Mahaka Radio Integra

What Mahaka Radio Integra does

Mahaka Radio Integra (MARI), legally PT Mahaka Radio Integra Tbk, is an Indonesian audio content and broadcasting group headquartered in Jakarta and listed on the Indonesia Stock Exchange (IDX) under ticker MARI since February 2016 — the first radio group to achieve a public listing on IDX. The company operates seven terrestrial FM radio stations across Jakarta and Surabaya (JAK 101 FM, GEN 98.7 FM Jakarta, GEN 103.1 FM Surabaya, HOT 93.2 FM, KIS 95.1 FM, MUSTANG 88 FM, MOST Radio 105.8 FM) through eight wholly-owned subsidiaries, and runs the NOICE multiplatform digital audio application offering podcast streaming, audiobooks, audio series, and live audio content with more than 600 original and exclusive podcast titles.

The underlying technology combines licensed FM broadcast infrastructure with a mobile-first digital audio stack (NOICE on iOS and Android), developed through dedicated digital vehicle PT Mahaka Digital Inovasi (MDI) with technology partners Alpha JWC and Kinesys. Content IP includes the Podcast Tanah Jawa series and Adsfort-produced films such as 'Keluarga Suami adalah Hama' and 'Gak Nikah Gapapa Kan?'. Extended capabilities include location-based immersive audio (the 'Jelajah Swara' program with TMII), live event production (Jak After School Concert), and lifestyle merchandise collaborations (JAK 101 FM x KITC).

MARI's revenue model is hybrid: B2B radio and digital advertising sold across its seven stations and NOICE platform (the historical core), consumer unit-pricing on premium digital content (Rp 15,000 per podcast episode, Rp 18,000 per film), event ticketing and sponsorship, and merchandise sales. Its customer base spans Jakartan and Surabaya urban listeners, brand advertisers seeking Indonesian urban audience reach, Indonesian musicians and content creators (with collaborations such as 'Menjaga Dunia' and 'Generasi Suara'), and students attending branded concerts. Reported revenue grew to approximately 6.07 trillion IDR in 2024 from 4.41 trillion in 2022, though the company has remained unprofitable at the EBITDA and net income lines throughout the disclosed period.

Name

Mahaka Radio Integra

Legal name

PT Mahaka Radio Integra Tbk

Website

https://mari.co.id

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

251–500 employees

Short description

Mahaka Radio Integra (MARI) is an Indonesian publicly-listed audio group operating seven FM radio stations across Jakarta and Surabaya and the NOICE digital audio platform with 600+ original podcasts, serving urban listeners, brand advertisers, and content creators.

Ownership category

akta.pro rank

Product category

Radio Broadcasting

NAICS

Radio Broadcasting Stations (51611), Other Sound Recording Industries (512290)

SIC

Radio Broadcasting Stations (4832)

akta.pro primary industry

Internet Radio & Streaming Broadcast Stations (Simulcast/Online-only) (MPAIAEAE)

akta.pro secondary industries

Radio Content Production & Studios (On-air Production, Imaging, Jingles) (MPAIAEAL), Non-Interactive Digital Radio (Lean-Back Streaming) (MPAIACAB)

Keywords

• Radio broadcasting
• Digital audio platform
• Podcast streaming
• Audio entertainment
• Advertising sales

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Radio Advertising: Revenue generated from advertising spots aired across MARI's 7 radio stations (JAK 101 FM, Gen 98.7 FM Jakarta, Gen 103.1 FM Surabaya, Hot 93.2 FM, KIS 95.1 FM, Mustang 88 FM, Most Radio 105.8 FM). The company is listed on Indonesia Stock Exchange (IDX) with ticker MARI, attracting investors through radio advertising revenue.
2. Digital Content & NOICE Platform: Revenue from digital audio content including podcasts, audio series, and audiobooks available on the NOICE platform. Content includes paid premium content such as Podcast Tanah Jawa episodes (Rp 15,000) and films like 'Gak Nikah Gapapa Kan?' (Rp 18,000 pre-sale).
3. Live Events & Concerts: Revenue generated from organizing live events and concerts such as Jak After School Concert, 90's at 9 LIVE concerts, and brand collaborations. Includes ticket sales, sponsorship deals, and merchandise.
4. Brand Partnerships & Collaborations: Revenue from collaborative brand partnerships such as JAK 101 FM x KITC apparel collection launch, generating income through merchandise sales and brand exposure.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Mahaka Radio Integra (MARI) operates seven radio stations across Jakarta and Surabaya (JAK 101 FM, GEN 98.7 FM, GEN 103.1 FM Surabaya, HOT 93.2 FM, MUSTANG 88 FM, MOST Radio 105.8 FM, KIS 95.1 FM) and runs the NOICE digital audio platform offering podcasts, audiobooks, audio series, and live audio streaming with over 600 original contents. The company also produces film content through Adsfort and organizes live music events.

Product overview

Mahaka Radio Integra (MARI) is an Indonesian audio entertainment company operating as the first radio group listed on the Indonesia Stock Exchange (IDX) since February 2016. The company operates seven radio stations (JAK 101 FM, GEN 98.7 FM Jakarta, GEN 103.1 FM Surabaya, HOT 93.2 FM, MUSTANG 88 FM, MOST Radio 105.8 FM, and KIS 95.1 FM) and a digital audio platform NOICE. NOICE serves as a multiplatform digital hub offering streaming podcast, radio, music, audiobook, audio series, and live audio content with over 600 original and exclusive podcast contents. The company also produces film content through Adsfort and runs live events. MARI's portfolio includes audio storytelling initiatives like 'Jelajah Swara' for cultural tourism and various music programs supporting Indonesian music industry.

Differentiator

Problem solved

Functional benefit

Brands

• JAK 101 FM: Radio station in Jakarta
• GEN 98.7 FM
• GEN 103.1 FM
• HOT 93.2 FM
• KIS 95.1 FM
• MUSTANG 88 FM
• MOST Radio 105.8 FM
• NOICE
• Adsfort

Products and services

• JAK 101 FM Jakarta-based radio station operating at 101 FM frequency under MARI, featuring pop music format and youth-oriented programming including '90's at 9' feature. Maintained #1 position as radio station in Jakarta since 2011.
• GEN 98.7 FM Jakarta Jakarta radio station focusing on Indonesian music content. Rebranded in 2017 with 'Generasi Suara Musik Indonesia' tagline. Became #1 Radio Station in Jakarta in 2011 and has maintained that position.
• GEN 103.1 FM Surabaya Surabaya radio station under MARI, part of the GEN FM network focused on Indonesian music content in the East Java market.
• HOT 93.2 FM Radio station under MARI operating at 93.2 FM frequency, part of the group's multi-station portfolio.
• MUSTANG 88 FM Radio station under MARI operating at 88 FM frequency, part of the group's broadcast properties.
• MOST Radio 105.8 FM Radio station under MARI operating at 105.8 FM frequency, part of the group's multi-station portfolio.
• KIS 95.1 FM Radio station under MARI operating at 95.1 FM frequency, part of the seven-station group portfolio.
• NOICE Digital Audio Platform Digital audio platform by PT Mahaka Digital Inovasi offering streaming podcasts, radio, audiobooks, audio series, and live audio content. Home for local Indonesian content creators with the largest podcast network in Indonesia featuring over 600 original and exclusive contents. Available on Google Play Store and Apple App Store.
• Adsfort Film Production Film production company under MARI producing audio-visual content released exclusively on the NOICE platform as paid content. Notable works include 'Keluarga Suami adalah Hama' and 'Gak Nikah Gapapa Kan?'.
• Podcast Tanah Jawa Horror podcast series on NOICE platform expanding from the IP 'Kisah Tanah Jawa', created by Om Hao (Hari Kurniawan) and Amai. Features episodes exploring supernatural events behind historical tragedies and Indonesian history from a scientific perspective.

Quantifiable outcome

• JAK 101 FM has maintained #1 position as radio station in Jakarta since 2011
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Taman Mini Indonesia Indah (TMII)coreStrategic or Co-development Partner · 23 April 2025MARI's NOICE platform collaborates with TMII to launch 'Jelajah Swara', an immersive audio program combining technology and Indonesian culture in an interactive storytelling format. The program guides visitors through TMII landmarks with audio narratives featuring a fictional character named Nitra, designed to be inclusive for all visitors including those with disabilities.
• KITCminorGTM or Marketing Partner · 4 August 2022JAK 101 FM collaborated with KITC (brand from Bandung known for quirky products with 'anjing' expression) to launch apparel collection titled 'All Great Things For Your Day'. The collaboration translated the message into internet pop culture and Japanese culture (wibu/kultur Jepang), featuring t-shirts, tote bags, and headwear.
• Alpha JWCcoreStrategic or Co-development Partner · 2 December 2020Alpha JWC partnered with MARI for the development of NOICE platform content and technology. MARI formed PT Mahaka Digital Inovasi (MDI) to develop the multiplatform NOICE application serving as home for Indonesian local content including radio, music, and podcast channels.
• KinesyscoreTechnology or Integration · 2 December 2020Kinesys partnered with MARI for development of NOICE platform technology and content. The partnership aims to advance Indonesian local content creator ecosystem through the NOICE digital audio platform.
• AdsfortcoreStrategic or Co-development PartnerAdsfort is a film production company creating content exclusively for NOICE platform. After success with 'Keluarga Suami adalah Hama' (KSAH) achieving hundreds of millions of views on social media, Adsfort released new film 'Gak Nikah Gapapa Kan?' exclusively on NOICE.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Vidio (PT Vidio Dot Com): Indonesian video and audio streaming platform owned by EMTEK, offering podcasts and live audio alongside video content. Comparable to NOICE as a domestic Indonesian streaming platform competing for the same digital audio audience.
• Spotify: Global audio streaming leader expanding aggressively in Indonesia with localized content and podcast investments. Comparable to NOICE as a competing on-demand audio platform targeting Indonesian listeners and advertising budgets.

Direct peers

• i-Radio (PT Radio Citra Caraka Suara): Major Jakarta-based radio station (i-Radio 89.6 FM) competing directly with MARI's Jakarta stations for listeners and advertising. Comparable in audience demographics (urban professionals) and content format (music and entertainment).
• Prambors Radio: Long-established Jakarta-based radio station network owned by MRA Media Group, operating in the same urban youth and entertainment segment as JAK 101 FM and Gen FM. Direct head-to-head competitor for Jakarta radio advertising budgets and listener share.

Broad incumbents

• Kompas Gramedia Group: Major Indonesian media conglomerate operating newspapers, TV (Kompas TV), radio, and digital properties. Comparable as a large Indonesian multi-platform media group with overlapping advertising and digital content ambitions.
• Elang Mahkota Teknologi: Indonesian media and technology holding company behind SCTV, Indosiar, and Vidio streaming platform. Comparable as a major Indonesian broadcasting group pivoting into digital audio/video streaming alongside traditional broadcast operations.
• Surya Citra Media: Indonesian publicly listed media company (IDX: SCMA) operating television channels and digital platforms including Vidio. Comparable to MARI as another diversified Indonesian broadcasting and content group competing for the same advertising budgets and digital audience.
• MNC Media (PT Media Nusantara Citra): Largest Indonesian media conglomerate operating free-to-air TV (RCTI, MNCTV, GTV), radio, and digital platforms including RCTI+. Comparable to MARI as a major Indonesian broadcasting group with overlapping advertising clients and cross-platform content ambitions.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/mari_co_id
• YouTubeyoutube.com/channel/UC1Z9UldgrlzR9eHqLG8zW0g
• Facebookfacebook.com/mari.co.id
• LinkedInlinkedin.com/company/pt-mahaka-radio-integra-tbk
• Instagraminstagram.com/mari_co_id

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mahaka Radio Integra