Vidio, one of Indonesia’s most popular OTT platforms, has received a US $150 million investment from Affinity Equity Partners, Asia’s largest private equity company. Vidio was once owned entirely by Emtek Group’s subsidiary Surya Citra Media (SCM). This capital round is the company’s first outside investment. The fundraising round pushed it closer to unicorn status – or “soonicorn” – with a pre-money valuation of US $750 million.
Vidio possesses a total asset of IDR 362 billion (US $25 million), according to Emtek’s most recent financial report (Q3 2021).
Affinity will join Vidio’s board of directors as a result of this investment, and the two companies will work together to accelerate growth and increase market leadership in Indonesia. The firm also wants to expand its original content offerings, add additional sports licensing to its content, and improve 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.
Vidio has 62 million customers up until September. Several research agencies have also ranked them as Indonesia’s top OTT platform. Vidio was named the number one app with unique visitors by Comscore in August. In addition, in Q2 2021, MPA ranked them as the OTT with the biggest number of daily active users.
Vidio provides live and on-demand streaming of original series, feature films from across the world, and live performances. Its sports coverage, which includes UEFA Champions League, La Liga, NBA, and Formula One, is one of its most compelling offerings.
“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.
