Asumsi, an Indonesian multi-platform digital media company, is looking at launching a live streaming platform by mid 2022, according to an announcement.
This, after the startup raised $700,000 in funding from Southeast Asia-based venture capital firm East Ventures.
The new fund will also help Asumsi invest further to expand its operation and engineering team to create a more interactive platform, as per the announcement.
Asumsi currently covers current affairs, politics, and social issues and targets the Indonesian youth segment. The company said it reaches more than 10 million audiences per month through various social media channels.
The planned live streaming platform is easily customized to tailor the needs of the streamer, and audiences can access interactive features such as tipping, Q&A, and quiz maker. The platform is intended to be available for public use.
“We are very grateful and excited to have continuous support from East Ventures in our journey to create and publish stories to the Indonesian audience,” said Pangeran Siahaan, CEO of Asumsi.
The pandemic, he added, posed a different challenge to the media business and “we’ve become more resilient to adjust and adapt to industry dynamics”.
Moreover, Asumsi aims to add two coverage focuses, namely Sports and Lifestyle, complementing the current content on politics and social issues. The two topics are chosen to expand the audience base and increase commercial opportunities.
Indonesia is a sports-crazy nation while lifestyle and pop culture have been a regular theme in the new media landscape.
Commenting on the investment, East Ventures co-founder and managing partner Willson Cuaca said Asumsi keeps growing to provide quality stories to Indonesians.
“We believe that the innovations in journalism from Pangeran and Asumsi team will create greater space for diversity and democracy in Indonesia,” Cuaca added.
According to the GWI report in 2020, people are increasingly watching “TV” content via streaming apps on their mobile devices. It reflects the huge potential in the media market, which is expected to grow from $1,713 billion in 2020 to $2,670.7 billion in 2025 globally, Asumsi said.