RAAM Producing Box Office

Jakarta, 31 October 2023 – PT Tripar Multivision Plus Tbk (RAAM) released it’s financial performance period 9 months of 2023 (9M23). RAAM managed to record positive performance with total comprehensive profit of IDR 51 billion in 9M23.

In 9M2023, it recorded revenue of IDR 231 billion, up from IDR 227 billion in the previous year. The highest revenue contributor was drama series which generated IDR 109 billion in 9M2023, up 25% compared to the previous year, followed by movies with IDR 50 billion and digital content with IDR 35 billion. Other revenue contributors are cinema tickets and food and beverages (F&B), which each contributed IDR 28 billion and IDR 9 billion.

Gross profit increased 16% to IDR 143 billion in 9M2023 from IDR 123 billion in 9M22 with an increase in gross profit margin to 62%, compared to 54% last year. Overall, RAAM managed to record a total comprehensive profit of IDR 51 billion in 9M23.

Source: company internal

In general, this quarter's revenue with total sales of IDR 231 billion increased compared to last year's IDR 226 billion. The company is monetizing it’s extensive library and it’s resulting in increasing gross profit for the 9M23 period by 16.2% compared to last year. Net profit decreased by 33.4% compared to last year because in 2022 there were sales of property and disposal of investment in company assets which were included in other income amounting to IDR 35,471,812,980. This decrease in net profit was not influenced by the condition of the entertainment industry because it was a non-business transaction.

The entertainment industry, especially movies, continues to grow inline with the number of cinema viewers in the third quarter of this year reaching 59 million viewers, growing 15% compared to last year and coupled with the growth in customers watching via OTT streaming broadcasts based on KPI data has reached 50 million subscribers. This positive outlook will be a driving force for the company to produce a box office movie, RAAM proved it with a movie "Di Ambang Kematian" that has been watched by more than 3 million people and currently still rolling in cinemas.

RAAM President Director and Chief Executive Officer, Whora Anita Raghunath says "We continue to improve operational and financial performance. Sales and gross profit have increased and supported Core EBITDA, which has increased by 7% to IDR 87 billion.”

RAAM's balance sheet shows a healthy financial condition with total assets in 9M2023 amounting to IDR 1,386 billion, up 30% from IDR 1,069 billion in 9M22. Meanwhile, the Company's total liabilities were IDR 210 billion, an increase of 25% from IDR 168 billion last year.

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