RCTI - mnc.co.id

Listed and traded on the Indonesia Stock Exchange
STOCK CODE: BMTR
MNCN
MSKY
PT Media Nusantara Citra Tbk.
Corporate Update
March 2016
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2
Section 1
MNC Corporate Structure
The Largest Integrated Media Company in Southeast Asia
FREE-TO-AIR TV
CONTENT
SUPPORTING
ENTERTAINMENT
IN HOUSE PRODUCTION UNITS
PRINT
TALENT SEARCH/ NEWS/
VARIETY/ SPORTS
DRAMA/ MOVIES/ FTV
ANIMATION
RADIO
RCTI, MNCTV,
GlobalTV, iNewsTV
MNC Sports
NEWS & SPORTS
CONTENT LIBRARY
PAY-TV CHANNELS
TALENT
MANAGEMENT
Content library contains
more than 270,000 hours
and increasing by more
than 15,000 hours per
year
4
Section 2
Indonesia‟s Media Industry Update
Macro drivers support industry growth
Population (2014)
A Young Population : 80% - Below 50yr
7%
Millions
1,362
What are the macro drivers?
8%
 A large & young population
26%
1,248
 200mn people below age of 50
 A rising middle class
251
99
71
30
24
 Strong economic growth driven
6
17%
42%
0-14
Source: MPA 2015
25-54
55-64
65+
Source: Indonesia Bureau of Statistics 2014
Completed Education Level
NA
22%
15-24
University
4%
Monthly Household Expenditure (Rp1,000)
E <600
5%
Academy
3%
D 601900
13%
Senior High
29%
C2 9011250
21%
Elementary
23%
3500
9%
 40mn TV household
 Only 4% of population has
university degrees
 Indonesians prefer to watch TV
than to read, watching 5 hours
of TV per day.
B 17512500
20%
C1 12511750
26%
Junior High
19%
Source: Indonesia Bureau of Statistics 2012
A1 3500
6% A2 2501-
by domestic consumption
Source: Nielsen Media Research
6
Net ad spend growth in the region
 Media Partners Asia forecasts net ad spend growth of 10% in 2015
 Growth is among the highest in the region
 Indonesia‟s ad spend is growing from a small base; we expect growth to be sustainable
Asia Pacific Net Adspend (2015 – 2016F)
Asia Pacific Net Adspend Growth (2015-2016F)
In USD billion
18%
2015
70.00
11%
60.00
56.9
2016E
50.00
11%
8%
8%
43.1
42.1
40.00
9% 9%
5%
3%
2015
61.9
2016E
30.00
5%
3%
4%
4%
3%
3% 3%
4%
2%
1%
3%
2%
20.00
1%
10.00
7.2
1.92.0
-3%
12.7
12.3
8.0
1.1 1.1
1.2 1.5 1.9 2.0 1.9 1.9
8.68.9
8.4
1.5 1.8 1.9
1.5 1.5
-3%
-3%
-82%
Source: Media Partners Asia 2016
7
Well Positioned in a Conducive Growth Environment
 Net ad spend as % of GDP is the lowest in the region indicating solid growth potential
 The price for a 30 seconds prime time spot is cheap compare to other ASEAN countries
Net Adspend as a Percentage of GDP (2013)
30 seconds prime time spot
In USD/spot
0.9%
$80,000
0.7% 0.7%
0.6%
0.6%
0.5%
0.4%
0.4% 0.4%
0.3% 0.3% 0.3%
0.3%
0.2%
$16,400
$5,400
$5,950
Indonesia Malaysia
Source: Media Partners Asia 2014
$6,600
Vietnam
$10,600
Thailand Philippines Australia
Source: Media Partners Asia 2016
8
Industry Dynamics
 Prime time advertising slots are limited; strong demand for advertising
 Local brands have been aggressive in advertising to compete with multi national companies
 We expect automotive and financial companies to increase TV advertising budget
Demand (More brands advertising on TV)
Limited Supply : Only 11 FTA TV stations
12%
3%
12%
49%
MNCN
SCMA
VIVA
Trans
23%
Others
Source: Nielsen Prime-Time all demography 1 – 22 January 2016
9
ource: Nielsen based on GROSS Advertising Rate Card
Top Brands Advertising Spending FY2015 & YTD 2016
10
Low Penetration Rates in Key Segments
Asia Pacific TV Penetration of Total Households (2013-2014)
100% 100%
100% 99%
100% 100%
100% 100%
96% 96%
99% 99%
97% 97%
97% 97%
93% 93%
85% 86%
82% 84%
61% 62%
58% 60%
2013
Korea
Japan
Singapore Hong Kong
Malaysia
Australia
Newspaper Circulation in Indonesia
6.0
Millions
China
Thailand
Taiwan
Vietnam
Philippines
India
2014
Indonesia
Internet Household Penetration in Indonesia
6.0
30.2%
27.1%
5.9
23.7%
5.8
18.0%
20.5%
5.7
2010
2011
Source: Media Partners Asia 2015
2012
2013
2014
2010
2011
2012
2013
2014
11
Indonesia‟s Media 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
 Online advertising to take market share from Newspaper and Magazine
2019F
2014
OOH; 2.2%
Radio; 1.3%
OOH; 2.0%
Online/Mobile;
7.3%
Radio; 1.1%
Online/Mobile;
10.5%
Magazines; 2.6%
Magazines; 2.4%
Newspapers;
20.4%
Newspapers;
18.2%
TV; 65.8%
TV; 65.5%
Source: Media Partners Asia 2015
12
Section 3
MNC Update
Our Key Growth Drivers
RCTI, MNCTV, and Global TV grow
significantly outperforming the industry
iNewsTV a national network with focus on
news, infotainment and sports
23 exclusive channels on MNC Sky Vision
to generate ad revenue
Integrated TV studios to be completed in
2015, is set to reduce programming and
operation cost
14
Content is King
Creating the best content is our top priority

Content is the only way to capture audience share
and monetize advertising dollars

Indonesians love “Sinetrons” and we broadcast many
of the top drama series

We have licensed popular International programs
such as Master Chef, Indonesian Idol and X Factor

Exclusive programming with top Hollywood studios

More than 270,000 hours of content library and
increasing by more than 15,000 hours annually

We also have 23 MNC branded Pay TV Channels.
These channels are integral to our content strategy
“Content is where I expect much of the real money will be
made on the Internet, just as it was in broadcasting.
The television revolution that began half a century ago
spawned a number of industries, including the manufacturing of
TV sets, but the long-term winners were those who used the
medium to deliver information and entertainment.”
“Content is King” by Bill Gates in 1996
Prime-Time Nielsen TV stations ranking
Rank
1
2
3
4
5
6
7
8
9
10
11
Station
RCTI
IVM
SCTV
MNCTV
ANTV
TRANS7
GTV
TRANS
TVONE
METRO
INEWS
Target
Audience
1- 22 Jan 2016
ABC
ABCD
ABCD
ABCD
ABC
ABC
ABC
ABC
ABC
AB
AB
31.0
12.5
10.9
9.5
8.6
7.4
7.0
4.7
3.2
2.9
1.0
Source: Nielsen Prime-Time All Demographic Audience Share
Share
15
Top 10 Drama Series as of 1 – 22 January 2016
• New drama series „Anak Jalanan‟ the #1 program
• 5 out of the Top 10 Drama belongs to MNC
No
Programs
Channel
TVR
Share
1
ANAK JALANAN
RCTI
7.9
35.8
2
TUKANG BUBUR NAIK HAJI THE SERIES
RCTI
5.0
21.5
3
UTTARAN
ANTV
3.9
28.2
4
TOP TUKANG OJEK PENGKOLAN
RCTI
3.8
21.7
5
KAU SEPUTIH MELATI
RCTI
2.9
16.5
6
PREMAN PENSIUN 3
RCTI
2.4
17.6
7
PANGERAN
SCTV
2.1
8.9
8
ELIF SEASON 2
SCTV
2.1
10.5
9
ANAK MENTENG
SCTV
2.1
10.1
10
ANTARA NUR & DIA
ANTV
2.0
9.4
Source: Nielsen
16
MONTHLY PRIME TIME AUDIENCE SHARE ALL DEMO 5+
Audience Share Prime Time (ALL DEMO)
35.00
RCTI
32.0
SCTV
29.5
30.00
30.4
25.9
25.00
21.3
19.5
20.00
15.00
18.0
17.9
17.3
13.1
14.2
19.5
18.2
17.7
16.5
16.2
19.9
17.6
17.2
15.0
17.6
18.0
17.3
15.1
15.0
10.00
11.4
10.8
9.0
5.00
.00
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Source: Nielsen
17
RCTI: Highest EBITDA Margin & most profitable TV station
EBITDA margins (%)
 RCTI generates the most revenue,
the biggest audience share, the best
power ratio and the highest EBITDA
margins of any Indonesian TV
stations
 An integrated end to end
programming strategy allows RCTI to
generate 25% higher annual revenue
than the number 2 competitor
 EBITDA margins of 55% is the
highest
 RCTI Power ratio of 1.4x vs. SCMA
at 0.9x
56
55
54
53
52
51
50
49
48
47
46
2012
2013
RCTI
2014
SCMA
18
Biggest producer of in-house content in Indonesia
Integrated end to end programming strategy drives highest margins
•
•
•
MNC produces over
15,000 hours of in house
content every year. 41
hours per day! More than
any competitors in
Indonesia.
Full control from talent
management to
production to broadcast
4 in house production
divisions: The
programming strategy
allows RCTI to achieve
industry leading 55%
EBITDA margins.
MNC
Animation
Star Media
Nusantara
SineMart
RCTI, MNCTV,
GTV and Sport
Productions
MNC
Pictures
19
MNC Has The Best Talent Search Format Lineup
Pioneering the international scale talent search programs in Indonesia, such as
Indonesian Idol - 8th season and running,
X-Factor Indonesia - 2nd season and running,
Rising Star Indonesia - The 1st Season with interactive talent search programs
MasterChef Indonesia - 3rd season and running
The Voice Indonesia – Aired February 2016
Our talent search programs are 3x more profitable than competing “In-house” dangdut singing competition
20
The most comprehensive Pay TV Channels line-up
 We have the most comprehensive Pay TV channel lineup in Indonesia
 Our customers prefer local content
 Producing content in Bahasa Indonesia is our competitive advantage
 We generate subscription revenue and advertising revenue
Sports
Movies
Lifestyle
News
Entertainment
Kids
Local content
means it is the leader in its Pay TV category
21
Top 20 Most Watched Pay TV Channels for 2015
NO.
CHANNEL
NO.
CHANNEL
1
CARTOON NETWORK
11
FOX MOVIES PREMIUM
2
S-ONE
12
MNC COMEDY
3
DISNEY CHANNEL
13
MNC KIDS
4
MNC SPORTS
14
LIFE
5
DISNEY JUNIOR
15
AXN
6
DISNEY XD
16
MNC MOVIE
7
MNC MUSLIM
17
MNC ENTERTAINMENT
8
CBEEBIES
18
MNC SHOP
9
MNC DRAMA
19
SOCCER CHANNEL
10
MNC INFOTAINMENT
20
MNC NEWS
Source: AGB Nielsen Report
22
Pay TV Channels to drive ad revenue for MNCN
OPPORTUNITIES




MNC Channels share of Pay TV audience in 2015
MNCN has produced and packaged 21 Pay TV channels
exclusively for MNC Sky Vision. In return MNCN receives
100% ad revenue
MNC Sports, MNC Infotainment, MNC News and MNC
Business, MNC Music Channel are ranked #1 in their
respective categories versus its International peers
In 2015 MNCN launched new
Auto&Gadget and Games Channel.
Channels
We expect MNC Channels to generate meaningful
advertising revenue as subscribers grow
FOX
15.71
MNC Channels
42.43
namely;
Rank Sports Channel
Channel Share
Rank News Channel
Channel Share
1
MNC SPORTS2
5%
1 MNC NEWS
2%
2
MNC SOCCER
2%
2 Fox News
0%
3
FOX SPORTS
1%
3 CNN INTERNATIONAL
0%
4
FOX SPORTS 2
0%
4 MNC WORLD NEWS
0%
Rank Lifestyle Channel
Channel Share Rank Music Channel
Channel Share
1
MNC INFOTAINMENT
3%
1 MNC MUSIC
1%
2
MNC LIFESTYLE
2%
2 CHANNEL V
1%
3
MNC FOOD AND TRAVEL
1%
3 TRACE
0%
4
MNC HOME AND LIVING
1%
4 NGC Music
0%
Rank Entertainment Channel
Channel Share
Rank Business Channel
Channel Share
1
S-ONE
7%
1 IDX CHANNEL
1%
2
MNC DRAMA
3%
2 CNBC Asia
0%
3
MNC Comedy
2%
3 Bloomberg
0%
4
AXN
2%
Source : Nielsen TV Audience Measurement 2015
Disney
13.53
Turner
9.43
Others
4.83
NBCU
1.89 Discovery
1.90
HBO
5.53
Sony
2.25
AMC Networks
2.49
Source: Nielsen TV Audience Measurement YTD September 2015
23
iNews TV the Largest National Network TV
Sabang
Banda Aceh
Lhokseumawe
Medan
Tarakan
Pematang
Siantar
Batam
Payakumbuh
Bukit Tinggi
Padang
■ Pekanbaru Pontianak
■
Jambi
Bengkulu
Lubuk Linggau
Lampung
Pangkal
Pinang
Tenggarong ■
Samarinda
Palangkaraya
Palembang
Manado
Gorontalo
Manokwari
Ternate
Palu
■ Biak
Mamuju
Pleihari
Kendari
Makassar
Cirebon
Semarang Bojonegoro
Jakarta
Sumenep
Bandung
■ ■
Surabaya
■
Tasikmalaya
■
■
■
■Singaraja
Purwokerto
Madiun
Magelang
Kediri
Bali Mataram
■■
Ambon Masohi
■ Nabire
Merauke
Kupang
Total : 51 Stations Nationwide
• iNews TV was launched on April 6th 2015
• Focusing on 24 hours news, entertainment and sports
24
Integrated Studio Facilities
25
Section 4
Financial Update Media Nusantara Citra
Financial Performance from 12M 2011 until 12M 2014 (Audited)
12M 2011 to 12M 2014 Financials
13.61
IDR trillion
8.80
5.39
6.27
6.52
8.96
9.62
9.39
6.83
6.67
7.29
7.74
2011
2012
2013
1.79
2.38
Revenue
2.72
2014
2.78
EBITDA
Assets
Equity
12M 2011 to 12M 2014 Solvency Metrics
66.23X
55.83X
47.73X
34%
33%
38%
42% 42%
40%
43%
46% 48%
54%
51% 50% 52%
2011
2012
2013
12% 10%
7%
Debt/Equity
Source: Company Financials
11.66X
EBITDA/Interest
2014
EBITDA Margin
3 TV EBITDA Margin
RCTI EBITDA Margin
27
MNCN Summary of Financial Performance
3Q2015 & 2014 – 9M2015 & 2014
3Q2015
3Q2014
YoY
Growth
Revenue
Contribution
3Q2015
9M2015
9M2014
YoY
Growth
Revenue
Contribution
9M2015
1,664
1,651
1%
99%
4,967
5,000
-1%
99%
36
20
80%
1%
64
44
45%
1%
Total Revenues
1,700
1,671
2%
100%
5,031
5,044
0%
100%
Operating Expenses
1,128
1,102
2%
3,154
3,132
1%
Income from Operations
572
569
1%
1,877
1,912
-2%
Net Income
-47
416
-111%
649
1,389
-53%
EPS
-3
29
46
99
Adjusted EPS (without unrealized forex
loss)
23
29
93
99
Core EBITDA
621
612
2%
2,020
2,041
-1%
Core EBITDA margin
37%
37%
-1%
40%
40%
0%
(In billion Rupiah)
Advertising and Content Revenues
Others
Source: Company Financials
28
RCTI Commands Highest Power Ratio
Channel
ADEX Nett Estimation 12M 2014
Revenue (in IDR billion)
2014
Revenue
Audience
2014
2013
Growth
Share
Share
Power
Ratio
RCTI
3,347
3,225
3.8%
21%
15%
1.4x
MNCTV
1,584
1,579
0.3%
10%
10%
1.1x
928
855
8.5%
6%
6%
0.9x
MNC Group
5,858
5,659
3.5%
38%
31%
1.2x
SCTV
2,674
2,633
1.6%
17%
17%
1.0x
IVM
1,390
1,073
29.5%
9%
12%
0.7x
EMTEK Group
4,064
3,706
9.7%
26%
29%
0.9x
Trans
1,567
1,899
-17.5%
10%
11%
0.9x
Trans7
1,260
2,212
-43.0%
8%
8%
1.0x
Transcorp
2,827
4,110
-31.2%
18%
19%
0.9x
ANTV
1,296
647
100.2%
8%
12%
0.7x
936
609
53.7%
6%
5%
1.3x
2,232
1,256
77.7%
14%
17%
0.9x
Metro
608
577
5.5%
4%
3%
1.4x
TVRI1
32
16
104.0%
0%
1%
0.1x
641
593
8.1%
4%
4%
1.0x
15,621
15,324
1.9%
100%
100%
1.0x
GTV
TVOne
VIVA Group
Others
Grand Total
Source : AGB Nielsen Arianna / Annual Report IDX & Adex Nett Assumption 12M 2013-2014 (In Billion)
• FY2014 advertising industry growth by 1.9% as advertisers held off spending due to election uncertainty and the debate on fuel
price MNC Group outperforms with 3.5% growth on revenue share.
• MNC Group has maintained its industry leading advertising market share and power ratio.
29
Core Business Growth
Revenue (in million)
4 FTA TV Stations
9M2014
9M2015 Growth Contribution
4,512,756 4,559,809
1%
91%
MNC Pictures (In-House Production)
57,866
132,643 129%
3%
Star Media Nusantara
27,794
35,894 29%
1%
Core Revenue Total
4,598,417 4,728,346
3%
94%
Total Revenue
5,044,132 5,030,962
0%
100%
 For 9M2015
 Core Business revenue Grow by 3% YoY
 MNC Picture revenue grow by 129% YoY, supported by the tremendous success of
 Indonesia Box Office movies : Di Balik „98 and 3 Dara, respectively the #4 and #5 Top Indonesia Box office 2015
 #1 Drama Series : Preman Pensiun
 Top Drama : Tukang Ojek Pengkolan
 Revenue of Star Media Nusantara, our talent management company, also increased by 29% due to increasing off air
demands.
30
Strong revenue growth with increasing EBITDA Margins
Room For Further Margins Improvement
47% - 48%
42%
42%
2013A
2014A
38%
33%
2011A
Source : Company information
2012A
2019E
31
Highly Qualified and Experienced Management Team
Hary Tanoesoedibjo
CEO, MNC Group





Kanti Mirdiati Imansyah
Director







Faisal Dharma Setiawan

CFO







Diana Airin
Director



Group President & CEO of MNC since March 2004
Founding shareholder and Group Executive Chairman of PT Bhakti Investama Tbk. since 1989
Currently holds positions in several other companies, including Group President & CEO of PT Global Mediacom Tbk. since
2002, President Commissioner of RCTI since 2008, President Commissioner of PT MNC Sky Vision (Indovision), President
Commissioner of Media Nusantara Informasi since 2008, President Commissioner of MNC Networks since 2008, President
Commissioner of MNC Pictures since 2007, and many other companies within MNC Media and Bhakti Investama Group
MBA degree from Ottawa University, Canada
Bachelor of Commerce (Honors) degree from Carleton University, Ottawa, Canada
Director Sales and marketing of RCTI from 2010 – 2012
GM Sales and Marketing manager and Director Sales and Marketing of CTPI from 2006-2010
AVP Sales and Marketing of Duta Visual Mandiri from 2003-2006
Head of Acquisition Manager of RCTI from 2002 – 2003
Sales Group Head Trans TV from 2000 – 2003
Sales Group Head & Account Executive1990 – 2000
Bachelor Degree of Science from La Jolla Academy of Advertising Arts and Associate Degree Fashion Merchandising from IFS
San Diego, USA
Chief Executive Officer in PT Asuransi Jiwa Adisarana WanaArtha in 2012
Vice Chief Finance Officer – Strategy & Finance in PT Bank CIMB Niaga Tbk. in 2009
Commissioner in PT CIMB Sunlife in2009
Commissioner in PT Asuransi CIGNA in 2009
Assistant General Manager in PT Indo Kordsa Tbk in 2000
Director of Pension Funds Indo Kordsa Director in 1996
Graduated from Prasetya Mulya, Graduate School of Management with “MM” degree in International Business in 2001
Graduated from Universitas Katolik Parahyangan with Civil Engineer Degree (Bachelor Degree) in 1984
President Director of PT. Media Nusantara Informasi, PT. MNC Networks (Radio), & PT. Cross Media International (Media
Buying Agency) since 2013
Director of Sales Marketing of Seputar Indonesia, SUN TV, High End & High End Teen, and Network Magazine in 2010
Bachelor Degree of Economy – Management from Tarumanegara University
32
Highly Qualified and Experienced Management Team
Ella Kartika
Director
Gwenarty Setiadi
Director
Charlie Kasim
Independent Director




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Managing Director in PT Global Informasi Bermutu in 2013
Programming & Production Director in PT Rajawali Citra Televisi Indonesia in 2011
Programming & Production Director in PT Global Informasi Bermutu in 2010
Sales & Marketing Director in PT Global Informasi Bermutu in 2008
Obtained Master of Management Program from University of Indonesia majoring in Finance & Banking in 1998
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Director of Human Resources and General Services in PT MNC Sky Vision Tbk in 2009
General Human Manager Human Resources and General Services in PT Media Nusantara Citra Tbk in 2008
Vice President (VP), Human Resources and General Services in Citibank in 2007
Vice President (VP), Head of Direct Sales Training Academy & HRRM in Citibank in 2005
Vice President (VP), Outsourcing Management Head in Citibank in 2004
Assistant Vice President (AVP), Sales Human Resources and Compliance Manager in Citibank in 2000
Manager, Sales Recruitment and Training Manager in Citibank in 1998
Graduated from University of Satya Wacana with Bachelor degree in Agronomy in 1982
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Deputy Finance and Technical Director in PT Rajawali Citra Televisi Indonesia in 2013
Finance Director, Technical Director, Operational Director and Head of Procurement of PT Cakrawala Andalas Televisi (ANTV) in
2011
Chief Finance Officer in PT. Visi Media Asia Tbk (VIVA) in 2007
Finance/HR/Sales Director & CEO at PT. Viva Media Baru (Previously vivanews.com, now VIVA.CO.ID) in 2008
Finance Director and Head of Procurement at PT. Lativi Media Karya (tvOne, previously known as Lativi) in 2007
Operational Director at PT. Fajar Bumi Sakti (coal mining company based in East Kalimantan) in 2005
Commissioner of PT. Bakrie Swasakti Utama (Bakrie real estate company handling Taman Rasuna Apartement, Pasar Festival and
Klub Rasuna) in 2003
Vice President for Collection of PT. Bakrie Finance Corporation Tbk in 2002
Obtained MBA in Finance from University of Houston in 1997
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President Director in PT Hikmat Makna Aksara (Sindo Weekly) in 2008
Corporate Secretary in PT Global Mediacom and PT Media Nusantara Citra in 2008 and 2010
Chief Editor in Global TV in 2011
Graduated from ITB (Institut Teknologi Bandung) with Bachelor of Civil Engineering degree in 1995
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Arya M. Sinulingga
Director
33
Thank You
For further information, please contact Investor Relations Division:
Christy Kusuma Atmaja
[email protected]
Teddy Pun
[email protected]
David F. Audy
[email protected]
PT Global Mediacom Tbk
MNC Tower 21st Floor
Jl Kebon Sirih No.17-19
Jakarta 10340, Indonesia
Tel: 62-21 3922949
Fax: 62-21 3910454
Website: www.mncgroup.com