Video and live streaming platform, GoPlay, eyes $20m funding
23 February 2023
Gojek launched an on-demand video platform, GoPlay, in September 2019. It offered a selection of Indonesian movies and TV shows and produces exclusive content by the name of GoPlay originals.
Presently, the video and live streaming platform is looking to raise a funding of US$20 million. The company is gearing up for an internal restructuring and may be planning to reduce stakes in its non-core assets. Last year the company stopped operations of its gaming unit, GoGames.
GoPlay was launched at a time when stiff competition from Netflix, Disney Hotstar plus surrounded it. The platform had its first round of funding in 2020; led by ZWC Partners and Golden Gate Ventures, along with Openspace Ventures, Ideosource Entertainment, and Redbadge Pacific. In 2021, it shifted focus to live streaming due to the growing number of content creators.
Spire consultant Albertus Edy Rianto commented that live streaming is considerably better than regular subscription-based OTT content. He explains that interactive entertainment minimises acquisition costs, expands the platforms for more user-generated content with more opportunities to earn fees.
Click here for the full article in DealStreetAsia. This article requires a user subscription.
For media enquiries, please contact:
Manager, Group Corporate Communications
Spire Research and Consulting
Phone: (65) 6838 5355