Vidio Gets Additional Investment of IDR 663 Billion from Sinarmas Group, Grab, and Others
Vidio announced funding of $45 million (over 663 billion Rupiah) from several strategic investors. The largest investment was provided by the Sinarmas Group, namely PT Dian Swastika Sentosa (DSSA) through its subsidiary PT DSST Mas Gemilang (DSST).
There are other investors in this round which are PT Ekonomi Baru Investasi Teknologi (EBIT), Grab LA Pte Ltd (Grab), a subsidiary of the Bali United football club.
For the record, the DSSA is one of the shareholders in DANA. Previously, DANA was under the auspices of the Emtek Group.
This announcement is an additional funding received by Vidio, after obtaining fresh funding of $150 million from Affinity Equity Partners in October 2021. Previously, the company was wholly owned by Emtek Group under Surya Citra Media (SCM).
The inclusion of the Sinarmas Group marks the opening of opportunities for Vidio to collaborate strategically with its portfolios, such as Smartfren and MyRepublic. Together with its new investors, Vidio has the ambition to drive growth and strengthen its position as a leading local OTT.
Will Add Premium Content
Vidio CEO Sutanto Hartono said, with this new fund the company will increase its commitment to users by continuously adding the best premium content, as well as improving the features and quality of the platform.
“In addition to broadcasting the Premier League in August and the World Cup in November exclusively, we will also be more aggressive in releasing local original series and soap opera to entertain streaming audiences in Indonesia,” he said, Tuesday (14/6).
Investors also delivered their statement. DSSA Director Daniel Cahya said, this investment is the starting point for a sustainable collaboration between the Sinarmas Group and the Emtek Group.
It is also a positive step for the group, including Smartfren, MyRepublic, and other DSST digital investments, with Vidio as the content provider.
“Being Vidio’s most preferred partner is an honor for us. It’s expected to bring added value, and Sinarmas Group is fully committed to building an integrated digital ecosystem. That’s why, we welcome the strategic partnership with Vidio,” said Daniel.
Meanwhile, Country Managing Director Grab Indonesia Neneng Goenadi said, Grab and Emtek Group have a aligned vision that Indonesia’s bright digital era must be enjoyed by all levels of society.
OTT as a category has experienced rapid development in the country, especially since the pandemic, and the trend of shifting the focus of the entertainment industry from linear channels to streaming and OTT will continue in the next few years.
“We are pleased to be able to strengthen the strategic partnership that has been established with Emtek Group through investment in Vidio. As the largest OTT platform in Indonesia, Vidio has a very wide reach, and we see the potential for solid synergies for the Grab and Vidio ecosystems,” said Neneng.
Together with Emtek Group, Grab will present more digital solutions with a positive impact on society and the environment in Indonesia.
According to a report from Media Partner Asia, in the first quarter of 2022, Vidio became the top position OTT platform based on monthly active users (MAU) and total minute streamed duration.
They continue to add to its content catalog in the field of sports and claims to be the most complete in the country. Managing Director of Vidio Monika Rudijono said that until the close of Q4 2021 Vidio had experienced an increase in the number of MAUs reaching 62 million subscribers.
Among the user base, about 2.3 million of them are paid users. “Vidio closed Q1 2022 with 1.9x growth in paid subscribers compared to Q1 2021,” he added. Vidio continues to actively release original content up to three titles every month.