Starz Play, the subscription video streaming service available in 19 countries across the Middle East and North Africa, has revealed about its ground-breaking investment. The two investors are SEQ Capital Partners and new investor Delta Partners Capital.
This multimillion dollar investment will allow the expansion of its services and partnerships alongside further content acquisition.
Commenting about the new development, Maaz Sheikh, the CEO of Starz Play, said: Strategic partnerships with leading studios, major telecom groups and device manufacturers have proven our long-term business model. We now enjoy a six-figure subscriber base of customers in MENA who enjoy the affordable, on-demand experience our service provides […] These new funds will enable us to further enhance our content and technology offering”.
On the other hand, Kaj-Erik Relander, partner at SEQ, commented: “The SVOD industry is evolving rapidly and companies are competing aggressively to meet their customers’ requirements and demands. […] We are proud to be an investor in such an ambitious and fast growing company and we intend to equip this business to maintain its leading industry position”.
Kai-Uwe Ricke, the chairman of Delta Partners Group, stated: “STARZ Play has demonstrated its unique capability to adapt the traditional SVOD business model to the specifics of emerging markets. We are very excited to become part of STARZ Play’s journey and we intend to leverage the expertise and network of Delta Partners Group to help the management in forging deeper and more successful win-win partnerships with telecom operators in MENA and beyond”.