The investment will help YuppTV grow globally by expanding its content library through original productions and acquisitions
BestMediaInfo Bureau | Mumbai | October 13, 2016
Emerald Media has announced that it has acquired a significant minority stake in YuppTV for $50 million. It is a pan-Asian platform established by global investment firm KKR for investing in the media and entertainment sector. The growth capital will enable YuppTV to further its global footprint, expand its content library through original productions and acquisitions, and rapidly grow its paid subscriber base.
Headquartered in Atlanta, Georgia, YuppTV is an Internet Pay TV platform for South Asians. It reaches to more than 400 million households across the world and more than five million monthly visitors access YuppTV across 27 integrated devices – with a peak monthly traffic of 20 million.
YuppTV offers 250+ South Asian TV channels, 5,000+ movies and 100+ TV shows to worldwide audience with focus on the US, UK, Middle East, Canada, Singapore, Malaysia, Australia, New Zealand and the Caribbean. YuppTV continues to revolutionise the way TV and movies are viewed across the world with over 25,000 hours of entertainment content catalogued in its library, as well as nearly 5,000 hours of new on-demand content added to the YuppTV platform every day.
Uday Reddy, Promoter and CEO, YuppTV, said, “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.”
Rajesh Kamat, Managing Director, Emerald Media, said, “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 multi-screen 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.”
Paul Aiello, Managing Director, Emerald Media, further said, “Uday and his team have created an exceptional online video platform with a loyal subscriber base that realises 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.”
In September 2015, YuppTV had raised its Series A round of funding from Poarch Creek Indian Tribe of Alabama. YuppTV has had over 10 million mobile app downloads, in addition to 50 million pre-installs on Samsung TVs worldwide and 3,00,000+ downloads on LG Smart TV, making it one of the most downloaded Smart TV Apps. The YuppTV app is also the second most popular app in Android Play Store in India (Entertainment) and the only South Asian app available on PS3™ and PS4™. In addition, YuppTV has launched its exclusive on-demand movie streaming service, YuppFlix, which is backed by an extensive library of more than 5,000+ movies across various languages.
Emerald Media is a pan-Asian platform established by KKR to invest in the fast-growing media and entertainment industries across Asia for which KKR has committed up to $300mm from its KKR Asian Fund II. The platform primarily focuses on providing growth capital to media, entertainment and digital media companies. The platform looks to invest approximately $15-75 million per investment to acquire control or significant minority positions in growing public and private media companies.