‘Indonesia’s Buzzfeed’ looks abroad after 7th profitable year

Rapid early growth and a familiar youth-centric strategy earned IDN the moniker “Buzzfeed of Indonesia.”

It’s still living up to that reputation by being quick to jump on trends. In March, the company debuted microdramas on its app as part of an effort to bring the short series format – with each episode running just one to two minutes – to a larger audience.

“Microdrama is the future of entertainment,” Winston Utomo, co-founder and CEO of IDN, said at the time.

IDN founders William (left) and Winston Utomo / Photo credit: IDN

The bite-sized entertainment format generated some US$7 billion in revenue in China in 2024.

On its microdrama platform, IDN offers not only original material but also Chinese content with subtitles.

Its microdrama push comes after its seventh straight year of profit in 2024, though profit dipped from 77.1 billion rupiah (US$4.9 million) to US$804,000 compared to 2023.

Still, revenue came in at US$51 million, up 60% compared to the year prior.

“Profits in 2024 narrowed, but not because our core business slowed down,” Utomo tells Tech in Asia. He notes that the company’s 60% revenue increase demonstrates “top-line momentum and strong demand” across its ecosystem.

An “investment return” in 2023 also drove higher-than-usual profits that year, making a year-on-year comparison “less reflective of our underlying performance,” Utomo explains.

The company did not provide details about the investment return, however.

Content is king

With over 70 million active users on its platform, IDN runs an ecosystem of brands including digital media firm Popbela, gaming outlet GGWP, and food-focused platform Yummy.

Its main business segments are digital media, livestreaming, and entertainment. It also supports the creator economy, which offers tools to help influencers.

In 2024, advertising remained IDN’s primary revenue driver, accounting for 65% to 75% of its revenue, Utomo tells Tech in Asia.

From IDN to SEA