Listed and traded on the Indonesia Stock Exchange
STOCK CODE: BMTR
MNCN
MSKY
MNC Media
PT Global Mediacom Tbk.
PT Media Nusantara Citra Tbk.
PT MNC Sky Vision Tbk.
Corporate Update
February 2015
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2
Section 1
MNC Media Corporate Structure
MNC Media Corporate Structure
Global Mediacom Tbk
64.7%
Content and Advertising
Based Media
Subscription Based
Media
73.0%
Media Nusantara Citra Tbk
MNC Sky Vision Tbk
Online Media
100%
PT MNC Kabel Mediakom
4
Section 2
Indonesia’s Media Industry Update
Macro drivers support industry growth
Population (2013)
A Young Population : 80% - Below 50yr
What are the macro drivers?
3%
Millions
 A large & young population
13%
1.361
29%
1.236
 200mn people below age of 50
 A rising middle class
248
97
71
 Strong economic growth driven
29%
30
23
5
by domestic consumption
26%
0-14
Source: MPA 2013
30-49
50-69
Source: Indonesia Bureau of Statistics 2012
Completed Education Level
NA
22%
15-29
University
4%
Monthly Household Expenditure (Rp1,000)
E <600
5%
Academy
3%
D 601900
13%
A1 3500
6% A2 25013500
9%
Senior High
29%
 Only 4% of population has
university degrees
 Indonesians prefer to watch TV
than to read, watching 5 hours
of TV per day.
C1 12511750
26%
Junior High
19%
Source: Indonesia Bureau of Statistics 2012
 40mn TV household
B 17512500
20%
C2 9011250
21%
Elementary
23%
70+
Source: Nielsen Media Research
6
Indonesia net ad spend growth highest in the region
 Media Partners Asia forecasts net ad spend growth of 15.5% in 2014
 Growth is among the highest in the region
 Indonesia’s ad spend is growing from a small base; we expect growth to be sustainable
Asia Pacific Net Adspend (2013 – 2014F)
Asia Pacific Net Adspend Growth (2013-2014F)
2013
2014F
In USD billion
2013
2014F
Source: Media Partners Asia 2014
7
Well Positioned in a Conducive Growth Environment
 Net ad spend as % of GDP is the lowest in the region indicating solid growth potential
 The price for a 30 seconds prime time spot is cheap compare to other ASEAN countries
Net Adspend as a Percentage of GDP (2013)
30 seconds prime time spot
In USD/spot
0,9%
$17.136
0,7% 0,7%
0,6%
0,6%
$10.800
0,5%
0,4%
0,4% 0,4%
0,3% 0,3% 0,3%
0,3%
0,2%
$5.400
Indonesia
Thailand
Philippines
Source: Media Partners Asia 2014
8
Industry Dynamics
 Prime time advertising slots are limited; strong demand for advertising
 Local brands have been aggressive in advertising to compete with multi national companies
 We expect automotive and financial companies to increase TV advertising budget
Limited supply: Only 10 FTA TV stations
Demand (More brands advertising on TV)
3%
13%
35%
21%
MNCN
SCMA
VIVA
TRANS
METRO
27%
Source: Nielsen Prime Time all demographic January 2015
9
Low Penetration Rates in Key Segments
Asia Pacific TV Penetration of Total Households (2012-2014F)
100% 100%
100% 99%
100% 100%
100% 100%
96% 96%
99% 99%
97% 97%
97% 97%
93% 93%
85% 86%
82% 84%
61% 62%
58% 60%
2012
2014F
Korea
Japan
Singapore Hong Kong
Malaysia
Australia
Newspaper Circulation in Indonesia
6,0
Millions
China
Thailand
Taiwan
Vietnam
Philippines
India
Indonesia
Internet Household Penetration in Indonesia
6,0
30,2%
27,1%
5,9
23,7%
5,8
18,0%
20,5%
5,7
2010
2011
Source: Media Partners Asia
2012
2013
2014
2010
2011
2012
2013
2014
10
Indonesia’s Media Advertising Market Share
 Given the infrastructure constraint, TV is the only medium to reach a mass audience. TV
advertising is expected to maintain a dominant market share
 Online advertising to take market share from Newspaper and Magazine
2019F
2014
OOH; 2,2%
Radio; 1,3%
OOH; 2,0%
Online/Mobile;
7,3%
Radio; 1,1%
Online/Mobile;
10,5%
Magazines; 2,6%
Magazines; 2,4%
Newspapers;
20,4%
Newspapers;
18,2%
TV; 65,8%
TV; 65,5%
Source: Media Partners Asia
11
Section 3
MNC Update
The Largest Integrated Media Company in Southeast Asia
Free-To-Air TV
Content
Sindo Media
Others
News Portal
Tabloid &
Magazine
PAY TV Channels
Radio
More channels will be added
Content library contains more than
200,000 hours and increasing by
more than 15,000 hours per year
13
Our 4 Key Growth Drivers
RCTI, MNCTV, and Global TV grow
significantly outperforming the industry
19 exclusive channels on MNC Sky Vision
to generate ad revenue
SINDO TV to become a national network
with focus on news and infotainment
Integrated TV studios to be completed in
mid 2015 is set to reduce programming
and operation cost
14
Content is King
Creating the best content is our top priority

Content is the only way to capture audience share
and monetize advertising dollars

Indonesians love “Sinetrons” and we broadcast
many of the top drama series

We have licensed popular International programs
such as Master Chef, Indonesia Idol and X Factor

Exclusive programming with top Hollywood studios

More than 200,000 hours of content library and
increasing by more than 15,000 hours annually

We also have 20 MNC branded Pay TV Channels.
These channels are integral to our content strategy
“Content is where I expect much of the real money will be
made on the Internet, just as it was in broadcasting.
The television revolution that began half a century ago
spawned a number of industries, including the manufacturing of
TV sets, but the long-term winners were those who used the
medium to deliver information and entertainment.”
“Content is King” by Bill Gates in 1996
Primetime Nielsen TV stations ranking
Rank
1
2
3
4
5
6
7
8
9
10
Station
RCTI
ANTV
SCTV
IVM
MNCTV
TRANS
TRANS7
GTV
TVONE
METRO
Target
Audience
ABC
ABC
ABCD
ABCD
ABCD
ABC
ABC
ABC
ABC
AB
Januari 2015
Share
21.4
16.8
16.3
10.3
7.6
6.8
6.5
6.0
4.2
2.5
Source: Nielsen Monthly Prime Time All Demographic Audience Share
15
Strong recovery in Audience Share since June 2014
40
35
30
MNCN
EMTK
25
VIVA
TRANS
20
15
10
Jan-14
Feb-14
Mar-14
Source: Nielsen prime time audience share
Apr-14
Mei-14
Jun-14
Jul-14
Agust-14
Sep-14
Okt-14
Nop-14
Des-14
Jan-15
16
RCTI’s Prime Time is back to No. 1
Launched of 7 Manusia
Harimau in Nov’14
24,0
22,0
20,0
18,0
RCTI
SCTV
16,0
Plot Twist on Main
Character and More
Innovative story line
14,0
12,0
10,0
Jan-14
Feb-14
Mar-14
Source: Nielsen prime time audience share
Apr-14
Mei-14
Jun-14
Jul-14
Agust-14
Sep-14
Okt-14
Nop-14
Des-14
Week I Jan
2015
17
MNC TV is Gaining Back Audience Share
15,0
14,0
Started airing Boboi
Boy in Oct 20th 2014
Adit & Sopo Jarwo Audience share
has increased drastically to 19.4%
since moving to early Prime-Time.
13,0
12,0
MNC TV
11,0
IVM
10,0
9,0
8,0
7,0
Apr-14
Mei-14
Source: Nielsen prime time audience share
Jun-14
Jul-14
Agust-14
Sep-14
Okt-14
Nop-14
Des-14
Jan-15
18
Key Drama Series on RCTI
19
In-House Production
20
MNC Has The Best Talent Search Format Lineup
21
The most comprehensive Pay TV Channels line-up
 We have the most comprehensive Pay TV channel lineup in Indonesia
 Our customers prefer local content
 Producing content in Bahasa Indonesia is our competitive advantage
 We generate subscription revenue and advertising revenue
Sports
Movies
Lifestyle
News
Entertainment
Kids
Local content
means it is the leader in its Pay TV category
22
Top 20 Most Watched Channels January 2015
NO.
CHANNEL
NO.
CHANNEL
1
CARTOON NETWORK
11
MNC ENTERTAINMENT
2
CBEEBIES
12
FOX CRIME
3
MNC SPORTS2
13
MNC SPORTS1
4
S-ONE
14
MNC Comedy
5
DISNEY CHANNEL
15
VISION 2 DRAMA
6
DISNEY JUNIOR
16
MNC KIDS
7
MNC INFOTAINMENT
17
MNC NEWS
8
MNC SHOP
18
HBO Hits
9
FOX MOVIES PREMIUM
19
MNC MOVIE
10
MNC MUSLIM
20
NGC Wild
Source: AGB Nielsen Report
23
Pay TV Channels to drive ad revenue for MNCN
OPPORTUNITIES



MNC Channels share of Pay TV audience in January 2015
MNCN has produced and packaged 20 Pay TV
channels exclusively for MNC Sky Vision. In return
MNCN receives 100% ad revenue
MNC Sports, MNC Infotainment, MNC News and
MNC Business, MNC Music are # 1 ranked in their
respective categories versus International peers
MNC Food & Travel and MNC Kids was recently
launched. We will add 2 more channels: MNC Home
& Living and MNC Wedding
Rank Sports Channel
Channel Share
Rank News Channel
1 MNC Sports2
7.1%
1 MNC NEWS
2.0%
2 MNC Sports1
2.4%
2 Fox News
0.2%
3 FOX Sports
1.7%
3 CNN INTERNATIONAL
0.2%
4 Golf Channel
0.7%
4 BBC
0.0%
Rank Lifestyle Channel
Channel Share Rank Music Channel
We expect MNC Channels to generate meaningful
advertising revenue as subscribers grow
28%
Channel Share
1 MNC Infotainment
3.7%
1 MNC Music Channel
0.9%
2 MNC Life Style
1.4%
2 Channel V
0.3%
3 MNC Food Travel
1.0%
3 Trace
0.1%
4 MNC Home And Living
0.4%
4 I-Concerts
0.1%
Rank Entertainment Channel Channel Share Rank Business Channel

Channel Share
Channel Share
1 S-One
4.6%
1 MNC Business
1.6%
2 MNC Entertainment
2.7%
2 Bloomberg
0.0%
3 FOX Crime
2.4%
3 CNBC Asia
0.0%
4 MNC Comedy
2.3%
Source : Nielsen TV Audience Measurement 2015
MNC Channels
Rest of market
72%
24
SINDOTV has full national coverage
Sabang
Banda Aceh
Lhokseumawe
Medan
Pematang Siantar
Tarakan
Batam
Pontianak
Pekan Baru
Payakumbuh
Bukit Tinggi
Padang
Samarinda
Bengkulu
Lubuk Linggau
Lampung
Pangkal
Pinang
Palangkaraya
Banjarmasin
Palembang
Jakarta
Cirebon
Semarang
Bandung
Tasikmalaya
Banyumas
Magelang
Manado
Gorontalo
Ternate
Manokwari
Palu
Biak
Mamuju
Pleihari
Makassar
Kendari
Nebire
Ambon
Merauke
Surabaya
Bali Mataram
Kupang
Total
: 46 stations
• MNC has just acquired a local Jakarta TV giving us full national coverage on SINDOTV
• The focus will be 24 hours news, entertainment and sports
25
Highly Qualified and Experienced Management Team
Hary Tanoesoedibjo
CEO, MNC Group



21 years of relevant
experience


Kanti Mirdiati Imansyah
Director
23 years of relevant
experience







Faisal Dharma Setiawan

CFO

25 years of relevant

experience





Diana Airin
Director
14 years of relevant
experience



Group President & CEO of MNC since March 2004
Founding shareholder and Group Executive Chairman of PT Bhakti Investama Tbk. since 1989
Currently holds positions in several other companies, including Group President & CEO of PT Global Mediacom Tbk. since
2002, President Commissioner of RCTI since 2008, President Commissioner of PT MNC Sky Vision (Indovision), President
Commissioner of Media Nusantara Informasi since 2008, President Commissioner of MNC Networks since 2008, President
Commissioner of MNC Pictures since 2007, and many other companies within MNC Media and Bhakti Investama Group
MBA degree from Ottawa University, Canada
Bachelor of Commerce (Honors) degree from Carleton University, Ottawa, Canada
Director Sales and marketing of RCTI from 2010 – 2012
GM Sales and Marketing manager and Director Sales and Marketing of CTPI from 2006-2010
AVP Sales and Marketing of Duta Visual Mandiri from 2003-2006
Head of Acquisition Manager of RCTI from 2002 – 2003
Sales Group Head Trans TV from 2000 – 2003
Sales Group Head & Account Executive1990 – 2000
Bachelor Degree of Science from La Jolla Academy of Advertising Arts and Associate Degree Fashion Merchandising from IFS
San Diego, USA
Independent Advisor - Business Solutions & Strategy for life and health insurance & Bank in 2013
Chief Executive Officer in PT Asuransi Jiwa Adisarana WanaArtha in 2012
Vice Chief Finance Officer – Strategy & Finance in PT Bank CIMB Niaga Tbk. in 2009
Commissioner in PT CIMB Sunlife in2009
Commissioner in PT Asuransi CIGNA in 2009
Director of Indo Kordsa Pension Fund (DPPK) in 1996
Graduated from Prasetya Mulya, Graduate School of Management with “MM” degree in International Business in 2001
Graduated from Universitas Katolik Parahyangan with Civil Engineer Degree (Bachelor Degree) in 1984
President Director of PT. Media Nusantara Informasi, PT. MNC Networks (Radio), & PT. Cross Media International (Media
Buying Agency) since 2013
Director of Sales Marketing of Seputar Indonesia, SUN TV, High End & High End Teen, and Network Magazine in 2010
Bachelor Degree of Economy – Management from Tarumanegara University
26
Highly Qualified and Experienced Management Team
Ella Kartika
Director
27 years of relevant
experience
Gwenarty Setiadi
Director
27 years of relevant
experience
Charlie Kasim
Independent Director
12 years of relevant
experience





Managing Director in PT Global Informasi Bermutu in 2013
Programming & Production Director in PT Rajawali Citra Televisi Indonesia in 2011
Programming & Production Director in PT Global Informasi Bermutu in 2010
Sales & Marketing Director in PT Global Informasi Bermutu in 2008
Obtained Master of Management Program from University of Indonesia majoring in Finance & Banking in 1998








Director of Human Resources and General Services in PT MNC Sky Vision Tbk in 2009
General Human Manager Human Resources and General Services in PT Media Nusantara Citra Tbk in 2008
Vice President (VP), Human Resources and General Services in Citibank in 2007
Vice President (VP), Head of Direct Sales Training Academy & HRRM in Citibank in 2005
Vice President (VP), Outsourcing Management Head in Citibank in 2004
Assistant Vice President (AVP), Sales Human Resources and Compliance Manager in Citibank in 2000
Manager, Sales Recruitment and Training Manager in Citibank in 1998
Graduated from University of Satya Wacana with Bachelor degree in Agronomy in 1982


Deputy Finance and Technical Director in PT Rajawali Citra Televisi Indonesia in 2013
Finance Director, Technical Director, Operational Director and Head of Procurement of PT Cakrawala Andalas Televisi (ANTV) in
2011
Chief Finance Officer in PT. Visi Media Asia Tbk (VIVA) in 2007
Finance/HR/Sales Director & CEO at PT. Viva Media Baru (Previously vivanews.com, now VIVA.CO.ID) in 2008
Finance Director and Head of Procurement at PT. Lativi Media Karya (tvOne, previously known as Lativi) in 2007
Operational Director at PT. Fajar Bumi Sakti (coal mining company based in East Kalimantan) in 2005
Commissioner of PT. Bakrie Swasakti Utama (Bakrie real estate company handling Taman Rasuna Apartement, Pasar Festival and
Klub Rasuna) in 2003
Vice President for Collection of PT. Bakrie Finance Corporation Tbk in 2002
Obtained MBA in Finance from University of Houston in 1997







27
Section 4
Financial Update Media Nusantara Citra
Financial Performance from 12M 2011 until 12M 2013
12M 2011 to 12M 2013 Financials
IDR trillion
2011
2012
2013
CAGR +5%
CAGR +6%
CAGR +10%
8,80
6,26
5,39
8,96
9,62
6,83
6,52
7,29
7,74
CAGR +23%
1.79
Revenue
2,38
2,72
EBITDA
Asset
Equity
12M 2011 to 12M 2013 Solvency Metrics
2011
55.83x
2012
2013
66.23x
47%
33%
30%
20%
Debt / EBITDA
Source: Company Financials
12% 10%
7%
Debt / Equity
38% 42%
46%
40% 43%
51% 50% 52%
11.66x
EBITDA / Interest
EBITDA Margin
3 TV EBITDA Margin
RCTI EBITDA Margin
29
MNCN (RCTI+GTV) vs. SCMA (SCTV+Indosiar)
(In million Rupiah)
Revenue
RCTI
GTV
Total
SCMA
3Q 2013
3Q 2014
YoY
799,032
198,560
997,592
913,015
897,402
201,368
1,098,770
945,836
12.31%
1.41%
10.14%
3.59%
• More appropriate to compare RCTI +
GTV with SCMA which only has 2 TV
stations
• We have outperformed the industry in
growth and margins.
Core EBITDA
RCTI
GTV
Total
SCMA
387,738
59,927
447,665
445,538
460,343
63,152
523,495
405,117
18.73%
5.38%
16.94%
-9.07%
EBITDA margins
RCTI
GTV
Total
SCMA
48.53%
30.18%
44.87%
48.80%
51.30%
31.36%
47.64%
42.83%
277
118
277
-597
• RCTI is by far the most dominant TV
station in Indonesia, it’s EBITDA alone is
bigger than our competitor.
MNCN is undervalued, trading at 30% discount to our competitor. The analysis above does not take into account earnings
from MNC TV, Sindo TV, and 19 Pay TV channels.
30
Summary of Financial Performance
FY 2012 & 2013 – 9M 2013 & 9M 2014
IDR billion
12M 2012
12M 2013
%chg
9M 2013
9M 2014
%chg
6,265
6,522
4%
4,749
5,044
6%
Advertising
5,351
5,720
7%
4,373
4,680
7%
Advertising excluding
Euro Cup
5,188
5,720
10%
-
-
Content
197
267
36%
76
145
Value Added Services
216
0
-100%
-
-
Others
500
536
7%
301
219
-27%
Operating expenses
4,050
3,962
-2%
2,984
3,132
5%
Core EBITDA
2,375
2,721
15%
1,883
2,041
8%
Core EBITDA Margin
38%
42%
40%
40%
Net Income
1,657
1,691
1,270
1,389
Revenue
2%
92%
9%
31
MNC Commands Highest Power Ratio
Channel
RCTI
MNCTV
GTV
MNC Group
SCTV
IVM
EMTEK Group
Trans
Trans7
Transcorp
ANTV
TVOne
VIVA Group
Metro
TVRI1
Others
Grand Total
ADEX Nett Estimation Q3 2014
Revenue (in IDR billion)
Revenue Audience
2013
2014
Growth
Share
Share
799
897
12%
23%
15%
434
391
-10%
10%
8%
200
201
1%
5%
6%
1.433
1.489
4%
39%
30%
657
602
-8%
16%
18%
213
320
50%
8%
12%
870
922
6%
24%
30%
425
390
-8%
10%
9%
579
280
-52%
7%
8%
1.004
670
-33%
17%
17%
150
340
127%
9%
13%
154
225
46%
6%
6%
304
565
86%
15%
18%
135
175
29%
5%
4%
7
9
24%
0%
2%
142
184
2%
5%
5%
3.753
3.830
2%
100%
100%
Source : AGB Nielsen Arianna / Annual Report IDX & Adex Nett Assumption Q3 2013-2014 (In Billion)
Power
Ratio
1,5
1,2
0,9
1,3
0,9
0,7
0,8
1,2
0,9
1,0
0,7
1,0
0,8
1,3
0,1
0,9
1,0
• Despite soft audience share MNC
group
still
holds
the
largest
advertising Market share at 39%
with a 1.3 Power Ratio
32
Strong revenue growth with increasing EBITDA Margins
Room For Further Margins Improvement
47.0% - 48.0%
41,7%
~42.0%
2013A
2014E
37,9%
33,2%
2011A
Source : Company information
2012A
2017E
33
Section 5
Indonesia’s Pay-TV Industry Update
Indonesia’s Pay TV Subscriber Trend
 Indonesia’s pay TV market is estimated to reach 8.7 million subscribers by 2020, equaling
to only 21% of TV households
 Almost 3x the size of 2012
In thousand subscribers
10000
SUBS
21%
%Pen/TVHH
20%
19%
9000
20%
18%
16%
8000
17%
14%
7000
22%
15%
12%
12%
6000
9%
10%
7%
5000
7%
5%
4000
3%
2%
1%
1%
3%
7.687
2%
8.221
8.691
7.065
1%
6.340
3000
5.471
4.376
2000
2%
-1%
-3%
3.118
2.442
1000
0
5%
265
317
465
650
749
2004
2005
2006
2007
2008
873
1.132
2009
2010
1.676
-6%
-8%
2011
2012
2013
2014E 2015E 2016E 2017E 2018E 2019E 2020E
Source: Media Partners Asia 2013
35
Well Positioned in a Conducive Growth Environment
Asia Pacific’s Pay TV subscribers (2013)
Asia Pacific’s Average Pay TV Monthly ARPU (2012)
In USD
In thousand subs
60,0
54,1
50,0
1.194
IPTV
Cable
40,0
Satellite
33,6
30,0
880
30,0
131
5.149
5.989
122
5
305
20,0
3.330
785
3.265
29
610
1.089
44
16,1
12,5
1.385
2.808
1.571
18,8
894
1.523
477
10,0
33
827
398
536
8.0
8,0
4,6
4,2
3,4
-
Source: Media Partners Asia 2013
36
Indonesia’s Pay TV Market Has Huge Potential
Indonesia has the lowest pay TV penetration rate of TV household in the Asia Pacific (2013)
120%
100%
100%
86%
80%
80%
66%
60%
51%
49%
40%
28%
20%
11%
9%
Philippines
Indonesia
0%
Korea
Hongkong
India
Singapore
Malaysia
China
Thailand
Indonesia has the highest projected pay TV subscriber growth in the Asia Pacific (CAGR 2012-2016E)
30%
28%
24%
25%
20%
20%
20%
18%
18%
13%
15%
10%
6%
3%
5%
1%
0%
Indonesia
Thailand
Source: Media Partners Asia
China
India
China
PHP
Korea
Malaysia
Singapore
HK
37
Strong Market Position with Superior Content Capabilities
Total subscribers (in thousands)
Company Milestones
3000
Sept 2014
Total subscribers = 2.53 million
2,528
2500
2,300
2000
1,720
1500
1,163
1000
July 2012:
IPO @ Rp 1,520/shr
2011:
MPEG 4 rollout
2009:
Launched of Indostar II satellite; migrated
subscribers to Galaxy and Venus packages
2008:
Introduced Top TV to target low/middle class
Opened sales and services offices in 43
cities
805
604
500
479
9
0
28
30
56 109
192
306
2007:
Introduction of set top box subsidy
2006:
Name change to MNC Skyvision
2001:
Acquired 51% of Indovision and became
major owner. Less than 30k subscribers
38
Our 3 Most Important Competitive Advantages
122 channels with 34 exclusive channels;
20 MNC branded channels
The only provider that owns satellite with
S-band technology
Has 100 branches across Indonesia
39
Reliable Nationwide Coverage via S-Band
S-Band DTH Broadcasting Capability

Holds exclusive license for broadcasting using Sband spectrum

Clear reception and resilience to heavy
rainstorms that are common in Indonesia

C-band or Ku-band used by competitors more
susceptible to service outages from rain fade

Complete coverage of Indonesia’s 13,700 islands,
over 9.8 million square kilometers

Higher EIRP1 enables smaller reception disk
compared to C-band

Best-in-class technology and exclusivity of Sband provides competitive advantage
DTH Transmission Process
1. Effective Isotropic Radiated Power
40
Large, Diversified, In-House Distribution Network
Network of 100 Branch Offices Across Indonesia
 Majority of new customers are sourced
through in-house channels,
 Greater control, lower commissions and
stringent customer verification
Branch office
Sulawesi
Kalimantan
Papua
Sumatera
Sumatra
Maluku
Java
 Competitors rely primarily on external
dealers for subscriber acquisition
About 82% of New Subscribers Are Acquired Through In-House Channels
D2D
Call Center
Sub-get-Sub
82%
Stores
Club
Dealers
Corners
18%
41
MNC Sky Vision has 74% Pay TV market share
2013
2012
Aora
7,0%
Nexmedia
2.0%
Nexmedia
Aora 3.0%
2.0%
First Media
10.0%
Others
1,0%
First Media
10,0%
Indovision
38,0%
TelkomVision
9,0%
Orange
3.0%
Indovision
38.0%
TelkomVision
8.0%
OkeVision
11.0%
OkeVision
9,0%
Top TV
24,0%
Top TV
25.0%
 MNC Sky Vision has increased market share from 71% to 74% in 2013 despite entrants of new competitors
 TelkomVision and Aora are losing market share
 Rumors of Orange selling BPL rights
42
Section 6
Financial Update MNC Sky Vision
Financial Performance from FY2011 until FY 2013
FY 2011 to FY 2013 Financials
IDR billion
FY 2011 Audited
FY 2012 Audited
FY 2013 Audited
CAGR +31%
5.936
4.939
CAGR +35%
CAGR +32%
3.020
3.448
CAGR +29%
2.394
2.261
1.738
728
Revenues
1.002
1.214
1.746
958
Adjusted EBITDA
Total Assets
Equity
FY 2011 to FY 2013 Solvency Metrics
FY 2011 Audited
FY 2012 Audited
FY 2013 Audited
5,51
4,49
3,55
2,35
2,31
1,55
1,75
1,63
0,69
Debt/EBITDA
Source: Company Financials
Debt/Equity
42%
EBITDA/Interest
42%
40%
EBITDA Margin
44
Segmental Overview - Revenue
12M 2012(Audited)
12M 2013 (Audited)
3%
5% 0%
5%
3%
3%
DTH-Digital
DTH-Digital
Commercial Sales
Commercial Sales
TV Ad Sales
TV Ad Sales
Others
Others
92%
89%
* Other Revenues are decoder sales, sale of ODUs & ancillary as well as share of revenues.
45
Summary of Financial Performance
FY 2012 & 2013 – 9M 2013 & 9M 2014
IDR billion
12M 2012
12M 2013
%chg
9M 2013
Revenue
2,394
3,020
26%
2,230
2,436
9%
Operating Expenses
1,898
2,580
36%
1,865
2,256
21%
Total EBITDA
1,002
1,214
21%
919
919
0%
Total EBITDA Margin
42%
40%
41%
38%
82
(487)
(223)
(28)
Net Income
-695%
9M 2014
%chg
87%
46
Highly Qualified and Experienced Management Team
Bambang Rudijanto
Tanoesoedibjo
President Director




Handhi S. Kentjono
Vice President Director
David Wongso
Human Resources &
General Services
Director




President Director of MNC Sky Vision since 2004
Currently held several important positions such as the President Commissioner of PT MNC Asset Management, Vice
President Commissioner of PT Global Mediacom Tbk, Commissioners of PT Dos Ni Roha, PT Bhakti Investama Tbk, and PT
Rajawali Citra Televisi Indonesia.
MBA degree from University of San Francisco, San Francisco, USA
Bachelor of Commerce from Carleton University, Ottawa, Canada


Vice President of MNC Sky Vision since 2006 and also Director of Mediacom since 2009.
Previously worked in Goldindo International Group as Marketing Director and for over seven years with Rimba Group.
Served as a President Director and founder of Jakarta Institute of Technology from 2001 to 2003.
Received an award from the Institute for Transportation Research and Education, NC State Raleigh-Durham in 1995 and
Truman Scholarship Award in 1986.
MBA degree in Business Administration from Montana University, Montana in 1991
PhD from Montana University, Montana in 1993





Director of MNC Sky Vision since November 2014.
Previously worked at PT Napan Persada and honey Lady Group as the Chief of Human Resources Officer.
Held several related positions at PT Gajah Tunggal Tbk., Charoen Pokphand Grup, Bank ABN AMRO, and other companies.
Obtained MM program from IPMI Business School and MBA from Monash University in 2006.
Graduated from Universitas Padjajaran, Bandung, Indonesia in 1994.
47
Highly Qualified and Experienced Management Team
Salvona Tumonggor
Situmeang
Operational Director
Dhini Widhiastuti
Marketing Director



Director of MNC Sky Vision since 2009
Held several related position at MNC Sky Vision from 2005
Graduated from Universitas Sumatera Utara, Medan, Indonesia in 1991, majoring in Accounting



Director of MNC Sky Vision since 2013
Previously held position as General Manager of Marketing since 2005
Previously worked as Account Director in PT Kreatif Senterindo, Account Director in PT DDB Indonesia, Account Director in
PT Pamungkas Pariwara, Associate Account Director in PT Mitraguna Adikriya, Account Manager in PT Leo Burnett Kreasi
Indonesia, and PR Executive PT Komunikasi Cergas Ilhami.
Graduated from Akademi Sekretariat Tarakanita in 1994

Effendi Budiman
Non Affiliated Director





Finance Director of MNC Sky Vision since 2012
Previously held several positions within Bhakti and MNC Group such as Finance Director of PT Infokom Elektrindo, Deputy
CFO of PT Global Mediacom Tbk, Finance Director of PT Nusantara Vision, Director and Corporate Secretary of PT Bhakti
Capital Indonesia Tbk.
Previously worked at Bank Central Asia and ABN Amro Bank.
MBA degree from University of Texas, Arlington – Texas, USA in 1992
Bachelor of Finance from Louisiana States University, USA in 1990
48
Highly Qualified and Experienced Management Team
Hary Tanoesoedibjo
CEO, MNC Group



21 years of relevant
experience


Handhi S. Kentjono
Director
21 years of relevant
experience






Indra P Prastomiyono
Director


21 years of relevant
experience



Group President & CEO of PT Global Mediacom Tbk since 2002
Founding shareholder and Group Executive Chairman of PT Bhakti Investama Tbk. since 1989
Currently holds positions in several other companies, including Group President & CEO of PT Media Nusantara Citra Tbk.
since 2004, President Commissioner of RCTI since 2008, President Commissioner of PT MNC Sky Vision (Indovision),
President Commissioner of Media Nusantara Informasi since 2008, President Commissioner of MNC Networks since 2008,
President Commissioner of MNC Pictures since 2007, and many other companies within MNC Media and Bhakti Investama
Group
MBA degree from Ottawa University, Canada
Bachelor of Commerce (Honors) degree from Carleton University, Ottawa, Canada
Director of Mediacom since 2009 and also a Vice President of MNC Sky Vision.
Previously worked in Goldindo International Group as Marketing Director and for over seven years with Rimba Group.
Served as a President Director and founder of Jakarta Institute of Technology from 2001 to 2003.
Received an award from the Institute for Transportation Research and Education, NC State Raleigh-Durham in 1995 and
Truman Scholarship Award in 1986.
MBA degree in Business Administration from Montana University, Montana in 1991
PhD from Montana University, Montana in 1993
Director of Mediacom since 2008
Previously worked in Citibank Indonesia for 8 years with positions as Credit Risk Operations Director (4years) and Human
Resources Director (4 years), Principal Consultant at Pricewaterhouse Coopers and General Manager Training &
Development in PT Excelcomindo Pratama Tbk.
Also a “Research Associate” in the Notredame Dave University in 1993-1994 and as a Lecture of the Institute PPM fro more
than 8 years.
Currently, a speaker at several seminars, particularly in the areas of leadership and human resources.
MBA degree in Marketing from Strathclyde Graduate Business School, Scotland, Britain
49
Highly Qualified and Experienced Management Team
Oerianto Guyandi
CFO


21 years of relevant
experience


David Fernando Audy
Director


8 years of relevant
experience


Director of MNC since 2009 and Group CFO since 2008. Also CFO of PT Global Mediacom Tbk.
Previously held several important positions such as Director/Vice President Director in PT MNC Sky Vision, PT Rajawali Citra
Televisi Indonesia, and PT Global Informasi Bermutu
Started his career in Public Accounting Firm Prasetio Utomo & Co. (Arthur Andersen) and Salim Group
Bachelor degree in Economy in Accounting from the University of Indonesia and a Bachelor degree in Agricultural
Engineering from Institute Pertanian Bogor in Indonesia
Director of PT Global Mediacom Tbk since 2012. Also the President Director of PT Global Informasi Bermutu since 2010 and
PT Linktone Indonesia since 2011
Previously held several important positions such as the Managing Director of PT Media Nusantara Informasi, as Senior
Manager Corporate Finance then as Head of Investor Relations of PT Media Nusantara Citra Tbk
Previously worked at PT Elektrindo Nusantara from 2005 to 2006 and PT Mobile-8 Telecom Tbk from 2003-2005
Master of Commerce in Professional Accounting from the University of New South Wales and a Bachelor of Commerce in
Finance and Information System from the University of New South Wales
50
Section 7
Financial Update Global Mediacom
Financial Performance from 12M 2011 (Audited) until 12M 2013
12M 2011 to 12M 2013 Financials
2011
IDR trillion
2012
2013
CAGR +18%
21,07
19,99
CAGR +18%
8,93
CAGR +11%
15,11
14,3
13,35
10,82
10,02
7,16
Revenue
Asset
Equity
12M 2011 to 12M 2013 Solvency Metrics
1,13
1,02
2011
2012
2013
0,9
22%
24%
36%
32%
11.03
7.50
Debt/EBITDA
Source: Company
Debt/Equity
38%
38%
9.84
EBITDA/Interest
EBITDA Margin
52
Segmental Overview – Revenue
Revenue 12M 2012
Revenue12M 2013
1%
5%
1%
30%
Content and advertising
based media
5%
27%
Content and advertising
based media
Subscribers based
media
Subscribers based
media
Media Support and
Infrastructure
Media Support and
Infrastructure
Others
Others
64%
67%
53
Segmental Overview – EBITDA
EBITDA 12M 2012
EBITDA 12M 2013
0% 0%
1% 0%
30%
Advertising based
media & Content
29%
Advertising based
media & Content
Subscriber based
media
Subscriber based media
Media Support and
Infrastructure
Media Support and
Infrastructure
Others
Others
70%
70%
54
Summary of Financial Performance
FY 2012 & 2013 – 9M 2013 & 9M 2014
IDR billions
Revenue
Advertising Revenues
Subscribers based media
Online Based Media/Games
Media Shopping
Content and Channel
Others
Operating expenses
Core EBITDA
Core EBITDA Margin
Net Income
12M 2012 12M 2013
%chg
9M 2013
9M 2014
%chg
8,925
10,020
12%
7,325
8,007
9%
5,406
5,715
6%
4,323
4,648
8%
2,392
3,018
26%
2,230
2,436
9%
142
287
102%
234
415
77%
24
85
254%
62
81
31%
141
164
16%
14
66
371%
820
751
-6%
462
361
-22%
6,280
7,163
14%
5,303
6,064
14%
3,394
3,828
13%
2,726
2,844
4%
38%
38%
37%
36%
1,299
620
632
690
-52%
9%
55
Section 8
New Media
PLAYMEDIA – FIBER TO THE HOME TECHNOLOGY
1,000,000 homes pass under construction in 6 Big Cities
 Speed – Ultra Speed Internet up to 200 Mbps equal for both upload
and download
 Reliability – Stable Connection supported by Full-Fiber To The
Home Network
 Content – Offers 122 pay-TV channels including 34 exclusive
channels; 20 of which are MNC branded channels
 Features – Unique Interactive Features such TV on Demand, Time
Shift, Network Personal Video Recording (NPVR), Android STB
 Play Media to be a disruptive force – Existing competitors cant
match these offerings
57
ONLINE MEDIA – EXCITING OPPORTUNITIES
Letang (www.joymeng.com) a fast growing mobile games company in
China. It’s latest casual mobile games Bonnie Bear has achieved more
than 160m downloads in since its launch early 2014 and its 2nd game
Armour Heroes has received more than 20m download in just 2 months.
We Chat is a social media platform that supports sending voice, video,
photo and text messages. We Chat Indonesia currently is installed in over
50% of all smartphones in Indonesia.
Okezone.com is an online portal of news and entertainment focusing on
Indonesian readers both in the homeland and those living abroad.
Currently www.okezone.com receives around 2 mio unique daily visitors.
MNC Shop, Joint Venture with GS Home Shopping No.1 Home Shopping
Channels. The first 24 hours integrated TV and online shopping service in
Indonesia.
Moviebay is a paid online video streaming service from Indonesia which
offers a rich library of movies and video content.
58
Very excited about China Mobile Games
Bonnie Bears
Crayon Shin Chan
Armour Heroes
 Over 234 million unique user since early 2014
 Expect $45 million in gaming revenue for 2014, 5x of 2013
 Letang is 51% controlled by MNC Media Investment Ltd, which is
listed on the ASX.
 MNC Media Investment is 87% owned by Globalmediacom
59
MNC TV
Building of new buildings to integrate 3 TV stations
RCTI
Global TV
MNC News Center
60
Thank You