Surya Citra Media's Profits Fall Despite Increased Revenue

Emtek-owned media company, PT Surya Citra Media Tbk, recently released its financial report for the first half of 2022. The parent company of SCTV and Indosiar reported a decrease in net profit despite an increase in revenue.

The company, with the stock code SCMA, recorded revenue of Rp3.16 trillion in the first half of 2022. This revenue increased by 7.1% year-on-year (yoy) from Rp2.95 trillion.

However, SCMA's programming and broadcasting expenses swelled by 18.2% (yoy) to Rp1.62 trillion. Operating expenses also increased by 38.3% (yoy) to Rp906.46 billion.

This increase in expenses caused the company's net profit to decline by 15.3% (yoy) to Rp616.44 billion. In the same period last year, net profit was recorded at Rp727.38 billion.

This year, SCMA is aggressively developing its over-the-top (OTT) platform business with Vidio.com. The platform is currently focused on developing local and sports content.