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MNC signs an agreement with Facebook to obtain 55% of digital advertising revenue

05 May 2020 07:42

JAKARTA. PT Media Nusantara Citra Tbk (MNCN) has signed a partnership with Facebook to obtain more share from digital advertising revenue from Facebook.

The agreement was made after MNCN saw the potential for digital advertising on social media and YouTube. MNCN announced that the company's channels on YouTube have obtained 3 billion views and 29 million subscribers, after operating for 8 months.

"MNCN's performance in YouTube has improved significantly," explained MNCN's management in information disclosure on the Indonesia Stock Exchange.

MNCN will get 55% of advertising revenue that appears on various content channels belonging to MNCN available on Facebook, with a minimum guarantee.

MNCN assesses that Facebook is currently replicating YouTube's business model. Revenue contribution from social media is projected to grow rapidly in 2020.

Previously, MNCN announced that it booked Rp 199.3 billion of digital advertising revenue Q1 2020, 25% higher than Rp 159.4 billion recorded in Q1 2019. This increase was supported by revenue from social media, news portals, and RCTI +. (KR/AR)

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