One for the record. Will this up the game for TV business news reporting in Indonesia? What would it mean for companies operating here? Do they need to have better media handling skills to take advantage of this development?
Bloomberg LP will start broadcasting Bloomberg Television Indonesia in May, more than 20 years after the financial news and information giant opened a bureau in the world’s fourth-most populous country and Southeast Asia’s largest economy.
Andrew Lack, chief executive of Bloomberg Media Group, said that Indonesia had huge potential as a market for media content. Bloomberg LP established the Bloomberg Media Group — a combination of its television, print, radio, mobile and digital media properties — in 2011.
Indonesia’s economy grew 6.2 percent in 2012, among the fastest in the Asia-Pacific region and faster than developed economies in Europe and North America. Among the 10 Asean member states, only the Philippine economy expanded at a faster pace.
“When you are in the finance and business information business, you’ve been watching Indonesia in the past several years … I ask, ‘How do I get to Indonesia and how soon?’” Lack said on Thursday.
A survey by market researcher Nielsen in 2010 estimated that there were around 50 million TV viewers in Indonesia, of which around three million were pay TV viewers. Indonesia has a population of more than 240 million people. Bloomberg LP says on its website that the Bloomberg Television network is available in more than 310 million homes worldwide.
To set up its Indonesia operation, Bloomberg Television has formed a partnership with Idea Group, a media holding company backed by Recapital Group, which is headed by Sandiaga Uno and Rosan Roeslani. Idea Group was also behind the creation of the online marketplace Bukalapak.com.
Adithya Chandra Wardhana, the chief executive of Bloomberg Television Indonesia, said that it planned to work with existing broadcast companies in Indonesia on free-to-air, pay TV, Internet and mobile platforms.
Adithya said that the company had secured a deal with local regional television networks such as Jakarta TV in the capital region, Surabaya TV in East Java and Depok TV in West Java. Bloomberg Television Indonesia is also in talks with Makassar TV to provide content for the eastern part of the country.
Bloomberg Television Indonesia is also in talks with several major pay television networks, Adithya said, but declined to name them, as the deals have yet to be finalized. “We target middle-, upper-class and affluent audiences. We will be the only television network that specializes in business and financial news here,” he said.
“We will create business content in Bahasa Indonesia, about 80 percent local and 20 percent international.”
The company has recruited Kania Sutisnawinata and Tomy Tjokro, both of whom are former Metro TV news anchors, and 50 other journalists.
Bloomberg Television Indonesia will also air live from the Indonesia Stock Exchange every day to its global network, which is expected to benefit Indonesia.
“I think Indonesia will benefit most from the exposure that we bring,” said Parameshwaran Ravindranathan, head of Asia Pacific for Bloomberg Television, based in Hong Kong.