PT Media Nusantara Citra Corporate... · 2020-01-22 · Indonesia Advertising Market Share •Given...
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PT Media Nusantara Citra
Corporate Update
January 2020
Listed and traded on the Indonesia Stock ExchangeSTOCK CODE: MNCN
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5. Four National FTA with the largest audience share of 40% and adspend share of 45%.• 40% audience shares translate to more than 100 million viewers daily, the largest in
the country even if it’s compared to any social media platform.• Launched its streaming (OTT) service called RCTI+.
7. The Largest Library with more than 300K hours, consisting of more than 60% non news.
6. The Largest Content Production of 23K hours yearly in long, mid and short formats:• 40% market share in drama or close to 5,000 hours of drama production yearly.• 80%+ market share in talent search & animation.
8. The Largest Talent Management with close to 400 talents under management with 5 + 5 years option to extend.
9. Started MCN (Multi Channel Network) on YouTube in August 2019 and
generating 1.63billion views and 11million subscribers in just a month. Including MNCN Channels on Youtube, the total number of views reached 20.1billion with 42 million subs by the end of August 2019.
10. Owning the largest sites called Okezone (#1 above Google #2) and
Sindonews (#6) based on Alexa measurement.• Okezone has more than 19 million UV daily• Okezone is ranked #27 globally.
11. Strong growth in digital advertising revenue• Derived from mobile apps, general/news portal, YouTube revenue share• Excluding future digital revenue from RCTI+ and MCN.
12. Strong growth in Non Time Consuming Ads (NTC Ads) in the
form of built in, virtual and squeeze frame as well as equity link.
13. 9M 2019 financial performance: • YoY revenue to $442mn, up 12%• YoY EBITDA to $197mn, up 19%• YoY profit to $125mn, up 61%
1. GDP hit more than $1trillion for the first time in 2018 with annual growth rate between 5-6%.
2. Large population of 267 million people, growing by 3-4 million people
every year for the next 15 years.
3. Significant upside potential for adspend growth since adspend to GDP ratio is only 0.2%, one of the lowest in Asia.
4. Adspend on National FTA and digital will grow from 80% to close to 90% of the national adspend in the next 3-4 years.
MNCN Key Investment Highlights
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14. Fast growing digital and content revenue:• In 9M 2019, growing by 49%
YOY, contributing 25% of the total revenue.
• Projected to contribute more than 40% in 2022 and more than 50% in 2024.
At 15x P/E multiple, stock price is equivalent to Rp2,500.
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Macro Drivers Support Industry Growth
54,9
55,1
5,3
5,5 5,5 5,5 5,5
2014 2015 2016 2017 2018 2019 2020 2021 2022
• A large & young population, 226mn people below age of 54; growing by 3 to 4 Million people every year for the next 15 years.
• A rising middle class group will grow the advertising expenditure in line with GDP growth
• A stronger growth will be driven by more robust private investment activities and acceleration of infrastructure development
What are the macro drivers?
Source : Indonesian bureau of statistic 2019 report
27%
17%
43%
8% 6%
0 - 14 15 - 24 25 - 54 55 - 64 65+
A Young Population (2018)
265
10795
69 32 6
1.148.253
323.680 186.326
437.515 383.304 319.915
0
50
100
150
200
250
300
Indonesia Philippines Vietnam Thailand Malaysia Singapore
Population US$ Real GDP
* In Millions
Population & Real GDP (US$) (2018) *
Indonesia Growth of Real GDP (%)
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The Largest Fully Integrated Media Company in Southeast Asia
DIGITALCONTENTFREE-TO-AIR TV
CONTENT LIBRARY
Content library contains more than 300,000 hoursand increasing by more
than 23,000 hours per year
PRODUCTION (Short – Mid – Long Form)
64%
• RCTI +
• Digital broadcast & MCN
• News portal
• Radio Aggregator Apps
• User Generated Content (UGC)
ENTERTAINMENT
Entertainment FTA focusing on family audience
Largest news TV and provide news programs to the Group’s 3 entertainment
FTA
PUBLIC
36%
INFORMATION & SPORTS
TALENT MANAGEMENT
The biggest talent management company in
Indonesia with more than 380 talents under exclusive
contract
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Indonesia Advertising Market Share
• Given the infrastructure constraint, TV is the only medium to reach a mass audience.
• TV advertising is expected to maintain a dominant market share
• A more stable economic growth will boost ad spend, TV advertising should trend at a 5% CAGR between 2017-22
• 94% smartphone penetration among online users, grew from 40% in 2013.
2018
2022
TV, 64%Internet, 16%
OOH2%
Print, 16%Radio, 2%
TV, 62%
Internet, 25%
OOH2%
Print; 10%
Radio1%
-
5.000.000
10.000.000
15.000.000
20.000.000
25.000.000
30.000.000
35.000.000
40.000.000
2015 2016 2017 2018 2019 2020 2021 2022
TV Internet Print & Related Other
Indonesia Advertising – By Media (in Rp Mill)
Source : MPA 2018 report, adjusted
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The Largest Audience Share & FTA TV Advertising Market Share
• MNCN continued to produce top dramaseries and successfully fulfilled demandon high quality Indonesian culture-basedentertainment
Source : Nielsen Prime Time FY-2019
37 39 40 43 43 45
26 28 2824 26 24
1814 12 12 10 10
14 1415 17 15 13
4 4 4 4 4 40 0 1 1 1 0
2014 2015 2016 2017 2018 9M-2019
MNC Group Emtek Group Trans Corp
Viva Group Metro TVRI
• MNC Group dominates Advertisingmarket share amongst all FTA TVStations in the nation
• Content is the only way to captureaudience share and monetize advertisingdollars
• MNC sells different forms of advertisingfrom filler TVC, built-in, virtual ads,mobile ads and other creative ads
Indonesia FTA TV Advertising Market Share
35,3 36,7 37,239,4
29,1
36,4
44,8
38,435,1
39,0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019*
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MNCN Audience Share 2008 – 2019*
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TV Advertising Revenue
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Build-In AdvertisingConventional TVC
Advertising Revenue Stream
Virtual Advertising on Drama Series (TOP) Squeezed Frame Advertising
• Conventional TVC (15” and 30”) during
commercial break
• Creative ads/ Non Time Consuming ads
(Built-in, Virtual Ads, Squeeze Frame,
etc)
• Equity Link (Air time and Content
Library)
• Localized RTX* & Geo-tagging TVC*
• Digital Ads : Digital Broadcast, Social
Media (including original content),
Online Portal, UGC, MCN, RCTI+
*will be launched soon
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Local Animation
Reality Program
Infotainment
Talent Search*
Drama Series* 41%
33%
32%
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• Generating highest revenue per one hour broadcast
CONTENT LIBRARY LICENSING(FTA, DTH Pay TV, IPTV, Mobile/Streaming, OTT)
• Produces around 23,000 hours of content annually.• Owns more than 300,000 hours of content library with
breakdown of 60% non News and 40% News content.
LOCAL CONTENT
IN-HOUSE PRODUCE
80%
95%
CONTENT PRODUCTION(group & non-group)
Short, Mid, and Long Form
• Content produced in-house include Drama, Talent Search, Animation, Sitcom, Movie, Reality, Infotainment, Variety, Talk Show, News.
more than 80%
Content Revenue
more than 80%
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The Largest Content Producer and Library Owner
ContentVARIETYTALENT SEARCHDRAMA ANIMATION SITCOM REALITY INFOTAINMENT TALK SHOW NEWS
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The Best Talent Search Program
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41%
Sinemart24%
Mega Kreasi13%
Verona Pictures6%
Tobali5%
Cakrawala3%
Others…
MNC Pictures Sinemart Mega Kreasi Verona Pictures Tobali Cakrawala Others
Drama Series Production – Indonesia Market Share
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Source : Actual On-Air, internal research 8M-2019
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Star Media Nusantara: Talent Management
SingingCompetition
Nowella2014
Giselle2008
Citra Scholastika2010
Ajeng Astiani2015
Aldy Saputra2015
Angela July 2015
Christoper Edgar2016
Sharla Martiza2017
Kim Kimberly2017
AndmeshKamaleng
2017
Trio Wijaya2016
Indah Nevertari2014
Mahesya2015
Yogie2015
Dahlia2015
Chef / CookingContest
Deny 2015
Luvita2015
Brian 2013
Afif Winner2014
Zidan2014
Patrick2014
Navis Aditya2017
Sharon2017
ChristoperLaurensius
2016
Other TalentSearch
Achintya Nilsen2017
Natasha MannuelaH 2016
Maria Harfanti2015
Boy WIlliam2010
Libra Akila2011
Okky Julian2013
Oge Arthemus –
Season 1, 2009Master Limbad –
Season 2, 2009Bow Vernon
Season 5, 2012
Ayu Ting Ting2010
Lolita Agustine2010
Dede2014
B Force2017
Soul Sisters2017
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• The biggest talent management company in Indonesia with more than 380 talents with variousbackground under exclusive contract (5 years + 5 years).
• The Company manages national talent to perform in TV shows (group or non group), radios,off air events and OOH/TV commercial.
• There is a revenue split between talent and the Company for all bookings, includingendorsements on their respective social media platforms.
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Digital Mobile/ Online Advertising Revenue
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• Digital Broadcast
• Social Media (Library & original content, etc)
• Library/channel licensing to digital platform
• Online portal, UGC, MCN
• RCTI+
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Digital Broadcast
Digital quiz interactive where user can answer al the questions on TV via RCTI Mobile. The
questions will be appeared in a form of template with 110 sec. The questions consist
of product knowledge from brand and program
Second Screen Quiz Interactive Second Screen Activity
Brand activation on RCTI Mobile where users can send their comments and upload their photos which inline with brand campaign
Second Screen Live Chat
Users can access live streaming on RCTI Mobile as well as having interactive with
another user using chat feature
Banner Random
Native Ads
Pre Roll
A small picture on top of page with landing page
Bigger than banner, native ads are in the middle of the page. Brand can put their landing page on native ads
TVC with 15 sec duration. Pre roll will appear before the video content
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Most watched Indonesia YouTube contentcomes from our short clips drama series
Source of Revenue from Youtube 1
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Number One YouTube TV Views & Subscribers in Indonesia
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Source : MNC Research, as per December 2019
MNC GROUP61.090.712
TRANS CORP28.265.219
NET 24.610.580
EMTK GROUP21.009.380
KOMPAS12.097.094
VIVA GROUP12.055.259
METRO2.009.197
RTV3.647.877
*Including Twitter, FB, IG, the total subscribers reach over 92 million, the largest in South East Asia
MNC Media vs CompetitorsVIEWS (IN BILLION)
12.2 11.510.4
6.13.4
MNCGROUP
TRANSCORP
NET EMTKGROUP
KOMPAS VIVAGROUP
24.1
MNC Media vs CompetitorsSubscribers
MNCN Nationwide Youtubemarket share:
4.73% 2.19% 2.50%
Note: Data for Youtube Indonesia
Views Subscribers Video Uploads
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Maximize Brand’s Presence Through Engaging
WebSeries Ads
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Source of Revenue from Youtube 2
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Star Hits – Leading Digital Network
• Star Hits is a digital network that develops content creators, talent or influencers, to cooperatewith the brand and to create the ecosystem that are connected in the content.
• Owns various channels under star hits family brand, which focuses on various different genres.• Currently, Star Hits also coordinates all of MNC Group’s channels in all social media.• Star Hits has received MCN (Multi-Channel Network) license from Youtube in July 2019.
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MCN (August - December):• 21.6mn subscribers• 2.4bn views
MCN + Non – MCN (2019)• 61.1mn subscribers• 24.1bn views
Source of Revenue from Youtube 3
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ALEXA RANKSTop Indonesian Sites
MNC Group “News Portal” ranked #1 and #6 in Indonesia
Note : For News portal, Okezone.com is ranked #1 (20mn daily UV) and Sindonews.com #4
1. Okezone.com
2. Google.com
3. Tribunnews.com
4. Youtube.com
5. Detik.com
6. Sindonews.com
7. Kompas.com
8. Liputan6.com
9. Bukalapak.com
10. Grid.id
11. Blogspot.com
12. Google.co.id
13. Idntimes.com
14. Kumparan.com
15. Yahoo.com
16. Suara.com
17. Kaskus.co.id
18. Kapanlagi.com
19. CNNindonesia.com
20. Alodokter.com
*Update 30 August 2019
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Welcome to RCTI+ Mobile Apps
• Single & Multi Camera Views for Streaming• Catch up TV
Excellent Live
Streaming
• FTA Programs - Current and Library• Extended Content –Rejuvenated Library Content,
Fresh Extended Content, and FTA Unaired Content (bloopers and behind the scene)
• Creative Contents: Quiz, Reward system, Original short & mid form content, Audition, News clips, Radio,etc
• Content Partners - (SMN & Third Party Partners)
Creative Content
• A spectacular extension of RCTI, MNCTV, GTV, and iNews FTA TV which is available for free via Apps (iOS & Android).
• MNC is digitally all in!
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MNC Integrated Studios Facilities
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MNCN 9M-2019 FINANCIAL PERFORMANCE Expanding our source of revenue through NTC ads, Digital ads, and Content
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Income Statements Variance Variance
In IDR mio 9M-2019 9M-2018 YoY Q3-2019 Q3-2018 YoY
Revenues 6.271.085 5.530.036 13% 2.019.116 1.840.492 10%
Advertisement 6.036.006 5.360.684 13% 2.003.262 1.817.074 10%
Digital 502.995 106.825 371% 177.780 29.199 509%
Non-digital 5.533.011 5.253.859 5% 1.825.482 1.787.875 2%
Content 1.292.132 1.095.447 18% 379.234 334.544 13%
Others 81.458 192.871 -58% 26.706 27.221 -2%
(Elimination) (1.138.511) (1.118.966) (390.086) (338.347)
Direct Cost *) 2.242.300 2.105.033 7% 754.716 708.923 6%
Depr & amort in Direct Cost 145.041 143.798 1% 53.629 50.063 7%
Gross profit 3.883.744 3.281.205 18% 1.210.771 1.081.506 12%
Gross profit margin 62% 59% 60% 59%
General & Administrative expense *) 1.230.652 1.095.296 12% 375.255 350.471 7%
Depreciation and amortization 194.314 194.814 0% 67.270 57.389 17%
EBITDA 2.798.133 2.329.707 20% 889.145 781.098 14%
EBITDA Margin 45% 42% 44% 42%
Net Income 1.775.643 1.091.261 63% 555.780 388.198 43%
Net income margin 28% 20% 28% 21%
Actual Actual
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MNCN Q3-2019 VS Q3-2018Our digital initiative consistently supporting our revenue growth while the cost maintained efficiently
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Digital : • Digital Broadcast• Social Media (Library & original
content, etc)• Online portal
Non Digital Advertising : • Conventional TVC• Creative ads/ NTC ads• Equity Link
Content :• Content Production(in-house & third party)• Content Library
Others :• Talent Management• Print (being down sized)
Income Statements Variance
In IDR mio Q3-2019 Q3-2018 YoY
Revenues 2.019.116 1.840.492 10%
Advertisement 2.003.262 1.817.074 10%
Digital 177.780 29.199 509%
Non-digital 1.825.482 1.787.875 2%
Content 379.234 334.544 13%
Others 26.706 27.221 -2%
(Elimination) (390.086) (338.347)
Direct Cost *) 754.716 708.923 6%
Depr & amort in Direct Cost 53.629 50.063 7%
Gross profit 1.210.771 1.081.506 12%
Gross profit margin 60% 59%
General & Administrative expense *) 375.255 350.471 7%
Depreciation and amortization 67.270 57.389 17%
EBITDA 889.145 781.098 14%
EBITDA Margin 44% 42%
Net Income 555.780 388.198 43%
Net income margin 28% 21%
Actual
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24
78
183
325
H1-2018 H2-2018 H1-2019
Digital Revenue (in IDR bio)
1.466 1.5191.292
FY-2017 FY-2018 9M-2019
Content Revenue* (in IDR bio)
The Emerging Content and Digital Ads Revenue
*Before elimination
• There is a strong growth in our digital andcontent revenue. Both have alreadycontributed to 25% of the total revenue.
• The Company expects that by 2022, itwill reach more than 40% of the totalrevenue.
• By 2024, it will contribute more than 50%of the total revenue.
• Moving forward, It is expected that ourearnings in digital and content willincrease significantly with the inclusion ofMCN and RCTI+, which were introducedin August 2019.
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Thank You
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For further information, please contact Investor Relations Division:
PT Media Nusantara Citra TbkMNC Tower 29th Floor
Jl Kebon Sirih No.17-19Jakarta 10340, Indonesia
Tel: 62-21 3913338Fax: 62-21 3910454
Website: www.mnc.co.id