Ivory Coast-based StarNews Mobile, the leading mobile video network in Africa, has secured $3 million in funding from investors that include three French professional soccer players.
Started in July 2017, StarNews Mobile targets the mass market with a network of more than 50 mobile channels offering celebrity-driven content with low daily subscriptions. The startup was developed in Ivory Coast in partnership with operators MTN and Moov and has since launched in Cameroon, the Republic of Congo and South Africa.
Users can subscribe to their favorite celebrities’ channel through their provider for as little as US$0.10 per day. Once registered, they receive a video link via SMS to watch exclusive videos daily. The revenue generated by the subscription is then shared between the provider, the content provider and StarNews Mobile.
The US$3 million funding round is led by Janngo Capital and also includes Excellence Sport Nation’s French footballers Aurelien Tchouameni, Jules Kounde and Mike Maignan, better known as players for Real Madrid, Barcelona and AC Milan, respectively. The round brings the total funds raised by StarNews to date to nearly US$8 million.
“This funding will be vital in helping us empower more African creators, strengthening our dominant position in French-speaking Africa, while rapidly expanding into more strategic markets such as Nigeria and Ghana. We are proud to support Janngo, whose team has a proven track record of building successful African startups, and to support these young prominent sports personalities of African descent who understand the value of African audiences and African culture globally,” said Guy Kamgaing , CEO of StarNews Mobile.
“Africa’s creative industries are poised to grow 4x by 2050 and generate up to $20 billion in GDP, while creating 20 million jobs. StarNews is paving the way for this growth while empowering local African talent through a unique combination of scalable technology, local content and leading partnerships. We are proud to lead this round of funding to help unlock further growth, impact and market expansion,” said Fatoumata Bâ, founder and executive chairman of Janngo Capital.
“I am very excited and proud to support StarNews, the first media platform that supports African creators and tells the world the real African story,” said Fernand Tchouameni, spokesperson and investment advisor to Aurelien Tchouameni. “Being of Cameroonian descent, I can also see StarNews becoming a bridge to the African diaspora and I personally look forward to being on it.”