GoTo's Sales and Marketing Expenses Began Decreasing in 2019

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Reza Pahlevi 16/03/2022 14:00 WIB

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GoTo's sales and marketing expenses exceeded its net revenue until July 31, 2021. This was also the case in 2018 and 2019.

GoTo's Net Income and Sales & Marketing Expenses, 2018-2021*

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GoTo's Net Income and Sales & Marketing Expenses, 2018-2021*

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The proliferation of GoTo (formerly Gojek) advertisements has incurred significant costs. As of July 31, 2021, GoTo had spent Rp 2.81 trillion on sales and marketing.

This figure even exceeded GoTo's net income of Rp 2.52 trillion during the same period. This higher marketing expense than net income also occurred in 2018 and 2019.

In 2018, sales and marketing expenses were recorded at Rp 8.08 trillion, more than five times GoTo's net income of Rp 1.44 trillion that year.

In 2019, marketing expenditure was significantly higher, reaching Rp 14.37 trillion – over six times the net income of Rp 2.3 trillion for the same period.

Sales and marketing expenses were lower than income only in 2020. That year, GoTo recorded a net income of Rp 3.33 trillion with sales and marketing expenses of Rp 2.55 trillion.

Based on preliminary prospectus data, GoTo placed its advertisements both online and offline. This includes television commercials, digital media, collaborations with influencers, and others. GoTo also conducted direct marketing, such as offering cashback, loyalty points, delivery subsidies, and more.

GoTo plans to list on the Indonesia Stock Exchange (IDX) on April 4, 2022, offering 52 billion shares priced at Rp 316 - Rp 346 per share.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."