First Media to invest USD650m to expand pay-TV, internet operations

4 Sep 2007

Indonesian multimedia company PT First Media, part by the Lippo Group, has announced a USD650 million investment over the next four years to expand its operations in the country. First Media owns local pay-TV operator Kabelvision and Mynet, a broadband internet provider. The company is looking to increase its subscriber base to a million users by end-2009, up from the 200,000 it has now. The Indonesian pay-TV and internet market is seen as a potentially lucrative one. Out of a population of 200 million, only 500,000 currently subscribe to pay-TV services; the penetration for broadband is even lower.

Indonesia, First Media