GRVTY Media – a digital media and content marketing group whose brand portfolio include Vulcan Post, Discover Singapore, Millennials of Singapore and The Playbook – has closed a S$1 million ($726,111) investment from Spout Entertainment Group.
The investment comes just three months after the inception of GRVTY Media in April 2017 and will finance its development into a millennial-centric digital media group targeting a Southeast Asian audience.
In addition to the investment, GRVTY Media and Spout Entertainment have jointly announced they will be partnering in areas such as cross- platform integration, media events and brand partnerships.
Spout Entertainment Group backs the e-gaming platform Spout 360, E-Sports Stadium Spout Arena (formerly known as Alienware Arena), as well as E- Learning Portal Cite Education.
GRVTY Media posts a monthly media reach of over 20 million individuals organically on social media through its four media brands: Vulcan Post, covering technology, digital lifestyle and entrepreneurial news; Discover SG and Discover KL which are lifestyle media offerings; The PLAYBOOK, a street fashion and entertainment bible for hype lovers; and Millennials of Singapore and Millennials of Kuala Lumpur, which focus on the millennial consumer segment.
According to a media release, the new Spout-GRVTY group will have a combined base of 30 million unique visitors a month in Southeast Asia, with plans to internationalise the local media brands.
GRVTY Media’s describes its competitive edge as”being able to produce content that resonates with its audience” and operates across formats such as video, live streaming, and social images. As part of its growth strategy, it will be seeking to build more strategic partnerships.
Discussing the firm’s revenue model, Jacky Yap, co-founder and Managing Director at GRVTY Media, told DEALSTREETASIA that monetisation was primarily through providing branded content. Asked if he would consider a paywall, Yap explained: “A paywall is an interesting option but I think it doesn’t work in Singapore yet. We are exploring other monetization models for now.”
On event formats, Yap explained that it was not a primary focus. However, he adds, “We do organise a content summit where we get new media publishers together to discuss the state of new media in Southeast Asia. This is very industry/trade centric, and we will be doing another one in end October. The purpose of this is to educate and introduce new media brands to the marketing industry.”
Spout’s founding chief executive, Daryl Teo, will join GRVTY Media’s board of directors. Daryl also sits on the Investment Board of venture builder REAPRA Group, which recently invested in Inc Southeast Asia and the Kokotel hotel chain.
In a statement, Yap said, “With extensive experience leading teams at Grab, TheMobileGamer and Openbucks, Daryl brings a wealth of product knowledge and startup experience as GRVTY Media embarks on an exciting chapter of new media transformation.”
According to Yap, this latest infusion of growth capital will be used to deepen its media offerings, develop new media assets and drive market expansion in the region. However, M&A activity as a growth strategy has not been ruled out, though Yap explained that the firm had no current plans in that area.
In an email exchange with DEALSTREETASIA, Yap shared: “The main challenges are always identifying what’s the next big thing and which platform. Audiences are evolving fast every day and we have to keep up with them. This means how and where they are consuming their content, what are the content that resonates with them.”