#fame, India's talent-led digital entertainment network, has raised $10 million (Rs 60 crore approximately) in second round financing from TO THE NEW Ventures (TTN Ventures). This round follows the $3 million investment TTN Ventures had made when the business began in beta mode in early 2014.
#fame shall use the funds to scale-up its original digital video business, grow its emerging talent network, invest in technology and expand regionally in Asia. Catering to mobile millenials through an integrated 'talent-first' strategy, #fame is building a pan-Asian digital video network that will straddle over 5,000 channels and 50,000 content creators over the next three years.
Since launch, the network has seen rapid growth and traction for its original digital video content. With monthly-produced content volumes exceeding over 150 videos, #fame is India's largest original content creator for web and mobile platforms. Over the next few months, #fame will ramp up its monthly content output to over 1,000 original videos and expand its emerging talent network to over 500 emerging content creators.
#fame's digital video network spans several digital and social platforms including YouTube, Facebook, WeChat, Daily Motion and leading content publishers. #fame strategically focuses on emerging and established talent to build digital video channels andcommunities around them. The digital entertainment network hasidentified six key markets in South-East Asia to build local digital video businesses. These include Indonesia, Thailand, Singapore, Malaysia and Philippines apart from India.
TTN Ventures has a strong strategic presence inthese markets where it has built businesses in the SMACK space (Social, Mobile,Analytics, Content & Knowledge). Puneet Johar, CEO, TO THE NEW Venturessaid, "We are extremely bullish about video on mobile disrupting andre-defining entertainment and the opportunity is ripe to build an impactfulconsumer internet business. #fame is showing the trajectory of a market leaderand we would like to back it to market leadership across India and South EastAsia." Saket Saurabh, CEO, #fame commented, "We are well-poised for the next exciting leap in our growth story as we scale-upour capabilities in original digital content, grow our talent network furtherand expand across markets."
