Cinema XXI Records Solid Performance with Revenue & Total Admission Grow Up to 22% in H1 2023
- Cinema XXI generated total revenue of Rp 2.4 trillion in the first half of 2023, increased by 22.0% compared to the same period last year (year on year/YoY).
- Total admission in the first half of 2023 was recorded at 36.9 million, increased by 22.3% YoY.
- Committed to grow the total number of screens, Cinema XXI had opened seven new cinema locations with 31 new screens throughout Indonesia during the first half of 2023.
JAKARTA, August 29, 2023 - PT Nusantara Sejahtera Raya Tbk (Cinema XXI) recorded a solid performance during the first half of 2023 by generating total revenue of Rp2.4 trillion or increased 22.0% from Rp2 trillion in the first half of 2022 (year on year/YoY).
In the first half of 2023, revenue was primarily derived from cinema revenue, which contributed approximately 60.2% of total revenue, followed by Food and Beverages (F&B) revenue at 35.6%, advertising revenue at 1.6% and digital platforms revenue at 2.2%. Furthermore, Cinema XXI managed to record EBITDA of Rp681.1 billion, profit before tax of Rp274.5 billion, and net profit of Rp215.1 billion during the first half of 2023.
Total admission increased by 22.3% to 36.9 million in the first half of 2023 from 30.1 million in the first half of 2022 (YoY). This led to a Gross Box Office (GBO) of Rp 1.6 trillion in the first half of the year.
The increase in total admission is aligned with the 40.5% increase in F&B products sales, which reached Rp948.2 billion in the first half of 2023 from Rp675 billion in the first half of 2022. Therefore, the F&B products sales compared to GBO grew from 47.9% in the first half of 2022 to 58.5% in the first half of 2023.
Cinema XXI’s solid performance in the first half of 2023 was driven by positive performance in the second quarter of 2023, when people spent the Eid al-Fitr 1444 H holidays as well as school holidays to watch high-quality movies in the cinemas. Total admission in the second quarter of 2023 increased by 74.0%, compared to the first quarter of 2023, while total revenue grew by 74.9%.
"In order to improve the company's performance and services to moviegoers and all stakeholders, Cinema XXI will continue to provide the widest possible access for people to watch their favorite movies, including opening cinemas in potential locations as well as launch innovative F&B products to present the ultimate moviegoing experience,” says Hans Gunadi, President Director of Cinema XXI.
Throughout the first semester of 2023, Cinema XXI has opened seven new cinema locations with 31 new screens, including in Cianjur, which previously had no cinema presence yet. As of June 30, 2023, Cinema XXI has presented 1,239 screens across 230 cinema locations in 56 cities throughout Indonesia. "These new cinema openings align with our commitment to launch approximately 80 new screens by the end of 2023 and 140 new screens by the end of 2024. We hope that when the movie industry and economic condition are fully recovered, our cinema presence in more cities will provide the best-in-class moviegoing experience for Indonesians," adds Hans.
Cinema XXI continues to innovate and presents a various range of F&B products that meet customer's needs and preferences to optimize revenues from F&B products sales. During the first half of 2023, Cinema XXI introduced new F&B products, such as Popcorn Milo Dinosaurs, Dark Choco Peanut Bread, Sesame Korean Chicken, Rawon Fried Rice, Iced Avocado Latte, Avoccino, and Go Matcha, along with relaunching nachos as one of featured product.
In regards to the people's interest in domestic films, filmindonesia.or.id reported that seven domestic films reached more than one million admissions across all cinema chains in Indonesia throughout 2023.
About Cinema XXI
Cinema XXI, operates under the auspices of PT Nusantara Sejahtera Raya Tbk, is the largest cinema chain operator in Indonesia with 35 years of experience in the film exhibition industry. Cinema XXI is committed to always providing the best moviegoing experience and convenience for the people of Indonesia. As of the end of June 2023, Cinema XXI has presented 1,239 screens in 230 cinema locations across 56 cities throughout Indonesia.
In 2006, Cinema XXI launched m.tix to facilitate SMS-based cinema ticket ordering that was then developed into onlinebased application. In 2012, Cinema XXI has presented a movie-viewing experience with revolutionary technology, namely IMAX theater. To better improve the services given to customers, Cinema XXI has also equipped the theaters with the latest "Dolby Atmos" audio system, which is now available on 66 screens.
Not only a place to watch movies, Cinema XXI is also a second home for people to spend their quality time with family and friends. Cinema XXI presents an unforgettable moviegoing experience for today and tomorrow. For three consecutive years in 2017, 2018, 2019 Cinema XXI has been awarded the "World Branding Award" in Kensington, London as the Best Brand in the Entertainment Cinema Category (National Tier). In early 2019, Cinema XXI has also been awarded the "Millennials Top Brand Awards" by one of the preferred media of Indonesia’s young generation as the first choice of millennials for the category of leading cinema network in Indonesia. Despite of the pandemic condition, in 2020, Cinema XXI has been named "Industry Champion of the Year" by the Asia Corporate Excellence and Sustainability (ACES) Awards and “Indonesia Best Managed Company” by Deloitte in 2023.
-------
For more information, please contact:
Corporate Communication & Brand Management
PT Nusantara Sejahtera Raya Tbk (Cinema XXI)
Email: corporate.communications@cinema21.co.id