KKR platform Emerald Media commits $50m to Indian streaming site

YuppTV will use the new capital to expand its user base and further build its content library, according to a statement. The company allows users to stream popular films and videos, both its own productions and acquired content; its model is similar to Netflix, but it focuses on Indian and South Asian entertainment. Limited free content is available, with the full library available for paid customers.

The company's target audience is the worldwide Indian diaspora. It was founded in Atlanta, Georgia, and claims more than five million monthly visitors across North America, the UK, Southeast Asia, Australia and the Caribbean. The company recently launched in India as well.

"We couldn't ask for a stronger partner than Emerald Media," said YuppTV CEO Uday Reddy. "YuppTV is a content distribution platform with a strong consumer connection, and Emerald Media has global media relationships. We hope to leverage their relationships and existing assets Endemol, OML, Fluence and Graphic India to create original programming and make this platform a next generation distribution and content powerhouse."

YuppTV joins Malaysia-based Iflix among Asian media companies seeking to challenge Netflix on their home turfs. Iflix raised $45 million earlier this year from a group of investors led by European broadcaster Sky and Indonesian media company Emtek Group. This followed a $30 million Series A round last year from VC Catcha Group and Philippine Long Distance Telephone Company.

KKR formed Emerald Media last year, committing $300 million and bringing in The Chernin Group as a minority co-investor. The platform seeks control and minority growth investments of $15-75 million in media and entertainment companies across the region.

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• Topics
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