Indonesia’s IDN Media raises funds from North Base, East Ventures, others

Visual of IDNTimes website. September 2016

Indonesian digital publisher IDN Media has concluded an investment from a consortium of global investment firms that is lead by North Base Media and joined by GDP Venture, East Ventures, and MNM Creative, a multimedia and entertainment company.

The investment, which is undisclosed, will help scale IDN Media and grow its leading portals IDNtimes.com and Popbela.com.

It will also fund the expansion of IDN Media’s mobile-first digital video programs, IDNtv. The firm will also use the proceeds to expand its team for branded content (IDN Creative) and in building an automated ads platform for brands (IDN Ads).

Winston Utomo, co-founder and CEO of IDN Media, said, “It’s a fascinating time for the media industry, where social, mobile, and digital converge to shift the way people consume content.”

With this round, IDN Media hopes to leverage on the investors’ experience in the media, technology, consumer goods, and movie production space.

Willson Cuaca, Co-Founder and Managing Partner at East Ventures, said, “They reach a massive, loyal audience and have proven to be among the most creative, popular and influential new media players.”

Indonesian growth compared to the world. PWC 2013 figures

Indonesian media market

Michael Y.  Chow, Managing Director at MNM Creative, said, “In such a short period, they (IDN Media) have established themselves as a market leader for Millennials.”

The investment comes at a time when spending on entertainment and media in Indonesia has grown rapidly in recent years, driven by the country’s expanding middle class and rising disposable incomes.

In an official statement, Sasa Vucinic, Managing Partner at North Base Media, said, “IDN Media has built an exceptional market-winning, data driven company that harmonizes latest technology and editorial skills to create and deliver unique content in innovative ways.”

A report by PWC forecasts that overall spending on entertainment and media in Indonesia is expected to rise during the 2013- 2018 at a compound annual growth rate (CAGR) of 10.1 per cent.

This growth rate is exceeded only by India (11.6% CAGR), China (10.9% CAGR), and Pakistan (10.6% CAGR), with Indonesian growth being on par with Vietnam’s and ahead of the predicted Asia Pacific average CAGR of 5.7 per cent, it noted.

It is notable that newspapers will continue to remain Indonesia’s largest entertainment and media segment, with overall revenues growing much faster than in most other countries, which are seeing declines.

This comes at a time when the print media business model is shifting in reaction to competitive pressures, with global newspaper circulation revenues larger than newspaper advertising revenues in 2015, and a growing business-to-consumer emphasis. For the 2010-2015 period, digital advertising has been increasingly dominated by Facebook and Google.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.