Indonesia Media, Drama Fever Drives Audience Share

Media Nusantara was the top gainer in prime time audience share in Nov 2015 (+18% MoM), driven by its RCTI station (+33% MoM). Surya Citra’s audience share in prime time declined by 4% in November, but it has been able to maintain its first position in non-prime time audience share, thanks to Indosiar TV station (+8% MoM). We maintain our BUY call on Surya Citra and NEUTRAL call on Media Nusantara.

Media Nusantara’s prime time audience share improves
Based on Nielsen data, Media Nusantara’s (MNCN IJ, NEUTRAL, TP: IDR1,850) prime time audience share improved in November while those of other media groups diminished. Media Nusantara’s prime time audience share grew 18% MoM to 40.9% during the month, supported by Rajawali Citra Televisi Indonesia (RCTI), which saw its prime time audience share (+33% MoM) boosted by its new programme line-up like “Anak Jalanan”. This new drama has managed to beat Surya Citra Televisi’s (SCTV) new drama “Ganteng Ganteng Serigala” during prime time.

In addition, RCTI’s other TV dramas like “Tukang Bubur Naik Haji” and “Perempuan Di Pinggir Jalan” managed to score good ratings in Nielsen’s top 10 programmes in November. Media Nusantara’s other TV stations such as MNCTV also saw prime time audience share improve by 2% MoM during the month. Meanwhile, Global TV’s prime time audience share dropped by 8% MoM in November.

Surya Citra’s prime time audience share supported by Indosiar
Surya Citra Media’s (Surya Citra) (SCMA IJ, BUY, TP: IDR3,300) prime time audience share was buoyed by Indosiar TV station, which saw a 4% MoM improvement driven by its new TV shows like “D’Academy Asia”. Meanwhile, SCTV’s audience share dropped by 12% MoM, as its drama TV series like “Pangeran” and “Ganteng Ganteng Serigala” faced deteriorating popularity in prime time. This resulted in Surya Citra’s prime time audience share declining by 4% MoM to 31.6%.

Surya Citra dominates non-prime time audience share
Surya Citra has succesfully improved its non-prime time audience share in November, up 4% MoM to 30.2%. This was due to Indosiar’s strong performance with its non-prime time audience share jumping 8% MoM to 14.1%, thanks to its TV shows like “Stand Up Comedy Academy” which now airs in non-prime time. In our opinion, Surya Citra has managed to capture the audience share from Trans Corp, which saw its non-prime time audience share falling by 7% MoM to 17.5%.

Competition in audience share getting fierce
We believe Media Nusantara’s rising audience share could lead to an improvement in its rate card. However, it remains to be seen if the improvement is sustainable in the long term, as competition for prime time audience share is getting fierce, with SCTV and RCTI fighting to get the first position.