Busy Cinemas, Cinema XXI Revenue Increases in the First Half of 2024

Economics & Macro

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Nabilah Muhamad 30/07/2024 16:02 WIB

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Cinema XXI's revenue increased by 21.8% year-on-year (YoY) to Rp2.96 trillion in the first half of 2024. This growth was primarily driven by increased revenue from cinemas.

Cinema XXI Revenue and Profit, First Semester (2023-2024)

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Cinema XXI Revenue and Profit, First Semester (2023-2024)

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PT Nusantara Sejahtera Raya Tbk, owner of Cinema XXI, reported revenue of Rp2.96 trillion in the first half of 2024, a 21.8% increase year-on-year (YoY).

This growth was primarily driven by a 28.13% YoY increase in cinema ticket sales to Rp1.87 trillion, contributing 63% to their total revenue.

Cinema XXI's food and beverage sales also increased by 13.57% YoY to Rp980.4 billion, contributing 33% to total revenue.

"This performance growth also reflects that the cinema industry is on the right track following the post-pandemic recovery," said Cinema XXI President Director Suryo Suherman in a press release on Friday (26/7/2024).

Meanwhile, advertising revenue decreased by 16.68% YoY to Rp32.83 billion; digital platform revenue increased by 7.03% YoY to Rp56.56 billion; and revenue from events and other sectors grew by 29.91% YoY to Rp14.01 billion.

In line with the increase in revenue, profit attributable to the parent entity surged by 93.9% YoY to Rp389.19 billion in the first half of 2024.

During the first half of this year, Cinema XXI opened 8 new locations with an additional 37 screens, including 6 IMAX studios.

As of June 30, 2024, Cinema XXI had a total of 248 cinemas with 1,317 screens spread across 61 cities/regencies in Indonesia.

"The addition of Cinema XXI cinema locations in various regions of Indonesia is in line with our commitment to providing the widest possible access to watching movies at affordable prices for all Indonesian people," said Suryo.

Editor : Adi Ahdiat

"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."

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Busy Cinemas, Cinema XXI Revenue Increases in the First Half of 2024

Busy Cinemas, Cinema XXI Revenue Increases in the First Half of 2024

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Busy Cinemas, Cinema XXI Revenue Increases in the First Half of 2024

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