As of March 2021, foreign investment in a few other visual media services, such as film promotional facility and advertisement among others, have been fully liberalised. Previously, foreign investment in  such media services were fully closed to FDI. 
"APPENDIX III - REGULATION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER 49 OF 2021 CONCERNING AMENDMENT TO PRESIDENTIAL REGULATION NUMBER 10 OF 2021 CONCERNING THE INVESTMENT BUSINESS SECTOR
LIST OF BUSINESS FIELDS WITH CERTAIN REQUIREMENTS
- Publishing of newspaper, magazine, and bulletin (press) [see 2019 restrictions below]: open with condition (a. Domestic capital 100% for establishment; b. Foreign capital ownership: Maximum 49% (through the capital market) only for business expansion and development)[previously closed]. 
- Film promotional facility, advertisement, poster, stills, photo, slide, negative, banner, pamphlet, billboard, folder etc.[see 2019 restrictions below]:  Open (without condition)[no longer listed] [...]" (Presidential Regulation (PERPRES) No. 49 of 2021 Concerning Amendments to Presidential Regulation Number 10 of 2021 concerning Investment Business Fields [google translation])
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"APPENDIX III - REGULATION OF THE PRESIDENT OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITION TO INVESTMENT - 
LIST OF BUSINESS FIELDS THAT ARE OPEN UNDER SPECIFIC CONDITIONS [...]
K. Communication and Informatic Sector
- Publishing of newspaper, magazine, and bulletin (press): Domestic capital: 100% [...] 
- Field: Film promotional facility, advertisement, poster, stills, photo, slide, negative, banner, pamphlet, billboard, folder etc. a. Domestic capital: 100%; b. Foreign capital ownership by ASEAN countries’ investors: Max.51% "(PRESIDENTIAL REGULATION OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITIONS TO INVESTMENT)
Presidential Regulation (PERPRES) No. 49 of 2021 Concerning Amendments to Presidential Regulation Number 10 of 2021 concerning Investment Business Fields [google translation]
PRESIDENTIAL REGULATION OF THE REPUBLIC OF INDONESIA NUMBER 44 YEAR 2016 CONCERNING LISTS OF BUSINESS FIELDS THAT ARE CLOSED TO AND BUSINESS FIELDS THAT ARE OPEN WITH CONDITIONS TO INVESTMENT
[<a href="https://peraturan.bpk.go.id/Home/Details/168534/perpres-no-49-tahun-2021">PR49</a>],[<a href="https://peraturan.bpk.go.id/Home/Details/161806/perpres-no-10-tahun-2021">PR10</a>],[<a href="https://peraturan.bpk.go.id/Home/Details/40374/perpres-no-44-tahun-2016">PR44</a>]