Outstanding Financial Performance
SCMA posted the outstanding performance in 1Q18. It was portrayed by the ads revenues growing by 15.1% on yearly basis inevitably soared the 1Q18’s net revenue by 15.0% y-y to IDR1.16 trillion. As such, the net profit surged by 19.3% y-y to IDR359 billion.

On the other side, the surge of 21.9% in program materials costs was a logical takeaway for the decline in gross margins from 59.4% in 1Q17 to 58.2% in 1Q18. However, the costs likely whittle away in 2Q18 along with the end of Champions League.

Leaning on Audience Share
The audience share settling at the highest position from December to April 2018 was an integral driver for the growth of 1Q18’s ads revenue. The highest audience share was bolstered by SCMA’s 3 local-soap-opera programs settling at the top 10 program series from January to mid of May 2018.

The decline in SCMA’s audience share of May signified that the Ramadhan programs produced by MNCN were the preferred shows. Moreover, the 2018 World Cup aired by Trans Media likely whittles away SCMA’s audience share until late 2Q18. However, the Asian Games held in the mid of August is a potent driver 3Q18 performance as SCMA reserves the license of Asian Games.


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