Throttled by Foreign Exchange Loss
MNCN posted a slight slid in 1Q18’s performance. On annual basis, its revenues whittled away by 0.45% to IDR1.6 trillion despite the growth of 0.69% y-y to IDR1.54 trillion amid the sluggish audience share performance as of late-2017. In tandem with a sound ad revenue, the content revenue was buoyant by 82.39% y-y to IDR312 billion.
In contrast, the gain position on foreign exchange account upended in a loss bore hurdles for 1Q18’s bottom line performance. The net margin underperformed from 26.0% in 1Q17 to 17.1% in 1Q18 so did the net profit snapping lower by 34.60% y-y to IDR274 billion.
Jostling for Making the Most of Ramadhan Moment
MNCN succeeded to make the most of Ramadhan moment for securing audience shares though thematic local soap operas. As of May, MNCN outperformed SCMA — the market leader as of December 2017. In June it asserted its domination by the stellar all-time and prime-time audience shares of 32.3% and 34.2%, respectively.
In 2018, it focuses more on strengthening its TV and digital contents, and differentiates more its TV contents amid intense competition with the special program aired by its peers.
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