Jakarta. Production house Tripar Multivision Plus (RAAM) recently announced that its latest film “Di Ambang Kematian” (‘On the Verge of Death’) was a box-office hit and attracted at least 3.3 million viewers so far.

As of 2023, RAAM has a library of soap operas equivalent to 15,000 hours, and more than 650 movie titles. 

“[RAAM] has also received orders of soap operas equivalent to 365 hours. Based on the 9M23 financial report, the company’s revenue grew 2 percent from Rp 226 billion to Rp 231 billion,” a RAAM press statement reads.

About 47 percent of the revenue came from soap operas, while movies account for 22 percent. RAAM also recorded a net profit attributable to the parent company of about Rp 51 billion.

“Di Ambang Kematian” became Indonesia’s second-highest-grossing movie this year. However the 9M23 report has yet to reflect the movie’s earnings as it was released on Sep. 28. In other words, its earnings will be included in the Q4 report. The movie’s success is expected to give a huge boost to the company’s revenue in the year-end 2023.

“The company is aiming for Rp 100 billion in net profit this year, supported by ticket sales, film distribution, sales of web series copyright, and soap operas that all contribute positively to the company’s earnings ahead of the year 2023,” the press statement reads.

RAAM is also planning to produce 13 movies next year. The company also continues to develop its digital business and acquired 35 percent shares of DMS+, an OTT platform catered for horror enthusiasts founded by Demian Aditya and Sarah Wijayanto. DMS+ has attracted 1.3 million viewers and recorded 500,000 downloads with 278,000 active users.

RAAM founder Raam Punjabi recently took home the lifetime achievement award at the 2023 Piala Citra Festival Film Indonesia.

"This proves that RAAM's existence is not only due to its significant contribution to the development of the domestic film industry but also for its sustainability as a public company consistently evolving within the Indonesian film industry," the press statement reads.

RAAM is also the largest Indian film distributor in Indonesia, Thailand and Timor Leste, representing over 95 percent of the market share. RAAM also distributes its Indonesian films in Malaysia, Singapore, Vietnam, and Cambodia, while also expanding its market to Thailand and Myanmar

It is also adding five new cinemas in Java, Kalimantan, and Sulawesi starting next year.