Good News From MNC Studios, Conglomerate Hary Tanoesoedibjo's Ikatan Cinta Production House Earns Rp1.31 Trillion In Revenue In The Third Quarter Of 2021

Conglomerate Hary Tanoesoedibjo with his wife, Liliana Tanoesoedibjo. (Photo: Instagram @hary.tanoesoedibjo)

JAKARTA - PT MNC Studios International Tbk (MSIN) posted a brilliant performance in the third quarter of 2021. The soap opera studio house Ikatan Cinta owned by conglomerate Hary Tanoesoedibjo recorded significant revenue and profit growth in the first nine months of this year.

In MNC Studios' financial report published on the Indonesia Stock Exchange (IDX) website, quoted Monday, November 22, the company earned a total consolidated revenue of Rp1.31 trillion in the third quarter of 2021. This number increased by 26 percent year on year (yoy) compared to the third quarter of 2020 amounted to Rp1.04 trillion.

The company's net profit also increased by 70 percent yoy, from Rp124.3 billion last year to Rp211.2 billion in the third quarter of 2021. The net profit margin was recorded at 16.1 percent.

Director of MNC Studios, Valencia Tanoesoedibjo said, when social restrictions began to be relaxed with COVID-19 cases significantly decreasing, MSIN was able to produce more volumes of content.

"Our IP acquisition and monetization have also grown well because we have collaborated with various well-known partners. In addition, our social media presence and MCN continue to grow very rapidly because we are more effective in promoting and producing digital content," said Hary Tanoesoedibjo's son in official statement.

For information, the company's digital revenue also grew 123 percent yoy to Rp293.3 billion in the third quarter of 2021 from Rp131.5 billion in the same period last year. MSIN's digital revenue growth mainly comes from the company's productivity in digital content, as well as the company's monetization performance as the largest traffic generator on social media platforms.

To date, MSIN has more than 154.9 million subscribers and 47.8 billion views on YouTube, 57 million followers & 3.7 billion views on Facebook, and 101.5 million followers on TikTok.

Previously, PT Media Nusantara Citra Tbk. (MNCN) increased its share ownership in one of its subsidiaries, namely PT MNC Studios International Tbk (MSIN) by 160 million shares.

Media Nusantara Corporate Secretary Citra Cahyarina A. Asri said referring to the Financial Services Authority regulation No.11/POJK.04/2017 concerning Ownership Reports or Any Changes in Public Share Ownership, conveying the latest portion of MNCN ownership of MSIN.

"Through this letter, we submit a Report on Changes in Share Ownership of a Public Company," Citra wrote in the disclosure of information.

The parent company, MNCN, purchased 160 million MSIN shares, equivalent to 1.40 percent of the company's shares at a purchase price of Rp500 per share, so that if accumulated, MNCN spent as much as Rp80 billion.

This additional share purchase is aimed at direct ownership of investments.