Research

SCMA: Sell When The Whistle Blows?

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Algo Research Team

Company | Nov 16, 2022 | Views: 38

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Key Summary:

  • SCMA is up +30% since its October low
  • Vidio has done well, reaching estimated >3mn subscribers
  • What is next for SCMA after World Cup?

The World Cup 2022 will start this Sunday on November 20, with the host Qatar vs. Ecuador as the first match. An exciting time indeed, especially as the most expensive World Cup in history costing a staggering USD200bn for Qatar to host including building its infrastructure. To watch the World Cup in Indonesia, we can stream on Vidio (owned by SCMA) and in anticipation of this event becoming popular, the share price of SCMA has also been popular these past few weeks, up +30% since its October low. Not bad at all, considering our IHSG was flat at 7,000 during the same period.



This event is also a much needed catalyst for SCMA as the share price has been underperforming since its peak last year, reaching as high as IDR500/share vs. IDR262 as per writing. It used to be a good exposure to the OTT space (with Vidio as a proxy), especially during WFH, being compared to the likes of Netflix. Sure, Netflix is a global players but locally in Indonesia, Vidio is actually performing and beating the global players including Disney+, Amazon or HBO with more than 3mn subscribers according to Media Partners Asia.

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