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Indonesia's Visi Media sees 30 pct rise in revenue on World Cup
February 3, 2014 / 8:43 AM / 4 years ago

Indonesia's Visi Media sees 30 pct rise in revenue on World Cup

JAKARTA, Feb 3 (Reuters) - The Bakrie Group’s media arm, PT Visi Media Asia, is forecasting a 30 percent rise in revenue this year as the company holds exclusive rights to broadcast the World Cup soccer tournament in Indonesia, its chief executive said.

The company is also projecting capital expenditure of 1 trillion rupiah ($81.9 million) this year, 2.5 times the figure in 2013, to expand its free-to-air and pay television services, Robertus Kurniawan told reporters on Monday.

Kurniawan added that revenue last year is estimated to grow 25 percent from 1.24 trillion rupiah in 2012.

“With the World Cup 2014, the number of viewers is estimated to rise up to 700 percent and VIVA is confident of achieving high rating and audience shares in the morning primetime hours,” the company said in a separate statement.

The World Cup tournament is expected to kick off in June.

Visi Media is also aiming to sell an up to 20 percent stake of its television asset through an initial public offering this year, partly to pay off its debt, Kurniawan said.

($1 = 12,210 rupiah)

Reporting by Fathiya Dahrul; Writing by Eveline Danubrata

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