STARZPLAY SECURES $25M DEBT FINANCING FROM RUYA
STARZPLAY WILL USE THE ADDITIONAL FUNDS TO FOCUS ON STRENGTHENING ITS GEOGRAPHIC AND CUSTOMER REACH, ACQUISITION AND PRODUCTION OF ORIGINAL CONTENT
StarzPlay has received its first independent regional debt financing of $25m (circa AED9m) from Abu Dhabi based Ruya Partners. The funds, secured on the basis of StarzPlay’s financial strength and performance, will be used towards further strengthening the SVOD platform’s geographic and customer reach, acquiring and producing original content, and maximising long-term value for its stakeholders. StarzPlay currently has a presence in 20 MENA countries and Pakistan.
The investment is StarzPlay’s first debt financing [from a regional investor] and adds to the $125m (AED459m) secured since its launch in 2015 from global industry investors Starz, a Lionsgate company, and State Street Global Advisors.
Currently, StarzPlay reaches over
1.8 million paying subscribers and is installed on more than six million devices. Accounting for a market share of more than 32%, the platform recorded exceptional growth in 2020, with independent research showing an astounding growth of 141% in the number of unique users during the year.
Ruya Partners is an independent alternative investment firm focused on private credit investments in developing markets. The firm is headquartered in the Abu Dhabi Global Market.