Emerald Media, a Pan-Asian platform established by leading global investment firm KKR for investing in the media and entertainment sector, has acquired a significant minority stake in OTT video platform YuppTV for $50 million.
YuppTV says the investment will enable it to further its global footprint, expand its content library through original productions and acquisitions, and rapidly grow its paid subscriber base.
Headquartered in Atlanta, Georgia, YuppTV specializes in digital video content for South Asians, reaching more than 400 million households across the world. With more than 5 million monthly visitors accessing YuppTV across 27 integrated devices – with a peak monthly traffic of 20 million – YuppTV offers 250+ South Asian TV channels, 5000+ movies and 100+ TV shows, with a focus on the USA, UK, Middle East, Canada, Singapore, Malaysia, Australia, New Zealand and the Caribbean.
YuppTV has over 25,000 hours of entertainment content catalogued in its library, as well as nearly 5,000 hours of new on-demand content added to the YuppTV platform every day.
YuppTV says it has gained considerable popularity in India after having recently launched in the market. With an initial focus on South India, the company has gradually expanded to the rest of the country. It has also recently implemented advanced analytics-based real-time recommendations on live TV, to make content more discoverable.
“We couldn’t ask for a stronger partner than Emerald Media. YuppTV is a content distribution platform with a strong consumer connection, and Emerald Media has global media relationships,” said Uday Reddy, promoter and CEO of YuppTV. “We hope to leverage their relationships and existing assets Endemol, OML, Fluence and Graphic India to create original programming and make this platform a next generation distribution and content powerhouse.”
Rajesh Kamat, Managing Director of Emerald Media, said, “The world is moving from traditional consumption to multiscreen delivery mediums. YuppTV provides a unique combination of technology, strong content relationships and revenues of scale and will be an anchor to our vision of building a new age media company.”
In September 2015, YuppTV raised its Series A round of funding from Poarch Creek Indian Tribe of Alabama.