MNC Media Earning Call Material 6M 2014
Listed and traded on the Indonesia Stock Exchange
STOCK CODE: BMTR
MNCN
MSKY
MNC Media
PT Global Mediacom Tbk.
PT Media Nusantara Citra Tbk.
PT MNC Sky Vision Tbk.
Earning Call 25th July 2014
6M 2014
Summary of Financial Performance
1H 2014 & 2013
(In billion Rupiah)
2Q 2014
2Q 2013
YoY Growth
6M 2014
6M 2013
YoY Growth
Advertising Revenues
1,733
1,634
6%
3,132
2,882
9%
Content
Others
Total Revenues
69
74
1,876
24
110
1,768
189%
-33%
6%
91
150
3,373
44
208
3,134
107%
-28%
8%
Operating Expenses
1,057
1,038
2%
2,030
1,928
5%
Income from Operations
819
730
12%
1,343
1,206
11%
Net Income
EPS
Core EBITDA
584
42
864
530
38
760
10%
11%
14%
973
70
1,429
953
68
1,283
2%
3%
11%
Core EBITDA margin
46%
43%
42%
41%
Forex Gain (Loss)
(8)
(20)
-59%
(1)
(17)
-93%
Gain on Investments
7
28
-76%
29
125
-77%
2
Summary of Financial Performance
1H 2014 & 2013
(In billion Rupiah)
Revenues
Operating Expenses
Income from Operation
Net Income (Loss)
EBITDA
EBITDA Margin
D&A
Interest Expense
Forex Gain (Loss)
Total
Total Subscribers (in 000)
2Q 2014
2Q 2013
YoY Growth
6M 2014
6M 2013
YoY
Growth
802
754
6%
1,577
1,450
9%
770
32
(149)
282
35%
631
123
(3)
306
41%
22%
-74%
-4867%
-8%
1,478
99
(14)
585
37%
1,204
246
31
600
41%
23%
-60%
-145%
-3%
250
(59)
(162)
29
183
(58)
(51)
74
YoY Diff
37%
-2%
-218%
-61%
486
(103)
(13)
371
354
(117)
(61)
176
YoY Diff
37%
12%
79%
111%
2,498
2,014
24%
3
Summary of Financial Performance
1H 2014 & 2013
(In billion Rupiah)
2Q 2014
2Q 2013
YoY Growth
6M 2014
6M 2013
YoY Growth
1,749
1,653
6%
3,131
2,882
9%
Subscribers Based Media
802
757
6%
1,577
1,450
9%
VAS and Others
293
230
27%
569
487
17%
Total Revenue
2,844
2,640
8%
5,277
4,819
10%
Operating Expenses
2,038
1,811
13%
3,911
3,431
14%
Income from Operation
806
828
-3%
1,366
1,388
-2%
Net Income
202
339
-40%
506
632
-20%
EPS
14
23
-39%
37
45
-18%
Core EBITDA
1,112
1,052
6%
1,959
1,838
7%
Core EBITDA Margin
39%
40%
37%
38%
Forex Gain (Loss)
(180)
(69)
160%
(18)
(83)
-79%
Gain on Investments
(36)
85
-143%
44
186
-76%
Advertising Revenues
• VAS revenue grew by 54% driven by Letang performance (with revenue from Mobile Games 2Q 2014 = USD 9.1
million which mainly contributed by top hits game “Bonnie Bears” or “Xiong Chu Mo”).
4
ADEX Nett Growth Q2 2014
Channel
RCTI
MNCTV
GTV
MNC Group
SCTV
IVM
EMTEK Group
Trans
Trans7
Transcorp
ANTV
TVOne
VIVA Group
Metro
TVRI1
Grand Total
ADEX Nett Estimation Q2 2014
Revenue (in IDR billion)
Advertising Market Share by Group
2013
2014
Growth
2013
2014
898
944
5.1%
21%
21%
467
467
0.0%
11%
10%
239
263
10.0%
6%
6%
1,604
1,674
4.4%
38%
37%
670
701
4.6%
16%
16%
301
445
47.9%
7%
10%
971
1,146
18.1%
23%
26%
500
514
2.9%
12%
11%
638
392
-38.5%
15%
9%
1,138
907
-20.3%
27%
20%
203
326
60.8%
5%
7%
200
287
43.1%
5%
6%
403
613
52.0%
9%
14%
128
141
10.1%
3%
3%
2
9
407.9%
0%
0%
4,245
4,489
5.7%
100%
100%
• Q2 advertising industry growth was soft at 5.7% as advertisers held off spending pre-election
• MNC Group has maintained its advertising market share
Source : AGB Nielsen Arianna / Annual Report IDX & Adex Nett Assumption Q2 2013-2014 (In Billion)
5
MNC's Audience Share Has Regained Number One
40
35
30
25
Audience Share
MNC GROUP
EMTEK
GROUP
TRANS
CORP
VIVA
GROUP
20
15
10
5
June 23
June 16
June 9
June 2
May 26
0
Week
• Audience share of MNC has gained momentum since June 16th 2014 and became number one during
prime time by the end of the June
Source: Nielsen prime time audience share
6
RCTI Has Occupied The Number One Position
No
Program
Station
25 June
26 June
27 June
28 June
29 June
30 June
Average
TVR
Share
TVR
Share
TVR
Share
TVR
Share
TVR
Share
TVR
Share
TVR
Share
1 Catatan Hati Seorang Istri
RCTI
5.1
20.9
5.1
20.4
6.0
22.6
7.0
32.1
6.5
27.7
6.3
26.0
6.0
25.0
2 Ganteng Ganteng Serigala
SCTV
5.9
24.0
6.7
26.5
5.9
23.8
3.9
22.6
3.8
20.1
5.6
22.8
5.3
23.3
3 Diam Diam Suka
SCTV
4.4
20.2
4.4
19.9
3.2
15.4
-
-
-
-
4.2
21.6
4.1
19.3
4 Mahabharata
ANTV
3.4
13.3
3.9
15
4.4
16.2
4
18.2
3.2
14.5
3.9
15.7
3.8
15.5
5 Tukang Bubur Naik Haji
RCTI
3.4
15.8
3.2
14.2
4.0
19.2
3.0
17.1
-
-
4.4
19.4
3.6
17.1
• Catatan Hati Seorang Istri has overtaken Ganteng Ganteng Serigala as the number 1 drama series
• Tukang Bubur Naik Haji performance has picked up in a strong fashion due to the Ramadan month
7
RCTI Drama Series Outperform World Cup
No
Program Name
Station
28 June 2014
TVR
Share
1
CATATAN HATI SEORANG ISTRI
RCTI
7.0
32.1
2
WORLD CUP: BRAZIL VS CHILE
ANTV
4.3
34.4
3
MAHABHARATA
ANTV
4.0
18.2
4
GANTENG GANTENG SERIGALA
SCTV
3.9
22.6
5
MAHADEWA
ANTV
3.6
15.8
29 June 2014
1
CATATAN HATI SEORANG ISTRI
RCTI
6.5
27.7
2
WORLD CUP: NETHERLANDS VS MEXICO
ANTV
4.6
35.7
3
MENGETUK PINTU HATI
SCTV
4.1
17.2
4
GANTENG GANTENG SERIGALA
SCTV
3.8
20.1
5
JUNIOR MASTERCHEF IND SEASON 1
RCTI
3.7
17.9
8
UPCOMING PROGRAMS
August 2014
November
2nd
2014
SUPER JUNIOR M
August 2014
July 2014
September 2014
9
MNC Has Rights To All Major Soccer Events in 2H 2014
22 Nov – 22 Dec 2014
19 Sep – 4 Oct 2014
9 – 23 Oct 2014
11-20 Aug 2014
10
MNC Channels Share Performance Summary Based on
I ndovision non FTA Channels, All 5+ Jakarta, Q2 2014
• Q2 2014 we booked total share of 25.18%
• Compared to other channel groups, MNC Channels’ total share is
leading, followed by FOX Group (13.79%), Disney (12.95%), and HBO
(10.55%).
Source : Nielsen TV Audience Measurement
11
MNC Channels are number 1 in News and Sports
Sports Channels Share Percentage
Based On All5+
MNC
SPORTS2
27.80
MNC
SPORTS1
36.01
News Channels Share Percentage
Based On Male15+
MNC NEWS
81.12
FOX SPORTS
16.95
CHANNEL NEWS
ASIA 9.57
STAR SPORT
15.54
EURO
SPORTS 0.91
GOLF
CHANNEL
2.79
SKY NEWS
0.29
BBC 0.35
Source : Nielsen TV Audience Measurement
CNN
INTERNATIONAL
6.26
FOX NEWS
0.15
AL JAZEERA
INTERNATIONAL
1.86
EURO NEWS
0.4
12
MNC Channels Share Performance Summary Based on
I ndovision non FTA Channels, All 5+ Jakarta, Q2 2014
Category
Position
Total Share
# Channels
News
1
81,12
8
Business
1
99,93
3
2,6,11
20,88
23
Music
2
42,51
5
Sports
1,2,5
66,6
6
1,2,3,5,8
83,39
14
Kids
4
7,87
11
Movie
6
5,56
15
1,2
100
2
Entertainment
Lifestyle
Religion
• Most of MNC branded channels are leading in its own category of genre
Source : Nielsen TV Audience Measurement
13
MNC Channels Share Performance Summary Based on
I ndovision non FTA Channels, All 5+ Jakarta, Q2 2014
Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Channel
CARTOON NETWORK
DISNEY JUNIOR/PLAYHOUSE DISNEY
DISNEY CHANNEL
MNC SHOP
CINEMAX
MNC SPORTS1
S-ONE
MNC KIDS
MNC SPORTS2
FOX MOVIES PREMIUM/STAR MOVIES
CBEEBIES
HBO
MNC INFOTAINMENT
HBO Hits
MNC ENTERTAINMENT
AXN
MNC LIFE STYLE
MNC NEWS
FOX SPORTS/ESPN
STAR SPORT
DISNEY XD
Yo Yo TV Asia
CELESTIAL
VISION 2 DRAMA
FOX CRIME
Rank
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Channel
MNC MUSLIM
LIFE
MNC DRAMA
Fox Channel
NGC Wild
STAR WORLD
ANIMAX
8I
MNC Comedy
VISION 3 BABY
MNC FOOD TRAVEL
HBO SIGNATURES
MNC MOVIE
CHANNEL V
MNC MUSIC CHANNEL
FOX ACTION MOVIES
BBC KNOWLEDGE
NICKELODEON
FOX FAMILY MOVIES
HBO Family
WARNER TV
Toonami/Boomerang
SINDO TV/SUN TV
NATIONAL GEOGRAPHIC CHANNEL
MNC BUSINESS
• 10 MNC Channels are in the Top 20 Channel
Source : Nielsen TV Audience Measurement
14
MNC Building More New Studios
MNC TV New Office
and Studio
RCTI New Office and
Studio
Global TV New Office
and Studio
15
Thank You
STOCK CODE: BMTR
MNCN
MSKY
MNC Media
PT Global Mediacom Tbk.
PT Media Nusantara Citra Tbk.
PT MNC Sky Vision Tbk.
Earning Call 25th July 2014
6M 2014
Summary of Financial Performance
1H 2014 & 2013
(In billion Rupiah)
2Q 2014
2Q 2013
YoY Growth
6M 2014
6M 2013
YoY Growth
Advertising Revenues
1,733
1,634
6%
3,132
2,882
9%
Content
Others
Total Revenues
69
74
1,876
24
110
1,768
189%
-33%
6%
91
150
3,373
44
208
3,134
107%
-28%
8%
Operating Expenses
1,057
1,038
2%
2,030
1,928
5%
Income from Operations
819
730
12%
1,343
1,206
11%
Net Income
EPS
Core EBITDA
584
42
864
530
38
760
10%
11%
14%
973
70
1,429
953
68
1,283
2%
3%
11%
Core EBITDA margin
46%
43%
42%
41%
Forex Gain (Loss)
(8)
(20)
-59%
(1)
(17)
-93%
Gain on Investments
7
28
-76%
29
125
-77%
2
Summary of Financial Performance
1H 2014 & 2013
(In billion Rupiah)
Revenues
Operating Expenses
Income from Operation
Net Income (Loss)
EBITDA
EBITDA Margin
D&A
Interest Expense
Forex Gain (Loss)
Total
Total Subscribers (in 000)
2Q 2014
2Q 2013
YoY Growth
6M 2014
6M 2013
YoY
Growth
802
754
6%
1,577
1,450
9%
770
32
(149)
282
35%
631
123
(3)
306
41%
22%
-74%
-4867%
-8%
1,478
99
(14)
585
37%
1,204
246
31
600
41%
23%
-60%
-145%
-3%
250
(59)
(162)
29
183
(58)
(51)
74
YoY Diff
37%
-2%
-218%
-61%
486
(103)
(13)
371
354
(117)
(61)
176
YoY Diff
37%
12%
79%
111%
2,498
2,014
24%
3
Summary of Financial Performance
1H 2014 & 2013
(In billion Rupiah)
2Q 2014
2Q 2013
YoY Growth
6M 2014
6M 2013
YoY Growth
1,749
1,653
6%
3,131
2,882
9%
Subscribers Based Media
802
757
6%
1,577
1,450
9%
VAS and Others
293
230
27%
569
487
17%
Total Revenue
2,844
2,640
8%
5,277
4,819
10%
Operating Expenses
2,038
1,811
13%
3,911
3,431
14%
Income from Operation
806
828
-3%
1,366
1,388
-2%
Net Income
202
339
-40%
506
632
-20%
EPS
14
23
-39%
37
45
-18%
Core EBITDA
1,112
1,052
6%
1,959
1,838
7%
Core EBITDA Margin
39%
40%
37%
38%
Forex Gain (Loss)
(180)
(69)
160%
(18)
(83)
-79%
Gain on Investments
(36)
85
-143%
44
186
-76%
Advertising Revenues
• VAS revenue grew by 54% driven by Letang performance (with revenue from Mobile Games 2Q 2014 = USD 9.1
million which mainly contributed by top hits game “Bonnie Bears” or “Xiong Chu Mo”).
4
ADEX Nett Growth Q2 2014
Channel
RCTI
MNCTV
GTV
MNC Group
SCTV
IVM
EMTEK Group
Trans
Trans7
Transcorp
ANTV
TVOne
VIVA Group
Metro
TVRI1
Grand Total
ADEX Nett Estimation Q2 2014
Revenue (in IDR billion)
Advertising Market Share by Group
2013
2014
Growth
2013
2014
898
944
5.1%
21%
21%
467
467
0.0%
11%
10%
239
263
10.0%
6%
6%
1,604
1,674
4.4%
38%
37%
670
701
4.6%
16%
16%
301
445
47.9%
7%
10%
971
1,146
18.1%
23%
26%
500
514
2.9%
12%
11%
638
392
-38.5%
15%
9%
1,138
907
-20.3%
27%
20%
203
326
60.8%
5%
7%
200
287
43.1%
5%
6%
403
613
52.0%
9%
14%
128
141
10.1%
3%
3%
2
9
407.9%
0%
0%
4,245
4,489
5.7%
100%
100%
• Q2 advertising industry growth was soft at 5.7% as advertisers held off spending pre-election
• MNC Group has maintained its advertising market share
Source : AGB Nielsen Arianna / Annual Report IDX & Adex Nett Assumption Q2 2013-2014 (In Billion)
5
MNC's Audience Share Has Regained Number One
40
35
30
25
Audience Share
MNC GROUP
EMTEK
GROUP
TRANS
CORP
VIVA
GROUP
20
15
10
5
June 23
June 16
June 9
June 2
May 26
0
Week
• Audience share of MNC has gained momentum since June 16th 2014 and became number one during
prime time by the end of the June
Source: Nielsen prime time audience share
6
RCTI Has Occupied The Number One Position
No
Program
Station
25 June
26 June
27 June
28 June
29 June
30 June
Average
TVR
Share
TVR
Share
TVR
Share
TVR
Share
TVR
Share
TVR
Share
TVR
Share
1 Catatan Hati Seorang Istri
RCTI
5.1
20.9
5.1
20.4
6.0
22.6
7.0
32.1
6.5
27.7
6.3
26.0
6.0
25.0
2 Ganteng Ganteng Serigala
SCTV
5.9
24.0
6.7
26.5
5.9
23.8
3.9
22.6
3.8
20.1
5.6
22.8
5.3
23.3
3 Diam Diam Suka
SCTV
4.4
20.2
4.4
19.9
3.2
15.4
-
-
-
-
4.2
21.6
4.1
19.3
4 Mahabharata
ANTV
3.4
13.3
3.9
15
4.4
16.2
4
18.2
3.2
14.5
3.9
15.7
3.8
15.5
5 Tukang Bubur Naik Haji
RCTI
3.4
15.8
3.2
14.2
4.0
19.2
3.0
17.1
-
-
4.4
19.4
3.6
17.1
• Catatan Hati Seorang Istri has overtaken Ganteng Ganteng Serigala as the number 1 drama series
• Tukang Bubur Naik Haji performance has picked up in a strong fashion due to the Ramadan month
7
RCTI Drama Series Outperform World Cup
No
Program Name
Station
28 June 2014
TVR
Share
1
CATATAN HATI SEORANG ISTRI
RCTI
7.0
32.1
2
WORLD CUP: BRAZIL VS CHILE
ANTV
4.3
34.4
3
MAHABHARATA
ANTV
4.0
18.2
4
GANTENG GANTENG SERIGALA
SCTV
3.9
22.6
5
MAHADEWA
ANTV
3.6
15.8
29 June 2014
1
CATATAN HATI SEORANG ISTRI
RCTI
6.5
27.7
2
WORLD CUP: NETHERLANDS VS MEXICO
ANTV
4.6
35.7
3
MENGETUK PINTU HATI
SCTV
4.1
17.2
4
GANTENG GANTENG SERIGALA
SCTV
3.8
20.1
5
JUNIOR MASTERCHEF IND SEASON 1
RCTI
3.7
17.9
8
UPCOMING PROGRAMS
August 2014
November
2nd
2014
SUPER JUNIOR M
August 2014
July 2014
September 2014
9
MNC Has Rights To All Major Soccer Events in 2H 2014
22 Nov – 22 Dec 2014
19 Sep – 4 Oct 2014
9 – 23 Oct 2014
11-20 Aug 2014
10
MNC Channels Share Performance Summary Based on
I ndovision non FTA Channels, All 5+ Jakarta, Q2 2014
• Q2 2014 we booked total share of 25.18%
• Compared to other channel groups, MNC Channels’ total share is
leading, followed by FOX Group (13.79%), Disney (12.95%), and HBO
(10.55%).
Source : Nielsen TV Audience Measurement
11
MNC Channels are number 1 in News and Sports
Sports Channels Share Percentage
Based On All5+
MNC
SPORTS2
27.80
MNC
SPORTS1
36.01
News Channels Share Percentage
Based On Male15+
MNC NEWS
81.12
FOX SPORTS
16.95
CHANNEL NEWS
ASIA 9.57
STAR SPORT
15.54
EURO
SPORTS 0.91
GOLF
CHANNEL
2.79
SKY NEWS
0.29
BBC 0.35
Source : Nielsen TV Audience Measurement
CNN
INTERNATIONAL
6.26
FOX NEWS
0.15
AL JAZEERA
INTERNATIONAL
1.86
EURO NEWS
0.4
12
MNC Channels Share Performance Summary Based on
I ndovision non FTA Channels, All 5+ Jakarta, Q2 2014
Category
Position
Total Share
# Channels
News
1
81,12
8
Business
1
99,93
3
2,6,11
20,88
23
Music
2
42,51
5
Sports
1,2,5
66,6
6
1,2,3,5,8
83,39
14
Kids
4
7,87
11
Movie
6
5,56
15
1,2
100
2
Entertainment
Lifestyle
Religion
• Most of MNC branded channels are leading in its own category of genre
Source : Nielsen TV Audience Measurement
13
MNC Channels Share Performance Summary Based on
I ndovision non FTA Channels, All 5+ Jakarta, Q2 2014
Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Channel
CARTOON NETWORK
DISNEY JUNIOR/PLAYHOUSE DISNEY
DISNEY CHANNEL
MNC SHOP
CINEMAX
MNC SPORTS1
S-ONE
MNC KIDS
MNC SPORTS2
FOX MOVIES PREMIUM/STAR MOVIES
CBEEBIES
HBO
MNC INFOTAINMENT
HBO Hits
MNC ENTERTAINMENT
AXN
MNC LIFE STYLE
MNC NEWS
FOX SPORTS/ESPN
STAR SPORT
DISNEY XD
Yo Yo TV Asia
CELESTIAL
VISION 2 DRAMA
FOX CRIME
Rank
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Channel
MNC MUSLIM
LIFE
MNC DRAMA
Fox Channel
NGC Wild
STAR WORLD
ANIMAX
8I
MNC Comedy
VISION 3 BABY
MNC FOOD TRAVEL
HBO SIGNATURES
MNC MOVIE
CHANNEL V
MNC MUSIC CHANNEL
FOX ACTION MOVIES
BBC KNOWLEDGE
NICKELODEON
FOX FAMILY MOVIES
HBO Family
WARNER TV
Toonami/Boomerang
SINDO TV/SUN TV
NATIONAL GEOGRAPHIC CHANNEL
MNC BUSINESS
• 10 MNC Channels are in the Top 20 Channel
Source : Nielsen TV Audience Measurement
14
MNC Building More New Studios
MNC TV New Office
and Studio
RCTI New Office and
Studio
Global TV New Office
and Studio
15
Thank You