April 18, 2025 | 03:22 pm
TEMPO.CO, Jakarta - PT Tempo Inti Media Tbk. (TMPO) has announced a significant financial upswing, with its net profit soaring by 44.37 percent from Rp1.51 billion in 2023 to Rp2.18 billion in 2024. This substantial growth was accompanied by a healthy 17.07 percent increase in revenue, reaching Rp253.78 billion in 2024 compared to Rp216.76 billion in the previous year.
According to CEO Arif Zulkifli, this robust performance was fueled by successful efficiency measures and augmented revenue streams from Tempo's established print operations.
"The decline in revenue from the Advertising Division was compensated by a significant growth in revenue from digital circulation and print circulation," Arif stated in a press release on Thursday, April 17, 2025.
He noted that despite Tempo's consistent critical perspective towards governmental policies, the company has maintained a strong financial standing through the support of its customer base.
Throughout 2024, the print circulation of Tempo's journalistic products experienced a growth of 13 percent compared to the preceding year, while digital circulation saw an even more substantial increase of 43 percent relative to 2023.
This revenue augmentation was driven by increases in magazine revenue and magazine advertising, which collectively rose to Rp123.49 billion from Rp121.22 billion in 2023 (a 1.87 percent increase); printed goods, which surged to Rp83.48 billion from Rp45.33 billion (an impressive 84.16 percent increase); creative house services, which grew to Rp11.22 billion from Rp8.4 billion (a 33.57 percent increase); and Tempo TV, which saw a remarkable increase to Rp8.38 billion from Rp3.92 billion (a 113.77 percent increase).
Conversely, the company saw revenue declines in event organizing (down 21.82 percent to Rp15.22 billion); Rombak Media (down 9.97 percent to Rp8.03 billion); newspapers and newspaper advertisements (a 70.52 percent decrease to Rp2.14 billion); rentals (down 4.2 percent to Rp1.14 billion); and paper sales (down 34.32 percent to Rp550.23 million).
Arif addressed the common assumption that digital growth would negatively impact print circulation, stating that 2024 demonstrated the opposite. "The good performance in 2024 signifies that a notable change for Tempo through a single brand is on the right track," he affirmed.
Furthermore, Arif emphasized the growing contribution of Tempo's digital business lines, including Tempo TV, Tempo Data Science, and Tempo Institute, to the company's profitability. He also underscored Tempo's strategic investments in human capital, with the recruitment of 74 new employees across marketing, editorial, production, and information technology, expressing optimism that this investment will further boost future revenue.
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