JAKARTA. PT MD Entertainment Tbk (FILM) recorded net profit of IDR 102.9 billion within the first nine months (9M) of 2024, up 20.8% year-on-year (yoy) from the same period last year.

This profit growth goes hand-in-hand with FILM’s revenue in 9M 2024 that reached IDR 348.1 billion. Its revenue increased 18.6% yoy from IDR 293.6 billion in 9M 2023.

The management of FILM said that this revenue spike in 9M 2024 was supported by 2 blockbuster movies titled Ipar Adalah Maut and Badarawuhi di Desa Penari. These two were only a small example of a long list of blockbuster movies ready to be launched by the company.

Recently, FILM has reportedly concluded the gradual acquisition over PT Net Visi Media Tbk (NETV). After this acquisition, FILM will gain Free-To-Air (FTA) distribution channel, allowing the company to reach a wider audience.

Manoj Punjabi, CEO of MD Entertainment, said that the company is gaining even more optimism with the latest business line establishment in the television broadcast, including NETV acquisition.

“We believe that through these innovation, business expansion, and strategic measures, MD Entertainment’s position will become more solid, whilst promoting content sales increase in all television distribution channels,” said Punjabi in the official statement. (KR/ZH)