Arkadia Digital Media Gladly Reports 40 Percent Revenue Increase in 2023

TheIndonesia.id - PT Arkadia Digital Media Tbk (DIGI) shows positive financial performance in 2023 despite uncertain national economic conditions. The Company which operates in the multimedia and web portal sector, recorded significant growth in revenue and gross profit compared to the previous year.

At the Annual General Meeting of Shareholders (AGMS) held at the Aryaduta Hotel, Jakarta, on Thursday, June 27, 2024, the Company announced their financial performance throughout 2023.

It is reported that DIGI's revenue in 2023 reached Rp 57.89 billion, growing almost 40 percent compared to 2022 which was Rp 41.6 billion.

"In line with revenue, the Company's gross profit also increased 30 percent, reaching IDR 22.22 billion compared to last year's IDR 17.8 billion," said the President Director of PT Arkadia Digital Media Tbk, Suwarjono.

The AGMS of PT Arkadia Digital Media Tbk was attended by the entire Board of Directors and Board of Commissioners of the Company, including Fastabiqul Khair Algatot as Director/CFO, as well as President Commissioner Stephen Kurniawan Sulistyo, Commissioner Iwa Sukresno Karunia, and Independent Commissioner Ariyo Ali Suprapto.

In his presentation, Suwarjono said that the growth in financial performance recorded by the Company was driven by several factors. These include increasing demand for digital media services, advertising revenue, and a number of events managed and run by the Company's work units.

Meanwhile, as of the first quarter of 2024, Arkadia is also reported to have pocketed revenue of Rp 11.52 billion with a gross profit of Rp 4.93 billion. These numbers are almost the same as similar period last year.

Meanwhile, the Company's net profit target in 2023, which was previously projected at Rp 4.118 billion, has not been achieved. But as Suwarjono mentioned, the net profit at the end of 2023, which is still a minus, was in fact a very significant increase and much better than the previous year.

Furthermore, Suwarjono revealed a number of key strategies taken by the Company to improve financial and operational performance. These include continuing programs and collaboration with various parties, both with fellow media, national and international institutions, as well as developing cooperation with content creators.

The last part of strategy is evident as during Suara.com's 9th anniversary last year, for example, the Company has launched one of its newest platforms, namely the Nexus Creator Hub.

"This is a platform that accommodates collaboration and projects by content creators and influencers, with clients from the government, private sector and brands. As this platform was launched, our team immediately moved to gather local influencers, especially from the small and micro category," said Suwarjono.

Meanwhile, in the momentum of its 10th anniversary in March 2024, Arkadia in collaboration with the International Media Support (IMS) has also just launched the Local Media Community. This is a forum for local and small-scale media communities, which many of whom have previously collaborated with Suara.com or participated in various programs managed by Suara together with IMS.

This has brought Suara.com in the last three years as the backbone for the development of local media in Indonesia. Various activities have been carried out, ranging from workshops or trainings, mentoring in the Start-up for Media Start-up (SMS) program, managing media innovation funding, and held big gathering events such as the Jatim Media Summit (JMS) and the Local Media Summit (LMS) which has been regular since 2022.

"Then, the Company's strategy that has a big effect on revenue is our focus on event management activities, both based on orders from client such as government and private sectors, as well as activities designed and initiated by the Company's team," said Suwarjono.

Suwarjono explained that this event management or organizing was developed because it was considered potential to become an important source of income for the Company in the future. As a result, using the resources and work units it already has, the Company has successfully managed small, medium and large events, both local, national and international, which so far have not only been successful in adding revenue but also further enriched the Company's portfolio.

Accompanied by Fastabiqul Khair Algatot, Suwarjono also conveyed similar information and statements in the Public Expose session held after the AGMS agenda. This time, not only explaining the potential and achievements, including the Company's track record since 2014, the two members of the Board of Directors expressed optimism for even better achievements in the future.

The Company's Directors are optimistic that Arkadia can continue to achieve sustainable growth in performance, especially if supported by stable and well-maintained national economic conditions, as well as government policies that are more accommodative of the investment climate in the Company's business activity sector.