Vidio Obtains Additional Investment of 663 Billion Rupiah from the 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). Other investors who participated, among others Grab LA Pte Ltd (Grab), PT Ekonomi Baru Investasi Teknologi (EBIT), a subsidiary of the Bali United football club.

For the record, DSSA is one of the shareholders in DANA (PT Elang Andalan Nusantara). Previously, DANA was under the auspices of the Emtek Group.

This announcement is in addition to the funding that Vidio received, after raising $150 million in fresh funding from Affinity Equity Partners in October 2021. Previously, Vidio was wholly owned by Emtek Group under Surya Citra Media (SCM).

The entry 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.

Vidio CEO Sutanto Hartono said, with this new fund the company will increase its commitment to users by continuing to add 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 quality soap operas 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 providers.

"Become most preferred partner from Vidio is a source of pride for us. This collaboration is expected to bring added value, and the Sinarmas Group is fully committed to building an integrated digital ecosystem. Therefore, we welcome strategic partnership with Video," said Daniel.

Meanwhile, Country Managing Director Grab Indonesia Neneng Goenadi conveyed, Grab and the Emtek Group share a shared vision that Indonesia's bright digital era must be enjoyed by all levels of society. OTT as a category has experienced rapid development in Indonesia, especially since the pandemic, and the trend of shifting the focus of the entertainment industry from linear channels to OTT and streaming will continue in the next few years.

"We are pleased to be able to strengthen the strategic partnership that has existed with the Emtek Group through investing 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 ecosystem Grab and Vidio. Together with the Emtek Group, Grab will present more digital solutions with a positive impact on society and the environment in Indonesia," said Neneng.

Video Achievements

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 (monthly active user/MAU) and the total duration of streaming minutes (minute stream). The company continues to add to its content catalog in the field of sports and is claimed to be the most complete in Indonesia.

The list starts from the 2022 FIFA World Cup Qatar, English Premier League, Indonesian Football League (Liga 1, Liga 2 and Liga 3), UEFA Champions League and UEL, NBA, European Football League (Serie A, La Liga, Ligue 1) , FA Cup, Formula One, Indonesian professional volleyball league (ProLiga), Indonesian Basketball League (IBL), Women's Tennis Association (WTA), and a wide selection of other premium sports content. Not only that, Vidio continues to actively release original content up to three titles every month.

Separately, in a joint interview DailySocial.id, Managing Director of Vidio Monika Rudijono said that until the close of Q4 2021 Vidio had experienced an increase in the number of MAU reaching 62 million subscribers. Among its user base, 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.