Update Perusahaan Juli 2016

Listed and traded on the Indonesia Stock Exchange
STOCK CODE: MNCN
PT Media Nusantara Citra Tbk.
Corporate Update
July 2016
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2
Section 1
MNC Media Corporate Structure
MNC Media Corporate Structure
Global Mediacom Tbk
64.6%
Content and Advertising
Based Media
PT Sky Vision Network
Subscription Based Media
84.4%*
Media Nusantara Citra Tbk
MNC Sky Vision Tbk
Online Media
100%
PT MNC Kabel Mediakom
* including MNC Investama (BHIT) share ownership of 5.93%, total group ownership is currently 90.3%
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%
 60mn 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%
$40,000
0.3% 0.3% 0.3%
0.3%
0.2%
$16,400
Source: Media Partners Asia 2014
$5,400
$5,950
$6,600
Indonesia
Malaysia
Vietnam
$10,600
Thailand
Philippines Singapore
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
11%
4%
14%
48%
MNCN
SCMA
VIVA
Trans
23%
Others
Source: Nielsen Prime-Time all demography 1st week April 2016
9
ource: Nielsen based on GROSS Advertising Rate Card
Top Brands Advertising Spending FY2015 & FEB 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
Media viewership in 2015
Consumer Media View 2015 (%)
TV
96
OOH
52
People Owning Smartphone (%)
Internet
38
30
Radio
16
Print
Cinema
14
10
14
12
2013
Source: Nielsen Consumer Media View 2015
2014
2015
12
TV still Outweighs Growing Digital and Internet Consumption
% of daily internet user
71%
61%
Time Spent Internet in Daily (%)
vs
TV average of 5 hours per day
>3 hours
27%
32%
3 hours
73%
2011
2014
Source: Nielsen Consumer Media View 2015
2015
13
More People Are Watching TV Now Than a
Decade Ago, and millennials will come around, too
 The average American watches an astonishing 5 hours and 4 minutes of TV a day according to
Nielsen. This includes Live TV and Time-Shifted TV. TV’s cumulative audience or reach
increase, to 213.5 million people, or 87.9%. A year ago, reach was 210.3 million, or 87.6%.
 Americans aged 18 to 24, still watch 16.2 hours a week, whilst the 35 or older watch double that
in a week.
 About 50 percent of Americans now have subscription services like Netflix, Amazon Prime and
Hulu in their homes whilst The DVR numbers have held steady for the past year.
 More platforms more content, benefitting content provider.
http://www.nielsen.com/content/dam/corporate/us/en/reports-downloads/2016-reports/total-audience-report-q1-2016.pdf
14
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%
OOH; 2.0%
Radio; 1.3%
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 and Nielsen 2016
15
Section 3
MNC Update
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
17
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 has been completed in
2015, is set to increase production capacity and
quality of programming with efficient costs
18
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
ANTV
SCTV
IVM
MNCTV
TRANS7
GTV
TRANS
TVONE
METRO
INEWS
Target
Audience
Week II June
2016
ABC
ABC
ABCD
ABCD
ABCD
ABC
ABC
ABC
ABC
AB
AB
34.5
13.9
11.5
10.0
8.4
6.3
4.9
4.9
2.2
1.5
0.9
Source: Nielsen Prime-Time All Demographic Audience Share
19
Top 10 Drama Series as of YTD June 2016
• New drama series „Anak Jalanan‟ the #1 program
• 6 out of the Top 10 Drama belongs to MNC
No. Program Name
Chn
TVR
SHR
1
ANAK JALANAN
RCTI
7.9
34.1
2
TUKANG BUBUR NAIK HAJI THE SERIES
RCTI
4.6
21.0
3
UTTARAN
ANTV
4.1
25.6
4
TOP TUKANG OJEK PENGKOLAN
RCTI
3.3
18.9
5
3 SEMPRUUUL MENGEJAR SURGA 4
SCTV
3.2
23.7
6
SENANDUNG
MNCTV
3.1
13.5
7
MERMAID IN LOVE
SCTV
3.0
13.4
8
CATATAN HATI SEORANG ISTRI 2
RCTI
2.8
15.5
9
KAU SEPUTIH MELATI
RCTI
2.5
15.3
IVM
2.5
11.3
10 ADA APA DENGAN D
Source: Nielsen
20
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
21
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
22
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
23
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
24
Pay TV Channels to drive ad revenue for MNCN
OPPORTUNITIES



MNC Channels share of Pay TV audience in 2015
MNCN has produced and packaged 23 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
We expect MNC Channels to generate meaningful
advertising revenue as subscribers grow
FOX
15.71
MNC Channels
42.43
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
25
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
26
Section 4
Financial Update Media Nusantara Citra
Financial Performance from FY2012 until FY2015 (Audited)
FY2012 to FY2015 Financials
IDR trillion
13.61
8.96
6.27
6.52
6.67
14.47
9.62
9.40
7.29
6.44
9.57
7.74
2012
2013
2014
2.38
Revenue
2.72
2.78
2.40
2015
EBITDA
Assets
Equity
FY2012 to FY2015 Solvency Metrics
66X
51%
45%
56X
48X
38%
42%
42%
37%
2012
2013
23%
24%
2014
12X
Debt/Equity
Source: Company Financials
EBITDA/Interest
2015
EBITDA Margin
28
MNCN FS 1Q2015 VS 1Q2016
1Q2016
1Q2015
%
1,521,808
16,877
1,538,685
1,498,361
15,926
1,514,287
2%
6%
2%
Program and content expenses
Depreciation and amortization expense
Total COGS
628,676
28,430
657,106
702,251
16,310
718,561
-10%
74%
-9%
Gross Profit
881,579
795,726
11%
(363,923)
(47,294)
(264,837)
(44,427)
37%
6%
137,903
26,919
(142,792)
76,786
-197%
-65%
(2,792)
12,645
(994)
25,725
181%
-51%
(236,542)
(350,539)
-33%
Total Expense
893,648
1,069,100
-16%
Profit Before Tax
645,037
445,187
45%
(140,128)
(136,060)
3%
504,909
479,552
309,127
285,163
63%
68%
Revenue
Adv&Content
Others
Total Revenue
COGS
OPEX
SG&A
Finance cost
Loss on foreign exchange - net
Other losses - net
Equity in net loss of an associates
Interest income
Total OPEX
Income Tax Expenses
Net Profit
Attributable Net Income to Parent Entity
29
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.
30
Strong revenue growth with increasing EBITDA Margins
Room For Further Margins Improvement
47% - 48%
42%
42%
38%
37%
33%
2011A
Source : Company information
2012A
2013A
2014A
2015A
2018E
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





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








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
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Integrated Studio Facilities
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Thank You
For further information, please contact Investor Relations Division:
Christy Kusuma Atmaja
christy.atmaja@mncgroup.com
Teddy Pun
teddy.pun@mncgroup.com
David F. Audy
david.audy@mncgroup.com
PT Media Nusantara Citra Tbk
MNC Tower 29th Floor
Jl Kebon Sirih No.17-19
Jakarta 10340, Indonesia
Tel: 62-21 3913338
Fax: 62-21 3910454
Website: www.mncgroup.com