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[News] Investing In Indonesian Movies Start To Pay Off
Posted at: 15 March 2019

Last year, the Indonesian film industry celebrated a new record of over 50 million viewers for a total of 132 local films. And the country isn’t just doing well domestically, it is also becoming a bigger player in the global film market.

Indonesia’s box office takings reached $355 million last year, up 2.8 percent from $345 million in 2017, making the country the 15th biggest market in the world and sixth largest in Asia Pacific, according to Rance Pow, the founder and chief executive of cinema industry consulting firm Artisan Gateway.

Artisan Gateway's clients include Hollywood's big studios, such as Dreamworks Animation, Paramount Pictures, Warner Brothers, Walt Disney Pictures and Sony Pictures. In Indonesia, the company worked with Cinema XXI in 2013 to acquire the IMAX rights for Indonesia, and with Lippo Group’s Cinemaxx in 2015 as strategic advisors.  Local films have increased its market share to 37 percent in 2018 from 20 percent in 2015.

In fact, they have dominated the highest grossing list in the past three years, with mega hits such as "Warkop DKI Reborn: Jangkrik Boss! Part 1" (2016) that attracted 6.8 million viewers and "Dilan 1990" (2018) with 6.3 million viewers.

The fact there are more local movies going past the 1 million viewers benchmark reflects the improving quality of the films and the audience’s trust in them. The commercial success of local films will definitely draw more investment and more interest from local and international sources.

(source: The Jakarta Globe)