Cinema XXI Records Solid Business Performance and Fundamentals with Revenue of IDR5.2 trillion in 2023
- Throughout the year 2023, Cinema XXI has opened 18 new cinema locations with 75 new screens, bringing the total number of cinemas operated by the Company to 240, with 1,280 screens in 60 cities.
- Cinema XXI’s total revenue grew by 18.9%, primarily derived from cinema revenue, which contributed approximately 60% of total revenue
- Cinema XXI’s total admissions increased to 84.3 million in 2023.
Jakarta, March 8, 2024 – PT Nusantara Sejahtera Raya Tbk (Cinema XXI, stock code: CNMA) recorded a stable and solid financial and operational performance. The Company's revenue increased by 18.9% to IDR5.2 trillion, which is higher than IDR4.4 trillion revenue generated during the same period in 2022. Additionally, Cinema XXI achieved a net profit of IDR742.3 billion, a growth of 47.1% compared to the previous year, with EBITDA of IDR1.7 trillion.
Cinema XXI President Director Hans Gunadi stated that as the largest cinema chain operator in Indonesia with over 35 years of experience in the film exhibition industry, Cinema XXI is committed to maintaining performance growth by strengthening its business fundamentals. “The improvement of the Company’s performance is achieved by prioritizing cinema ticket sales, developing Food and Beverages (F&B) products, and enhancing digital platform and advertising. In 2023, Cinema XXI's total revenue derived from cinema ticket revenue at 60%, F&B product business line at 35.4%, digital platform at 2%, and advertising at 1.9%,” Hans added.
To further improve its service to Indonesian moviegoers, Cinema XXI consistently expands its two main business lines, which are cinemas and F&B products. Cinema XXI has opened 18 new locations with an additional 75 screens in 2023 to ensure that the public has the widest possible access to watch their favorite movies. As a result, as of December 31, 2023, Cinema XXI has 240 cinemas with a total of 1,280 screens in 60 cities/regencies across Indonesia. This expansion has led to an increase in admission, with a 25.7% rise from 67.1 million viewers in 2022 to 84.3 million viewers in 2023. The number resulted in a Gross Box Office (GBO) worth IDR 3.5 trillion.
Director Cinema XXI Arif Suherman added, "The increase in admission is also reflected in the revenue from the F&B product business line, which grew 29.3% in 2023 to IDR2.0 trillion from IDR1.6 trillion in the same period last year. The growth is also reflected in the revenue of the F&B product business line to GBO, which is 58.3%. "We are committed to consistently bringing innovation in a range of quality F&B products to better complete the moviegoing experience in Cinema XXI,” Arif added.
New record for domestic film achievement
In the past 11 years (2013-2023), 2023 marked a significant milestone in cinema history as there were 20 domestic movies watched by more than 1 million people. This is undoubtedly a better situation than the pre-pandemic condition when the record was only 15 movies. The year 2022 marked a turning point for the cinema and domestic film industries as the number of movies watched by more than 1 million viewers reached 14 movies.
According to Filmindonesia.or.id, 20 domestic movies have been watched by more than 1 million viewers across all cinema chains in Indonesia throughout 2023, including:
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Source: filmindonesia.or.id as of February 5, 2024
Hans continued that the rise in the number of domestic movie viewers has significantly contributed to the growth of Cinema XXI's revenue. This also reflects the enthusiasm and support of the Indonesian people towards the domestic movie industry. Moving forward, Cinema XXI will remain committed to providing the best and uncompromised moviegoing experience at an affordable price to all Indonesians. To achieve this, the Company plans to add around 100 new screens in various cities and regencies throughout Indonesia by 2024. In addition to offering the best moviegoing experience, Cinema XXI is always ready to be a second home for people to spend quality time with family and friends.
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 December 31, 2023, Cinema XXI has presented 1,280 screens in 240 cinema locations across 60 cities throughout Indonesia.
In 2006, Cinema XXI launched m.tix to facilitate SMS-based cinema ticket ordering that was then developed into 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 75 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.