted from Surya Citra Media's financial report published on the Indonesia Stock Exchange (IDX) website, Sunday, May 2, the company's revenue from conglomerate Eddy Kusnadi Sariaatmadja increased 7.69 percent to IDR 1.4 trillion in the first quarter of 2021 when compared to IDR 1.3 trillion. trillion in the same period last year. The revenue of the three SCMA compact segments increased.

Television advertising revenue rose 3.36 percent to Rp 1.23 trillion. Digital revenue and outdoor advertising shot up 52.28 percent to IDR84.06 billion. Other content revenue jumped 49.58 percent to IDR88.70 billion.

As a result, the net profit of the owners of SCTV and Indosiar increased 6.42 percent to IDR331.53 billion from the previous IDR311.52 billion. The smaller increase in SCMA's profit was partly due to a surge in financial expenses which reached IDR17.76 billion from IDR391.27 million previously.

The increase in finance costs covered a surge in the share of the associates' earnings. SCMA recorded the share in the profit of associates of IDR9.77 billion, rose 41.18 percent on an annual basis. This increase was mainly derived from Whisper Media Pte Ltd's share of profits.