JAKARTA - PT MNC Digital Entertainment Tbk (“MSIN” or “the Company”) held its AGM and EGM on the 19th of July 2022. The AGM has accepted the Company’s annual report and approved its financial statements for the fiscal year ended on 31 December 2021.
The AGM has decided that the Company’s net income will be recorded as retained earnings to strengthen the Company’s capital structure and expenditure allocation to drive growth efforts in its digital and gaming expansion. MSIN will endure its long-standing stance as the nation’s biggest content producer, increasing the number of hours produced every year and also to significantly improve its content quality, particularly on original productions in order to drive audience growth and consumption on RCTI+ and Vision+. Outside video and gaming, MSIN continues to strengthen its play in producing and disseminating content across its business portfolio covering audio, music, articles, UGC, talent management and partnerships via leading third party social media platforms.
For FY-2021, revenue was recorded at Rp1,813 billion. Meanwhile, in Q1-2022, MSIN booked a revenue of Rp924 billion, representing a 90% YoY growth. The Company’s Q1-2022 revenue has eclipsed more than 50% of its annual turnover last year, which was mainly attributable to the continued top charting performance of its content and the consolidation of various digital platforms from MNC Media into MSIN.
The Company posted a robust net profit growth of 80% YoY in FY-2021, securing Rp300 billion in net profit compared to Rp167 billion previously. Furthermore, net income for Q1-2022 increased by 84% YoY to Rp140 billion, representing a net income margin of 15%. (LM)