GoPlay, Gojek’s on-demand video platform, today announced the close of its first independent funding round. The round was led by ZWC Partners and Golden Gate Ventures, along with Openspace Ventures, Ideosource Entertainment and Redbadge Pacific.
Since launching in September 2019, GoPlay has quickly expanded its presence as Indonesia’s only on-demand video platform for high-quality local content, reaching hundreds of thousands of mobile users through the Gojek ecosystem and beyond. GoPlay serves as a platform for Indonesian filmmakers to introduce and distribute their work to a broader market, while providing consumers with exclusive access to hundreds of locally produced movies and shows. Available as a tile on the Gojek app, a GoPlay subscription can be purchased separately, or as part of a bundle that includes other Gojek services such as GoFood or GoSend.
The investment demonstrates confidence in Indonesia’s on-demand entertainment industry, and reflects the potential of local content creators. With local shows and films attracting larger audiences in Indonesia1, the new funding will be used to enhance GoPlay’s technology which will enable more Indonesian filmmakers to showcase their talent and better meet consumer demand for high-quality local content.
Edy Sulistyo, CEO of GoPlay, said, “GoPlay was launched to meet the fast growing needs of Indonesia’s entertainment industry. Indonesia’s local pool of content creators need more avenues to showcase their talent, while our growing pool of mobile consumers want access to more local content at their fingertips. There is huge potential here that is not being addressed by commercial movie theatres, and we are working hard to close the gap between supply and demand.
“We are proud that investors see value in what GoPlay is trying to achieve. We have been working hard to establish and fine tune GoPlay’s technology and offering over the past year and the time is now right to bring in partners with deep industry expertise to spur our growth. By combining the resources and expertise of these partners with Gojek’s footprint in Indonesia, we are well-positioned to support and grow Indonesia’s creative industry, while continuing to reach more consumers with quality local content.”
Patrick Cheung, Founding and Managing Partner of ZWC Partners, added, “We are very glad that Gojek and Edy recognize the value ZWC Partners can add to the development of GoPlay, in terms of our know-how, experience, resources and networks in China. We are very optimistic about the potential of Indonesia’s fast-growing online entertainment sector and believe our years of experience in the media and technology sectors, combined with GoPlay’s localization capabilities and Gojek’s tech ecosystem, will help accelerate GoPlay’s exponential growth. We are happy to join hands with both Gojek and Edy’s team in the building of this great service. COVID-19 has accelerated the changes in the way businesses and consumers operate and technology like GoPlay will play an important role in reshaping Southeast Asia’s entertainment industry in the ‘New Normal’ post pandemic.”