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Tag: Emerald Media

  • Yupp TV gets $50 mn funding from KKR-backed Emerald Media

    Yupp TV gets $50 mn funding from KKR-backed Emerald Media

    MUMBAI: It’s a sign of the confidence international private equity firms have in India’s one-billion plus mobile user base, the over the top (OTT) ecosystem and the appeal south Asian content can have worldwide.

    The Chernin-KKR-Ailleo-Kamath backed Emerald Media yesterday announced that it was investing $50 million (Rs 334 crore) in the Uday Reddy-run internet pay TV platform Yupp TV and gaining a significant minority stake in the firm. The purpose of the fund-raising: expand the OTT service’s footprint globally, its content library through originals and acquisitions, and in the process ramp up its subscriber base.

    Headquartered in Atlanta, Yupp TV offers a mix of live TV (more than 250 channels in 14 languages), TV shows, movies and videos with a focus on the US, UK, Middle East, Canada, Singapore, Malaysia, Australia, New Zealand and the Caribbean.  It has been making inroads in India too with an initial focus on the south Indian market, but has since been spreading nationally. The platform has more than 25,000 hours of entertainment content catalogued in its library, with nearly 5,000 hours of new on-demand content being added to it daily. It recently launched YuppFlix, its on-demand movie streaming service on the back of its 5,000 strong movie catalogue.

    More than five million monthly visitors – peaking at 20 million – log on to the Yupp  TV service using 27 integrated devices. The YuppTV app has had 10 million mobile downloads, 50 million Samsug TV  and 300,000 LG Smart TV pre-installs globally.  The app is also available for PS3 and PS4s.

    Said YuppTV promoter & CEO Uday Reddy:  “We couldn’t ask for a stronger partner than Emerald Media. 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.”

    Added Emerald Media managing director Rajesh Kamat:  “Emerald Media believes in driving change and value-creation by providing a distinctive combination of capital, domain knowledge and management bandwidth. The world is moving from traditional consumption to multiscreen delivery mediums. YuppTV provides a unique combination of technology, strong content relationships and revenues of scale and will be an anchor to our vision of building a new age media company.”

    Said Emerald Media managing director Paul Aiello: “Uday and his team have created an exceptional online video platform with a loyal subscriber base that realizes the huge potential of the global Indian diaspora. Our investment and relationship will enable YuppTV to further their strong leadership position in the rapidly growing OTT space.”

    YuppTV will need all the financial muscle it can get. The Indian OTT and VOD space is just about beginning to warm up with the likes of Amazon keeping aside a war chest of around $300 million for its Prime Video service. Additionally, Netflix, Hotstar, SonyLiv, Ditto TV, Voot, Hooq, Viu, Spuul, and the soon to be launched Alt Balaji are all nurturing ambitious investments and plans to capture a piece of the Indian mobile consumer’s wallet.

    Also read:

    Hooq plans to invest $2 million on original Indian content

    Challenges faced by the OTT players in India; the way ahead

  • KKR partners with CA Media; to invest $300 m in Asian M&E sector

    KKR partners with CA Media; to invest $300 m in Asian M&E sector

    MUMBAI:  Media and entertainment entrepreneurs in Asia can look forward to another potential investor in their initiatives, courtesy Emerald Media. Emerald is a new media investment vehicle which has been set up by global investment film KKR and the Chernin Group – promoted by former News Corp top boss Peter Chernin.  KKR has committed up to $300 million to the Emerald Media platform from its KKR Asian Fund II and The Chernin Group will join as a minority co-investor.

    KKR has also acquired a significant, minority stake in CA Media, the existing Asian media portfolio of The Chernin Group.

    Industry veterans Rajesh Kamat and Paul Aiello, who have so far been managing CA Media, will jointly head Emerald Media and will be joined by an experienced team of operating executives. Emerald Media will have offices in Mumbai, Hong Kong, and Singapore. CA Media, which has assets in India (Endemol Shine India, Graphic India, Fluence, and Only Much Louder) and in Indonesia in its portfolio, will continue to be headed by Kamat and Aiello.

     

    The duo together has more than 30 years of experience in the media and entertainment industries in Asia. They bring a unique blend of operational and investment acumen to their business approach. Mr. Aiello is the current Group CEO of CA Media, the former CEO of News Corp.’s Star TV Asia, and former Head of TMT investment banking at Morgan Stanley Asia. . Kamat is currently the Group COO of CA Media and was formerly COO of Viacom18 Group and CEO of Colors.

    Emerald Media will focus primarily on providing growth capital ranging from US$15 million-US$75 million for both control and significant minority positions to media, entertainment, and digital media businesses in Asia.

     

    Joseph Y. Bae, Member of KKR & Managing Partner of KKR Asia, said, “The growing middle class in the region is using its discretionary income on Internet connectivity, but the industry itself is fragmented. Investing behind proven leaders in industries with high growth potential and partnering with them to grow their business is a cornerstone of KKR’s Asia strategy. We look forward to working with experienced media leaders Rajesh and Paul in this dynamic sector.”

    Sanjay Nayar, Member of KKR & CEO of KKR India, added, “The media, entertainment and digital media segment across Asia especially in India enjoys attractive macro fundamentals, mirroring the trajectory of the region’s consumer sector. This is a fragmented industry, and we are excited to work with industry veterans to identify the next generation of media and entertainment companies we can partner with and support.”

     

    Peter Chernin, Chairman and CEO of The Chernin Group, noted: “This partnership provides TCG and its fellow investors in CA Media with a unique opportunity to continue to work with a best in class management team and leading global investors at KKR in Asia.”

    “The media and entertainment sector is on the cusp of a strong growth phase—driven by media convergence, an attractive investment environment, and rising discretionary spends. With the building blocks for growth in place, there is a significant opportunity to create a diversified portfolio of assets in this space, building on our accomplishments and ongoing work with CA Media and The Chernin Group,” said Rajesh Kamat.

     

    Paul Aiello further added, “With the Asia media industry experiencing rapid and transformational changes driven by digitization and growing internet and mobile penetration, Emerald Media will invest across mediums, demographics, and revenue models to continue driving such transformation.”