Starz Play se­cures fund­ing from SEQ and Delta part­ners

Kuwait Times - - TECHNOLOGY -

STARZ Play, the on-de­mand video stream­ing ser­vice avail­able in 19 coun­tries across the MENA re­gion, yes­ter­day an­nounced a new multi-mil­lion dol­lar fund­ing in­vest­ment. This in­vest­ment is led by ex­ist­ing in­vestors in­clud­ing SEQ Cap­i­tal Part­ners and new in­vestors in­clud­ing Delta Part­ners Cap­i­tal, an emerg­ing mar­ket cen­tric ad­vi­sory and in­vest­ment plat­form for the tele­coms, me­dia and dig­i­tal space.

STARZ Play, which com­menced op­er­a­tions just 18 months ago, wel­comed more than 17 mil­lion site vis­i­tors in Oc­to­ber 2016 with its port­fo­lio of movies and TV series in­clud­ing Power, Black Sails and Ash vs Evil Dead from orig­i­nal in­vestor, Starz. The ser­vice has grown ex­po­nen­tially, achiev­ing dou­ble digit month-on-month rev­enue and sub­scriber growth since launch. The ser­vice can be ac­cessed in 19 coun­tries across the MENA re­gion and the in­vest­ment will be used to fi­nance STARZ Play’s con­tin­ued ex­pan­sion of its ser­vices and part­ner­ships. The fund­ing will also al­low fur­ther con­tent ac­qui­si­tion, al­low­ing STARZ Play to li­cense ad­di­tional ti­tles to sit along­side its pop­u­lar series, which in­clude Show­time’s Bil­lions and Ray Dono­van to­gether with award win­ning ti­tles such as Vik­ings, Grey’s Anatomy, Top Gear, Quan­tico and The Walk­ing Dead.

Maaz Sheikh, CEO of STARZ Play, com­mented: “Strate­gic part­ner­ships with lead­ing stu­dios, ma­jor tele­com groups and de­vice man­u­fac­tur­ers have proven our long term busi­ness model. We now en­joy a six-fig­ure sub­scriber base of cus­tomers in MENA who en­joy the af­ford­able, on­de­mand 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.

“This fund­ing demon­strates the con­tin­ued con­fi­dence our cur­rent in­vestors have in 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,” Maaz con­tin­ued.

Kaj-Erik Re­lander, Part­ner at SEQ, said: “The SVOD in­dus­try is evolv­ing rapidly and com­pa­nies are com­pet­ing ag­gres­sively to meet their cus­tomers’ re­quire­ments and de­mands. STARZ Play has done an ex­tremely im­pres­sive job of pro­vid­ing a con­ve­nient view­ing ex­pe­ri­ence for SVOD users in the MENA re­gion. We are proud to be an in­vestor in such an ambitious and fast grow­ing com­pany and we in­tend to equip this busi­ness to main­tain its lead­ing in­dus­try po­si­tion.”

Kai-Uwe Ricke, Chair­man of Delta Part­ners Group, said: “STARZ Play has demon­strated its unique ca­pa­bil­ity to adapt the tra­di­tional SVOD busi­ness model to the specifics of emerg­ing mar­kets. We are very ex­cited to be­come part of STARZ Play’s jour­ney and we in­tend to lever­age the ex­per­tise and net­work of Delta Part­ners Group to help the man­age­ment in forg­ing deeper and more suc­cess­ful win-win part­ner­ships with tele­com op­er­a­tors in MENA and be­yond.”

John Pen­ney, Chair­man of the Board of STARZ Play Ara­bia and Chief Strat­egy Of­fi­cer of Starz, added: “Starz has been very pleased with the progress shown by STARZ Play and its in­vest­ment in the ven­ture. Maaz and his team have es­tab­lished a great foun­da­tion for the busi­ness to grow through­out the re­gion. We are de­lighted to see ad­di­tional in­vest­ment come in from smart part­ners and view this as an en­dorse­ment of the vi­sion we had when es­tab­lish­ing the busi­ness, and the pos­i­tive out­look we see go­ing for­ward for the MENA mar­ket­place.”

STARZ Play fea­tures more than 5,000 hours of the best Hol­ly­wood movies, TV shows, doc­u­men­taries, chil­dren’s en­ter­tain­ment and same-day-as-the-US series, all streamed in HD or 4K. The ser­vice also con­tains 1,200 hours of ded­i­cated Ara­bic con­tent while French speak­ers can en­joy more than 2,200 hours of movies and series dubbed into French. New con­tent is added all the time and the ser­vice is cur­rently stream­ing ex­clu­sive day-and-date series.

Maaz Sheikh, CEO of STARZ Play

Newspapers in English

Newspapers from Kuwait

© PressReader. All rights reserved.