MNCN - November 2024 audience market share

Media - November 2024 audience market share In November 2024, MNCN led with a 36.6% audience share, consistent with its 2024 average. SCMA followed with 33.6%, close to its 2024 average of 33.9%. However, MNCN's share declined from 39.8% in 2023, benefiting the Trans TV group. (Source : Company) Comment : We prefer MNCN over SCMA for its leading audience share and digital revenue diversification. With 2025F PE of 3.8x and PBV of 0.2x, MNCN is undervalued. BUY recommendation with a target price of IDR340/share.