Gojek's Video-on-demand Closed First Funding Round

1 month ago . 1 min read
MP
Marella Putri
Writer at Forbes Indonesia
Gojek's Video-on-demand Closed First Funding Round
Edy Sulistyo, CEO of GoPlay. Photograph by Adik Subagio for Forbes Indonesia.

Gojek’s video-on-demand platform, GoPlay, today announced closing its first funding round led by China-based investment firm ZWC Partners and Golden Gate Ventures. It was also participated by Openspace Ventures, Ideosource Entertainment, and Redbadge Pacific. While the amount remains undisclosed, the money will be used to develop GoPlay’s technology to serve both filmmakers and audiences better in making and gaining high-quality local film and series.

GoPlay was launched in September 2019 and aimed to support the Indonesian film industry, for local filmmakers to publish and distribute their work to a broader audience. GoPlay has reached hundreds of thousands of mobile viewers, and its features can be accessed on the Gojek app.

“GoPlay was launched to fill the demand on Indonesia’s rapidly developing entertainment industry. Indonesian content creators today need more platforms to present their talents and works. Simultaneously, there are more mobile audiences in Indonesia demanding quick and easy access to more local content. We see a big potential that hasn’t been reached by the cinema industry, and we are working hard to fill that gap by using technology,” said Edy Sulistyo, CEO of GoPlay.

Home to 171 million mobile internet users (according to Hootsuite and WeAre Social 2020), Indonesia presents significant potential to more players on video-on-demand. US-based Netflix alone was predicted by Statista to gain $76.6 million in revenue from Indonesia by the end of 2020. Indonesia’s media giant MNC also invested in Malaysia-based iFlix, which operates in Indonesia by collaborating with Telkom. During this work-from-home period, iFlix’s number of audience has been growing as well, in line with the increasing number of Telkom Indihome’s subscribers. Meanwhile, Emtek’s streaming platform Vidio claims to have seen its subscribers rise by 30% to 62 million.

MP
Written By
Marella Putri
Writer at Forbes Indonesia
Topics
Technology