Home News Go-Jek, East Ventures Invests in Indonesia’s Media Company

Go-Jek, East Ventures Invests in Indonesia’s Media Company

GO-JEK inaugurates operational expansion in the city of Merauke in Papua on August 18, 2018- Photo by GO-JEK

JAKARTA (TheInsiderStories) – Two Indonesian private equity firms invested in local online media as part of its expansion into online content, it said. Go-Ventures, unit of Indonesian technology provider Go-Jek has invested in Kumparan and East Ventures invested in Katadata. 

Kumparan is a hybrid news and social media platform that enables users to create content. Meanwhile, Katadata ​is an economics and business online media, data and research firm.

Both, Go-Jek and East Ventures did not disclose the size of its funding. The company founded by Nadiem Makarim plans to eventually launch a subscription-based original content service.

Recently, Go-Jek is betting heavily on becoming an online multimedia content provider and set up its own in-house studio in 2018 to produce original films, in partnership with local film production houses.

Previously in August, East Ventures led series of funding to Katadata. It said, the fresh fund will be used for data product development utilizing machine learning technology.

The managing partner Willson Cuaca says, “By combining traditional journalistic principles with new tech driven distribution methods, we can arrive at a better future. East Ventures has high hopes for Katadata to become the role model for long-form news media in Indonesia”.

Based on Nielsen Consumer Media View survey conducted in 11 main cities in Indonesia, TV penetration is still leading with 96 percent, followed by Out Of Home (53 percent), Internet (44 percent), Radio (37 percent), Newspaper (7 percent), Tabloid and Magazine (3 percent).

The existence of internet as one of the media with high penetration level indicates that Indonesians are increasingly prefer to access various contents through digital media, said ­Hellen Katherina, Executive Director, Nielsen Media.

Compared with 2017, the frequency of watching video content via internet shown growth in all age groups. YouTube is still the most accessed online video platform. Consumers also watch video content via news portals Detik (29 percent) and CNN Indonesia (27 percent).

The increase of internet penetration and the many variations of digital media choices have impact on the increase of the online advertising types. Consumers are given numerous product choices that are now easier to see or event to buy, without having to see the real physical products.

Nielsen study found that more than 60 percent consumers in the age group of 21-49 years old are often do a follow-up search after seeing online video advertising, and more than 30 percent consumers often purchase online.

Consumers also disclosed that after seeing online video advertising they usually will visit offline stores, and the opportunity to purchase is quite high at the stores (up to 28 and in the age group of 30-39 years).

TIS Intelligence Team, Email: theinsiderstories@gmail.com

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