Global Mediacom pushes ahead despite rivalry

business June 20, 2017 01:00

By THE JAKARTA POST
ASIA NEWS NETWORK
JAKARTA

PUBLICLY LISTED media conglomerate Global Mediacom is focusing on three media businesses this year in spite of the tight competition in content and advertising-based media, subscription-based media and online media.



In content and advertising-based media, its subsidiary Media Nusantara Citra runs four television stations: RCTI, MNCTV, GlobalTV and iNews. The group manages its pay TV and broadband businesses under MNC Sky Vision and MNC Kabel Mediakom.

“[This year], we are focusing in all of these three main businesses, primarily from MNC, MNC Sky Vision and MNC Kabel Mediakom as drivers of growth,” Global Mediacom director Oerianto Guyandi said.

The firm, controlled by billionaire Hary Tanoesoedibjo, is offering conventional bonds and Islamic bonds, known as sukuk, worth 1.1 trillion rupiah (US$82.7 million) to fund its working |capital and refinance debts.

Mirae Asset Sekuritas Indonesia analyst Christine Natasya is upbeat on the overall growth of media industry due to better advertising environment. The growth in e-commerce will not threaten TV ad revenue, she said, as many e-commerce businesses are likely to increase their free-to-air (FTA) TV ad spend.

“The country’s e-commerce players have |been spending aggressively on TV advertising |over the past two to three years, especially in 2015,” she said.