• Home
  • News
  • Analysis
  •  
    Regions
    • Australasia
    • Southeast Asia
    • Greater China
    • North Asia
    • South Asia
    • North America
    • Europe
    • Central Asia
    • MENA
  •  
    Funds
    • LPs
    • Buyout
    • Growth
    • Venture
    • Renminbi
    • Secondary
    • Credit/Special Situations
    • Infrastructure
    • Real Estate
  •  
    Investments
    • Buyout
    • Growth
    • Early stage
    • PIPE
    • Credit
  •  
    Exits
    • IPO
    • Open market
    • Trade sale
    • Buyback
  •  
    Sectors
    • Consumer
    • Financials
    • Healthcare
    • Industrials
    • Infrastructure
    • Media
    • Technology
    • Real Estate
  • Events
  • Chinese edition
  • Data & Research
  • Weekly Digest
  • Newsletters
  • Sign in
  • Events
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)870 240 8859

      Email: customerservices@incisivemedia.com

      • Sign in
     
      • Saved articles
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • LinkedIn
    • Newsletters
  • Free Trial
  • Subscribe
  • Weekly Digest
  • Chinese edition
  • Data & Research
    • Latest Data & Research
      2023-china-216x305
      Regional Reports

      The reports review the year's local private equity and venture capital activity and are filled with up-to-date data and intelligence on fundraising, investments, exits and M&A. The regional reports also feature information on key companies.

      Read more
      2016-pevc-cover
      Industry Review

      Asian Private Equity and Venture Capital Review provides an independent overview of the private equity, venture capital and M&A activities in the Asia region. It delivers insights on investments made, capital raised, sector specific figures and more.

      Read more
      AVCJ Database

      AVCJ Database is the ultimate link between Asian dealmakers and those who provide advisory, financial, legal and technological services to the private equity, venture capital and M&A industries. It is packed with facts and figures on more than 153,000 companies and almost 117,000 transactions.

      Read more
AVCJ
AVCJ
  • Home
  • News
  • Analysis
  • Regions
  • Funds
  • Investments
  • Exits
  • Sectors
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)870 240 8859

    Email: customerservices@incisivemedia.com

    • Sign in
 
    • Saved articles
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
AVCJ
  • Southeast Asia

Affinity invests $150m in Indonesia's Netflix rival

  • Tim Burroughs
  • 04 November 2021
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Save this article  
  • Send to  

Affinity Equity Partners has invested $150 million in Vidio, an Indonesia-based over-the-top (OTT) streaming service described as a local equivalent to Netflix, as part of a $200-250 million funding round.

The deal gives Vidio, which is controlled by domestic media conglomerate Emtek Group, a post-money valuation of $900 million. The private equity firm would own 15%, assuming the full $250 million is raised, but that is not certain, according to a source close to the situation. So far, a $50 million tranche has been set aside for investors that offer strategic upside in terms of content access.

This is Affinity’s second growth-stage investment in a Southeast Asian technology company in three months, following its S$200 million ($148 million) commitment to M-Daq, a Singapore-based platform that helps retailers process e-commerce transactions in different currencies. However, in that case, the private equity firm took joint control of the business alongside management.

Founded in 2014, Vidio has an average of 62 million monthly active users, of which two million are paid subscribers. Most users watch content streamed from the country’s free-to-air TV channels on their smart phones and tablets. Vidio receives a cut of the advertising revenue, the source explained.

Emtek owns three of Indonesia’s leading free-to-air channels: SCTV, which has more than 160 million viewers – Indonesia’s population is approximately 270 million – across 240 cities; Indosiar, which is also available nationwide; and O Channel, a Jakarta-focused lifestyle and entertainment offering.

The company also owns in-house production facilities that support content generation for these channels and cable TV stations, as well as movie production businesses.

Vidio, which launched a premium video-on-demand and livestreaming service in 2018, sees content as its competitive advantage. Sport is a key focus area as well as TV dramas and variety shows. Vidio shows the UEFA Champions League, top-flight football matches in Italy and Spain, Formula One, and the NBA. It is targeting the English Premier League rights when they come up for auction next year.

The new funding will be invested in content production and licensing, as well as the development of livestreaming and gaming functions.

“It has some Western movies, but Netflix has the best content. However, Netflix only really targets the 5% of the Indonesian population that is overseas educated and speaks good English. The rest don’t want Netflix, they want local content,” the source added.

Netflix is already investing in Southeast Asian content. It has also launched cut-price mobile-only services in the region – bringing it closer to Vidio’s $2 per month subscriptions – to gain market share. The US-based streaming service already trails Disney+ Hotstar and PCCW-owned Viu.

Vidio, like most of its competitors, is currently running at a loss. It is expected to continue doing so in the foreseeable future as spending on content rises.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Save this article  
  • Send to  
  • Topics
  • Southeast Asia
  • Media
  • Early-stage
  • Technology
  • Indonesia
  • TMT
  • Affinity Equity Partners

More on Southeast Asia

housing-house-home-mortgage
Singapore fintech start-up LXA gets $10m seed round
  • Southeast Asia
  • 10 Nov 2023
airport-travel
Asia’s LP landscape: North to south
  • LPs
  • 08 Nov 2023
singapore-harbor-cityscape-night
Reed Smith hires Sidley Austin's Asia fund formation leader
  • Southeast Asia
  • 02 Nov 2023
biotech-lab-healthcare-pharma-02
Polaris leads $27m round for Singapore's Engine Biosciences
  • Southeast Asia
  • 01 Nov 2023

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs
  • 10 November 2023
housing-house-home-mortgage
Singapore fintech start-up LXA gets $10m seed round

New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.

  • Southeast Asia
  • 10 November 2023
india-rupee-money-nbfc
India's InCred announces $60m round, claims unicorn status

Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”

  • South Asia
  • 10 November 2023
roller-mark-luke-finn
Insight leads $50m round for Australia's Roller

Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.

  • Australasia
  • 10 November 2023
Back to Top
  • About AVCJ
  • Advertise
  • Contacts
  • About ION Analytics
  • Terms of use
  • Privacy policy
  • Group disclaimer
  • RSS
  • Twitter
  • LinkedIn
  • Newsletters

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013