We’ve got good news, and we wanted to be the first to share it with you.
We got funded—and we’re absolutely thrilled about it!
Roar Media recently raised a Pre-Series A round of funding from the newly established Digital Innovation Fund and BOV Capital, which is headed by Rajan Anandan and Prajeeth Balasubramaniam. This is phenomenal news for us, to be associated with, and validated by, organizations and individuals with such intimate knowledge of the business and tech spheres.
Jargon aside, what this means is that the monetary, advisory and network support will help us put many of our plans into action.
We’ve had incredible growth in 2017; in reach, in quality, and in our understanding of the digital media ecosystem. We’ve seen a huge gap in good, solid content in vernacular languages, and we tried to address it. The move paid off, and we are now the number one new media platform in Bangladesh. We are also a dominant digital media player in Sri Lanka, addressing topics from tech to travel to social issues, in Sinhalese, Tamil, and English. Our platform in India has also witnessed encouraging growth, and we seem to be set to be one of the top digital content players in India within 2018.
Here’s a look at some of our current stats:
– Over 35 million monthly video views—which is a 20% month-on-month growth rate
– Over 6 million website visitors—which is a 15% month-on-month growth rate
– We do this with a worldwide team of 65 highly motivated and creative people (if we say so ourselves).
What Makes Us Different?
While there are plenty of other digital media organisations out there, our investors backed us because we achieved these numbers without resorting to click-bait, which has pretty much become the definition of online content these days. Our focus is on being credible and authentic, while still providing engaging content to our users (you would agree, wouldn’t you?). Our guiding principle is remaining unbiased, and focusing on facts. It’s not that we ignore entertainment either, but we deliver good information in a story format, also known as infotainment.
Another reason for our numbers is the massive increase in internet penetration in South Asia. But while a lot more people have access to the World Wide Web now, very little of it is available in their local language. So there is a massive demand for good content in local languages. We are working pretty hard on filling this gap.
Where We Hope To Go
We want to dominate the industry with good infotainment-led content in regional languages. We are expecting the majority of our growth to come from localized language content, with a particular focus on video. Besides the groups we already serve, we plan to target many more language speakers in India who typically don’t have access to good quality content. Overall internet penetration in India sits at just 33 percent, which means there is immense potential for growth, especially in tier II cities and rural populations. With India already being the second largest online market in the world, and with a digital ad spend of approximately $2 billion for 2018, it’s a large (very large) untapped market for us.
We have big plans about where we want to go, but, to cut a long story short, we aim to be the premier digital content organisation in South Asia. For now, though, we take a moment to celebrate the milestones we have reached. We started off as a small team with big ideas, and now we are a multinational company with even bigger ideas.
We also thank you for where we are today. Without you reading, viewing, liking, and sharing our content, we wouldn’t have been able to continue doing the work we do. So, stick with us a while longer as we create even more cool stuff and make a whole lot of new friends on this journey.