Assuming to Get Continued Funding from East Ventures, Immediately Launch “Live Streaming” Platform

Digital media startup Assumption has again received funding from East Ventures. This time the value reached $ 700 thousand or about 10 billion Rupiah. Previously, the startup founded by Prince Siahaan had booked funding pre seed last September 2020.

Fresh funds will be focused on expanding media operations and strengthening the team engineer to make the platform more interactive. Assuming also set a target to launch the platform live streaming in the middle of 2022. This platform is very easy to adapt to the needs of users streamer, and viewers can access interactive features such as tipping, Q&A, and quizzes.

"As a media company that has video as its primary product, we recognize that there are limits to how we interact with our audience, especially when it's time to... live stream. By platform live streaming, Assumptions can continue to encourage the involvement of various elements of society in the public sphere," said Assumption Founder & CEO Prince Siahaan.

In addition, Assumption will also add two new content categories, namely Sport and Lifestyle, to complement the content currently focused on politics and social issues. These two topics were chosen to broaden the audience reach and increase new commercial opportunities.

So far, Assumption produces a lot of content in the form of videos, articles, podcasts, newsletters, to mini content on their social media platforms. From the business side, they claim to have posted up to 10 times revenue (year-on-year) since the previous funding round, with over 10 million monthly viewers across platforms.

Media startups in the East Ventures portfolio

In the East Ventures portfolio hypothesis, vertical online media enough attention. So far, several local media startups have received an injection of funds from the venture capitalist. Besides Assumptions, there are also IDN Media, Katadata, and Content Collision.

“The assumption continues to grow to provide quality news to the people of Indonesia. We believe that the innovations in journalism from Prince and the Assumption team will create greater space for all forms of diversity and democracy in Indonesia,” said East Ventures Co-founder and Managing Partner.  Willson Cuaca.

The increasing consumption of digital media during the pandemic shows that the content presented is proven to be attractive to viewers, readers and advertisers. Based on the GWI report in 2020, viewers are now watching television content more often through applications streaming on their gadgets. This reflects the huge potential of the media market, which is projected to grow from $1.7 billion in 2020 to $2.6 billion in 2025, globally.

Menurut report e-Conomy SEA 2020, online media become one of the largest GMV contributors to digital business in Indonesia. By 2020 its value has reached $4,4 billion, will grow to $10 billion by 2025 at a CAGR of 18%. Scope online media here includes OTT services and digital media.