Cinema XXI Increased Its Revenue by 15.5% YoY until September 30, 2023
- Cinema XXI has opened 10 new cinema locations with an additional 45 screens as of September 30, 2023.
- Until September 30, 2023, revenue from the food and beverages (F&B) product business line at Cinema XXI increased 30.1% YoY.
- Total admission grew 15.9% to 59.1 million viewers with a cinema occupancy rate of 26.5% by September 30, 2023.
JAKARTA, October 27, 2023 – The largest cinema chain in Indonesia, PT Nusantara Sejahtera Raya Tbk (Cinema XXI) consistently recorded a solid performance until the end of September 2023 by generating total revenue of IDR 3.8 trillion or an increase of 15.5% YoY with EBITDA of IDR 1.1 trillion and net profit of IDR 420 billion. The revenue was primarily derived from cinema ticket revenue contributing approximately 60.0% of total revenue, followed by the F&B product business line at 35.7%, advertising revenue at 1.7%, and digital platform revenue at 2.1%.
“Cinema ticket revenue, the company's main revenue driver, was supported by a 15.9% increase in total admission from 51.0 million viewers in the first nine-month period ending September 30, 2022, to 59.1 million viewers in the same period in 2023. More details, Cinema XXI's total admission in the third quarter of 2023 was 22.3 million viewers, an increase from 20.8 million in the third quarter of 2022. This increase resulted in a Gross Box Office (GBO) worth IDR 2.5 trillion as of September this year," explained Hans Gunadi, President Director of Cinema XXI.
Hans also said that Cinema XXI is committed to always providing the best quality and uncompromised moviegoing experience at affordable prices for the people of Indonesia. The commitment and consistency have paid off with the increasing number of movie lovers who choose Cinema XXI to enjoy their favorite movies. Cinema XXI will continue to present the best-in-class amenities, the best films from both domestic and international as well as a range of quality food and beverages to complete the moviegoing experience at Cinema XXI.
Meanwhile, Arif Suherman, Director of Cinema XXI added, "The increase in admission is also reflected in the revenue from the F&B product business line that grew 30.1% in the nine-month period ending September 30, 2023 to IDR 1.36 trillion from IDR 1.05 trillion in the same period last year. The growth is also reflected in the revenue increase of the F&B product business line to GBO from 50.0% in the nine-month period ending on September 30, 2022, to 58.9% in the same period this year."
To further improve its services to all moviegoers in Indonesia, Cinema XXI consistently expands its two main business lines, namely cinema and F&B products. On the cinema side, Cinema XXI has opened a number of new cinema locations to provide the widest possible access for the public to watch their favorite movies. Until September 30, 2023, Cinema XXI has opened 10 new locations with an additional 45 new screens.
The presence of more cinema locations will have a positive impact on the growth of the domestic film industry. As of October 23, 2023, according to data from filmindonesia.or.id, twelve domestic films have been watched by more than one million viewers, including:
In terms of the F&B product business line, Cinema XXI presents a range of quality foods and beverages to better complete the moviegoing experience. After previously having sweet variants for croffle products, in the third quarter of 2023, Cinema XXI complements the selection with savory variants, namely Truffle Mushroom Croffle and Egg 'n Cheese Croffle to further enhance the quality time spent with friends and loved ones.
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 September 30, 2023, Cinema XXI has presented 1,250 screens in 232 cinema locations across 56 cities throughout Indonesia.
In 2006, Cinema XXI launched m.tix to facilitate SMS-based cinema ticket ordering which was then developed into an online-based application. In 2012, Cinema XXI presented a movie-viewing experience with revolutionary technology, namely the 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 quality time with family and friends. Cinema XXI presents an unforgettable moviegoing experience for today and tomorrow. For three consecutive years in 2017, 2018, and 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 was 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 the pandemic condition, in 2020, Cinema XXI was named "Industry Champion of the Year" by the Asia Corporate Excellence and Sustainability (ACES) Awards and “Indonesia Best Managed Company” by Deloitte in 2023.