Dubai
The web-TV provider Starz Play has roped in additional funding, which involved a mix of existing investors as well as new ones coming on board. In the first category was SEQ Capital Partners, while first-timers included Delta Partners Capital, an emerging market investment platform for the telecoms, media and digital space.
The value of the new fundings was not given. The investment will be used to finance continued expansion of services and partnerships. It will also allow further content acquisition, to go alongside its popular series such as Showtime’s “Billions” and “Ray Donovan” together with the likes of “Vikings” and “Grey’s Anatomy”.
“This funding demonstrates the continued confidence our current investors have,” said Maaz Shaikh, CEO of Starz Play. “We’ve raised the bar for subscription video on demand services in this region and these new funds will enable us to further enhance our content and technology offering.”
Starz Play, which commenced operations 18 months ago, had more than 17 million site visitors in October for its portfolio of movies and TV series. The service — which has been achieving double-digit month-on-month revenue and subscriber growth since launch — can be accessed in 19 countries across the region.
“Strategic partnerships with leading studios, major telecom groups and device manufacturers have proven our long term business model,” said Shaikh. “We now enjoy a six-figure subscriber base of customers in Mena who enjoy the affordable, on-demand experience our service provides.
“We’ve also made subscribing to Starz Play easier and even better value than ever by introducing mobile phone bills as a payment option and creating attractive offers through telecom service providers.”
