Ideosource Entertainment, Invests in GoPlay Platform in Support of Indonesia's Content Industry

NFCX a subsidiary of MCAS, through its subsidiary Ideosource Entertainment has invested in GoPlay‟s first independent funding round along with ZWC Partners, Golden Gate Ventures, Openspace Ventures, and Redbadge Pacific in the second quarter of 2020. GoPlay, Gojek‟s on-demand video platform, offers high-quality local contents which have attracted hundreds of thousands of mobile users both within and outside Gojek‟s ecosystem.

According to Andi Boediman, Chief Executive Officer (CEO) of Ideosource Entertainment (IDEO), “Indonesian content market has the potential to reach US$ 1 billion market value within the next 3 years, mainly derived from theatrical release and streaming”. Due to the recent COVID- 19 pandemic, people are encouraged to stay at home and practice physical distancing. As such, content creators face challenging situations as they have to postpone their content productions. This ongoing pandemic has reshaped the way people consume, especially products and services that are driven by discretionary demand, such as entertainment. Thus, one of the mediums which is on-demand video platforms such as GoPlay, has risen in popularity and acceptance given the convenience that it provides. This progress proves that the content industry has a strong growth headroom even amidst unfavourable conditions.