Advertising And Digital Business 'Help' This Company Owned By Conglomerate Hary Tanoesoedibjo Raise Revenue Of IDR 7.07 Trillion In The Third Quarter Of 2021

Conglomerate Hary Tanoesoedibjo. (Photo: Doc. Antara)

JAKARTA - PT Media Nusantara Citra Tbk. (MNCN) recorded performance growth in the third quarter of 2021. This was in line with the increase in advertising and digital business of the company owned by conglomerate Hary Tanoesoedibjo.

In MNCN's financial report, quoted on Monday, November 22, the company recorded revenue of IDR 7.07 trillion as of September 2021, up 19 percent year on year (yoy) from the previous IDR 5.96 trillion. Revenue was mainly contributed by advertising revenue of Rp6.74 trillion, up 22 percent yoy from the previous Rp5.52 trillion.

"The highest increase occurred in the digital segment, which was 111 percent yoy to Rp1.43 trillion from the previous Rp675.94 billion," said Hary Tanoesoedibjo, Executive Chairman of MNC Group, in his official statement.

MNCN also posted a net profit of IDR 1.81 trillion as of September 2021, up 25 percent from the previous 1.45 trillion. The profit margin also increased to Rp. 26 percent from the position of 24 percent in the third quarter of 2020.

"I am very happy with our business performance throughout this year. We will exceed the financial performance achievement in the pre-pandemic period in 2021," said Hary Tanoe.

The Company has managed to grow exponentially during this challenging period on an ongoing basis. In addition, MNCN's strategic partners help continue to develop the evolution of the digital line of business.

Hary said, MNCN maintains strong growth by continuing to focus and strive to enlarge its digital platform, namely RCTI+, as well as monetization of social media and company-owned portals.

The contribution from digital advertising is expected to continue to grow exponentially from 2022 onwards, with additional revenue from the game line. Meanwhile, in the free to air (FTA) market, the MNC Group has a 51 percent share in the advertising market, up as of September 2021, up from 39 percent in the third quarter of 2020.