Screentime
Indonesia’s Vidio Is Aiming to Double Subscribers Ahead of IPO
- Youthful population of over 270 million a draw for streamers
- Low 5G penetration remains an obstacle to increasing customers
This article is for subscribers only.
Vidio, Indonesia’s answer to Netflix Inc., is aiming to double its paid subscribers to 8 million in the next two to three years ahead of plans to go public in a market where streaming still has much room to grow.
The company, owned by Indonesian media conglomerate PT Elang Mahkota Teknologi Tbk, is also planning to raise a new fund this year to bankroll the growth of its streaming service, Chief Executive Officer Sutanto Hartono said in an interview. Vidio will push for an initial public offering once market sentiment becomes more positive, he said.