Local conglomerate Lippo Group is also expanding rapidly through its Cinemaxx brand, which has 45 locations with 226 screens and is aiming to quadruple that number to 1,000 screens within five years. CJ CGV currently has 47 sites with 300 screens in Indonesia and will soon be followed by rival Korean exhibitor Lotte Cinema, which is expected to open its first site in Jakarta before the end of the year. The changes prompted Korean exhibitor CJ CGV, already present in the market through a joint venture, to start expanding rapidly, competing with a monopoly previously held by Indonesia’s Cinema 21 Group. Foreign investors can now hold 100% stakes in companies involved in production, distribution and exhibition. Kickstarting growth was a regulatory shake-up in 2016, instigated by Indonesia’s business-friendly president Joko Widodo, which removed the film industry from the country’s so-called “negative list” preventing foreign investment. “There are more cinemas for the rising middle class and more demand for content from the growing numbers of OTT platforms in Indonesia.” Screen expansion “Compared to five or six years ago, it’s much easier to get projects off the ground and budgets are increasing,” says Indonesian producer and Base Entertainment co-founder Shanty Harmayn.
Indonesian arthouse films are also appearing regularly on the festival circuit with Garin Nugroho’s Memories Of My Body premiering at this year’s Venice Film Festival, following the success of Mouly Surya’s Marlina The Murderer In Four Acts and Kamila Andini’s The Seen And Unseen, which premiered at Cannes Directors’ Fortnight and Toronto respectively last year.Īs in other emerging markets, the growth in box office is starting to attract more investors to the industry. While the US studios are seeing bigger returns - Avengers: Infinity War grossed more than $25m earlier this year and The Nun opened on $7m - local production is also booming.įalcon Pictures’ romantic drama Dilan 1990 grossed an estimated $16.6m this January, while Joko Anwar’s horror Satan’s Slaves, co-produced by Rapi Films and South Korea’s CJ E&M, took around $11m last year.
As a result, box office is finally starting to take off, reaching $345m in 2017, making Indonesia the world’s 15th biggest market outside North America, according to figures from the Motion Picture Association. Although still woefully under-screened, the market has seen the number more than double since 2012 to reach 1,638 screens by mid-2018. With its huge population of 260 million, a large proportion of which is young and social-media savvy, Indonesia has long threatened to become one of Asia’s biggest film markets.īut it’s only in the past few years the territory has started to show signs of real growth.
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