Vidio, one of the leading Indonesian OTT platforms, today announced a US$150 million funding from Affinity Equity Partners, the leading private equity firm in Asia. Previously, Vidio was wholly owned by Emtek Group through its subsidiary Surya Citra Media (SCM). This funding round marks the company‘s first external funding round. It has a pre-money valuation of US$750 million as the funding round inched it closer to a unicorn status –or “soonicorn”.
According to Emtek’s latest financial report (Q3 2021), Vidio owns a total asset of IDR362 billion (US$25 million).
With this investment, Affinity is set to join Vidio’s board of directors and will team up with the company to accelerate its growth and expand market leadership in Indonesia. The company also aims to increase its original content offerings, enrich its content with more sports licensing, and invest in user experience.
“This marks a new milestone for Vidio as a leading OTT platform in Indonesia. We intend to keep on focussing on our users by offering the best streaming experience and premium exclusive content for them. We are proud to partner with Affinity; supported by our team of best talents, with this partnership we will take the great leap forward in providing quality and value to Vidio customers,” said Vidio CEO Sutanto Hartono.
Up until September, Vidio has secured 62 million subscribers. Several research firms have also placed them as the number one OTT platform in Indonesia. In August, Comscore placed Vidio as the number one app with the biggest number of unique visitors. In addition to that, MPA also placed them as an OTT with the highest number of daily active users in Q2 2021.
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Vidio offers both live and on-demand streaming of original series, local and international feature films, and live shows. One of its leading propositions is its sports content, from UEFA Champions, La Liga, NBA, and F1.
“We are excited to partner with Emtek Group and Vidio to keep building the best OTT platforms for the future of the media industry in Indonesia. Emtek’s digital and media ecosystem, with Vidio and its strong leadership team in the forefront, are key factors to the success of Vidio in the highly dynamic OTT industry in Indonesia. Affinity will tap on its wide network in Asia to support Vidio’s growth initiative, especially in the matter of content provision and the use of gamification to enrich its live streaming offering,” said Benny Lim, Managing Director and Head of Affinity Southeast Asia.
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The article was written by Randi Eka Yonida in Bahasa Indonesia for DailySocial. English translation and editing by e27.
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Image Credit: Vidio
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