Online streaming service Mubi service has received investment from Indian media giant Times Bridge.
Times Bridge, which owns stakes in businesses including Uber and Vice, has taken a minority stake and will provide investment as well as knowledge to help the SVOD service expand in India. It’s also believed that Drive director Nicolas Winding Refn has invested in the service.
The investment comes after China media investment firm Huanxi Media invested $2M in the service, which offers a hand curated list of around 30 arthouse and classic movies per month, in November 2016.
Mubi Chief Executive Efe Cakarel said: “I am thrilled to be partnering with Rishi Jaitly and his team at Times Bridge. We are very ambitious with our prospects in India, and they have shown a highly sophisticated understanding of our business and our goals in the region. India is a unique opportunity for us to engage with a passionate community with deep cultural ties to film. Our platform and programming, combined with Times Bridge’s local knowledge and audience, will quickly position Mubi as a meaningful OTT service catering to India’s growing base of Internet users.”
Times Bridge Chief Executive Rishi Jaitly added: “At Times Bridge, our mission is to bring the world’s best ideas to India and share India’s best insights with the world. Mubi is an original idea with a decade’s worth of proven appeal amongst fans of independent cinema worldwide. Films are inextricably linked to India’s heritage and, in a country with rapidly-changing tastes, we are confident that the Mubi platform will delight a meaningful audience seeking high-quality, curated, global cinema.”