NEWS
“Free-to-air will not die” – Manoj Punjabi; Indonesia’s newest free-TV boss takes his place at Net TV
14 October 2024
One of Indonesia’s top producers, Manoj Punjabi, takes his seat as the country’s newest free-TV boss this month following a high-profile acquisition of a majority stake in Net TV.
Punjabi’s MD Entertainment holds a stake of about 80% in Net TV.
The Rp1.65 trillion/US$107 million acquisition of the 10-year-old network, which has struggled to maintain its share, was approved earlier this month.
In the six months to end June 2024, Net TV had a share of 1.6% for 16th place on a list of 20 free-TV stations and well behind market leaders SCTV (13.9%), IVM (13%), MNCTV (11%), RCTI (10.3%) and Trans7 (8.4%), according to Nielsen rankings.
The Net TV deal caps an effort of more than a decade to access the free-TV market, Punjabi told delegates at Media Partners Asia’s APOS conference in Bali at the end of September, only days before the acquisition was finalised.
“I was after FTA (free to air) since 2013 but it didn’t happen,” Punjabi said. “There were no sellers. Even the losing companies didn’t want to sell.”
A few years later, he pulled back. “In 2017, I said, that’s it. It’s a sunset.”
In 2020, he revised his outlook again, and found himself with a new enthusiasm about free to air TV.
Cinema was struggling, and streaming was emerging.
Punjabi’s MD Entertainment, with its rich library and production capabilities, benefited in a big way from regional and international streaming activity.
“But it’s not the easy for streaming. It will take time because of the infrastructure, internet penetration,” he said.
“FTA will not die... if it was sunset 5.35pm three years ago, then it’s 5.36pm now. It’s an evolution for us. We need to enter this space. I believe I can turn this around... change the game,” he added.
“I have my team. We will keep creating content, keep creating movies... we know the market.”
In his new role at Net TV, Punjabi replaces Deddy Hariyanto as president director. Hariyanto resigned this month along with three others in a move that paved the way for...
One of Indonesia’s top producers, Manoj Punjabi, takes his seat as the country’s newest free-TV boss this month following a high-profile acquisition of a majority stake in Net TV.
Punjabi’s MD Entertainment holds a stake of about 80% in Net TV.
The Rp1.65 trillion/US$107 million acquisition of the 10-year-old network, which has struggled to maintain its share, was approved earlier this month.
In the six months to end June 2024, Net TV had a share of 1.6% for 16th place on a list of 20 free-TV stations and well behind market leaders SCTV (13.9%), IVM (13%), MNCTV (11%), RCTI (10.3%) and Trans7 (8.4%), according to Nielsen rankings.
The Net TV deal caps an effort of more than a decade to access the free-TV market, Punjabi told delegates at Media Partners Asia’s APOS conference in Bali at the end of September, only days before the acquisition was finalised.
“I was after FTA (free to air) since 2013 but it didn’t happen,” Punjabi said. “There were no sellers. Even the losing companies didn’t want to sell.”
A few years later, he pulled back. “In 2017, I said, that’s it. It’s a sunset.”
In 2020, he revised his outlook again, and found himself with a new enthusiasm about free to air TV.
Cinema was struggling, and streaming was emerging.
Punjabi’s MD Entertainment, with its rich library and production capabilities, benefited in a big way from regional and international streaming activity.
“But it’s not the easy for streaming. It will take time because of the infrastructure, internet penetration,” he said.
“FTA will not die... if it was sunset 5.35pm three years ago, then it’s 5.36pm now. It’s an evolution for us. We need to enter this space. I believe I can turn this around... change the game,” he added.
“I have my team. We will keep creating content, keep creating movies... we know the market.”
In his new role at Net TV, Punjabi replaces Deddy Hariyanto as president director. Hariyanto resigned this month along with three others in a move that paved the way for the new leadership team.
The other directors exiting the station are Azuan Syahril, Fendy Nagasaputra, Ferry, Halim, Clifford David Rees (independent commissioner) and Rachmat Nugroho.
The sole board member from the previous team to go forward under Punjabi is domestic media veteran, Surya Hadiwinata, who heads up sales and business development.
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