Video Announces First External Funding of 2,1 Trillion Rupiah from Affinity

Vidio, one of the largest local OTT platforms, announced a $150 million (Rp2,1 trillion) funding round from Affinity Equity Partners (Affinity), Asia's largest private equity firm. Previously, Vidio was wholly owned by Emtek Group under Surya Citra Media (SCM), this was their first external funding. Platform it has valuation pre-money $750 million, the funding has increased its valuation to near unicorn/soonicorn status.

According to Emtek's latest financial report (Q3 2021), Vidio has total assets of Rp362 billion.

With this investment, Affinity will join Vidio's board of directors and will partner to accelerate its growth and expand its market leadership in Indonesia. The company also plans to expand original serial content, enrich the program by adding sports content licenses, and invest in improving the user experience.

“This marks a new milestone for Vidio as the largest OTT platform in Indonesia. We strive to continue to focus on the user by offering an experience streaming the best and the most complete exclusive premium content for users. We are very proud to partner with Affinity, and with this partnership and supported by the best talent at our disposal, we will take the next big leap in delivering quality and value which is extraordinary to Vidio's customers," said Vidio CEO Sutanto Hartono.

Until September 2021, Video has had 62 million subscribers. Several research firms also rank them as the #1 OTT platform in Indonesia. In August 2021, Comscore ranked Vidio as the #1 ranked app with the largest unique users. In addition, MPA ranks them as the OTT with the highest daily active users in Southeast Asia in Q2 2021.

Vidio offers live programming and video on demand. This includes original series, local/international films, and live shows. One of the company's value propositions is in sports programming, such as UEFA Champions, La Liga, NBA, F1, and many more.

“We are very pleased to partner with Emtek Group and Vidio to continue to build the best OTT that represents the future of the media sector in Indonesia. Emtek's digital and media ecosystem, coupled with Vidio's position at the forefront, and a strong management team, were important factors in Vidio's successful journey in Indonesia's highly dynamic OTT industry. Affinity will leverage its extensive network across Asia to support Vidio's growth initiatives, particularly in the areas of content and gamification to enrich live streaming content," said Benny Lim, Managing Director and Head of Affinity South East Asia.

-Original article in English, translated by Kristin Siagian