|Sydney based media management and advisory company, Media Convergence Asia-Pacific, announced it is entering the Indonesian market in a joint-venture with two local private partners to launch digital, mobile and print platforms to serve the growing affluent market.
The new venture based in Jakarta, called PT Dyah will launch at least one new magazine every year with print, tablet, mobile and digital applications targeting the affluent consumers in the country.
Mr. Didier Guerin, President and CEO of Media Convergence Asia-Pacific, will be the Executive Chairman and oversee the new joint-venture
Indonesia is the new China, said Mr Guerin, besides its population of 238 million, it is one of the fastest growing consumer markets in Asia, with a middle class in excess of 50 million people. We will create or acquire specific high quality media products aimed to satisfy the large appetite of Indonesian women and men for luxury products and services.
Indonesias fast economic growth over the last five years has fuelled a sharp demand for luxury products which has been matched by a fast increase in media consumption across all media, including magazines and the internet. In terms of media spending, Indonesia has experienced the highest level of growth in the world since 2000. During that period, Indonesia was the only country along with China to record non-interrupted double digit growth in advertising expenditure. It is on track to pass India as the third largest media market in Asia (after Japan and China) within the next three years. Indonesias fast internet growth has also fuelled a spectacular rise in social media creating a market with the second-largest number of Facebook members in the world, and the third-largest number of Twitter users.