DUBAI: STARZ Play, which is available across the MENA region, has scored a new multi-million-dollar funding investment.<\/p>\n
The investment is led by existing investors, including SEQ Capital Partners and new investors such as Delta Partners Capital. The funding will be used to finance STARZ Play\u2019s continued expansion of its services and partnerships, and will allow further content acquisition.<\/p>\n
Maaz Sheikh, CEO of STARZ Play, commented: \u201cStrategic 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. We\u2019ve also made subscribing to STARZ Play easier and even better value than ever by introducing mobile phone bills as a payment option and creating attractive offers through telecom service providers.<\/p>\n
\u201cThis funding demonstrates the continued confidence our current investors have in STARZ Play. We\u2019ve raised the bar for subscription video on demand services in this region and these new funds will enable us to further enhance our content and technology offering,\u201d Maaz continued.<\/p>\n
Kaj-Erik Relander, partner at SEQ, said: \u201cThe SVOD industry is evolving rapidly and companies are competing aggressively to meet their customers\u2019 requirements and demands. STARZ Play has done an extremely impressive job of providing a convenient viewing experience for SVOD users in the MENA region. 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.\u201d<\/p>\n
Kai-Uwe Ricke, the chairman of Delta Partners Group, said: \u201cSTARZ 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\u2019s 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.\u201d<\/p>\n
John Penney, chairman of the board of STARZ Play Arabia and chief strategy officer of Starz, added: \u201cStarz has been very pleased with the progress shown by STARZ Play and its investment in the venture. Maaz and his team have established a great foundation for the business to grow throughout the region. We are delighted to see additional investment come in from smart partners and view this as an endorsement of the vision we had when establishing the business, and the positive outlook we see going forward for the MENA marketplace.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
DUBAI: STARZ Play, which is available across the MENA region, has scored a new multi-million-dollar funding investment.<\/p>\n","protected":false},"author":350,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[253],"class_list":["post-1650","post","type-post","status-publish","format-standard","","category-top-stories","tag-starz-play"],"yoast_head":"\n