Cinema XXI Sets Record with 22 Percent Revenue in Mid-2023, Earns 2.4 Trillion Profits

Kapanlagi.com - PT Nusantara Sejahtera Raya Tbk (Cinema XXI) as the sole film screening provider, earned a total profit of Rp 2.4 trillion in the first semester of 2023. This revenue increased by 22% from the previous year.

The total revenue received by Cinema XXI in the first semester of 2023 amounted to Rp 36.9 billion, an increase of 22.3%.

In the first half of 2023, the revenue mainly came from cinema revenue, which contributed approximately 60.2% of the total revenue, followed by Food and Beverage (F&B) revenue of 35.6%, advertising revenue of 1.6%, and digital platform revenue of 2.2%.

Furthermore, Cinema XXI recorded an EBITDA of Rp 681.1 billion, pre-tax profit of Rp 274.5 billion, and net profit of Rp 215.1 billion during the first semester of 2023. This resulted in a Gross Box Office (GBO) of Rp 1.6 trillion in the first semester of this year.

1. Providing the Best Service

Hans Gunadi, President Director of Cinema XXI, revealed that Cinema XXI will continue to provide the best service to the Indonesian people.

"To improve the performance and service of the company to cinema audiences and all stakeholders, Cinema XXI will continue to provide the widest possible access for the public to watch their favorite films, including opening cinemas in potential locations and launching innovative F&B products to bring extraordinary film-watching experiences," said Hans Gunadi.

With this increase in revenue, Cinema XXI is committed to increasing the number of screens. It is informed that since 2023, Cinema XXI has opened seven new cinema locations with 31 screens throughout Indonesia. One of them is in Cianjur, which previously did not have a cinema. And as of June 30, 2023, Cinema XXI has brought 1,239 screens to 230 cinema locations in 56 cities throughout Indonesia.

"The opening of these new cinemas is in line with our commitment to launch around 80 new screens by the end of 2023 and 140 new screens by the end of 2024. We hope that when the film industry and economic conditions have fully recovered, the presence of our cinemas in more cities will provide the best film-watching experience in its class for the Indonesian people," added Hans.

2. Innovation in Food and Beverages

From drinks and food, Cinema XXI also continues to innovate by presenting various products or menus that meet the needs of customers. In the first half of 2023, Cinema XXI introduced new F&B products, such as Popcorn Milo Dinosaurs, Dark Choco Peanut Bread, Sesame Korean Chicken, Nasi Goreng Rawon, Iced Avocado Latte, Avoccino, and Go Matcha, as well as relaunching nachos as one of its products.

Regarding the public's interest in domestic films, filmindonesia.or.id reported that seven domestic films have reached more than one million viewers across cinema networks in Indonesia throughout 2023. The films are as follows:

SEWU DINO with 4,886,406 viewers
WAKTU MAGHRIB with 2,403,711 viewers
SUZZANNA: MALAM JUMAT KLIWON with 1,929,172 viewers
KETIKA BERHENTI DI SINI with 1,572,168 viewers
BUYA HAMKA with 1,297,893 viewers
KHANZAB with 1,166,706 viewers, and
SOSOK KETIGA with 1,162,291 viewers

3. Largest Cinema Operator in Indonesia

Cinema XXI operates under the umbrella of PT Nusantara Sejahtera Raya Tbk, which is the largest cinema network operator in Indonesia with over 35 years of experience in the film industry. And up to now, Cinema XXI has presented 1,239 screens in 230 cinema locations in 56 cities throughout Indonesia.

Not only that, Cinema XXI also innovates by presenting a revolutionary film watching experience, namely IMAX theaters. To further enhance the service provided to customers, Cinema XXI has also equipped cinemas with the latest audio system "Dolby Atmos", which is now available on 66 screens.

As a film screening service provider, Cinema XXI has successfully won the "World Branding Award" for three consecutive years. Even during the 2020 pandemic, Cinema XXI was crowned "Industry Champion of the Year" by the Asia Corporate Excellence and Sustainability (ACES) Awards and "Indonesia Best Managed Company" by Deloitte in 2023.

(kpl/dwn)