African Mobile Video Network StarNews Mobile Secures $3 Million Funding
African mobile video network StarNews Mobile, headquartered in the Ivory Coast (Côte d'Ivoire), has successfully raised $3 million in funding, with notable investors including three French professional footballers.
Launched in July 2017, StarNews Mobile has become a prominent player in the industry, targeting the mass market with a network of over 50 mobile channels offering celebrity-based content at affordable daily subscription rates.
The startup's operations initially began in Ivory Coast through strategic partnerships with MTN and Moov operators.
Since then, it has expanded its reach to other African countries, including Cameroon, the Republic of Congo, and South Africa.
Subscribers can access their favorite celebrities' channels through their mobile operators for as low as $0.10 per day.
Upon subscription, users receive exclusive daily video links via SMS. The generated revenue from the subscription fee is distributed among the operator, content provider, and StarNews Mobile.
African Mobile Video Network Empowers African Creators
Leading the $3 million funding round is Janngo Capital, with additional investments from prominent French football players Aurelien Tchouameni, Jules Kounde, and Mike Maignan of Excellence Sport Nation, recognized for their roles in Real Madrid, Barcelona, and AC Milan, respectively.
This latest funding round brings StarNews Mobile's total funds raised to nearly $8 million.
Guy Kamgaing, CEO of StarNews Mobile, expressed enthusiasm about the funding, stating, "This funding will be pivotal in helping us empower more African creators, strengthening our dominant position in francophone Africa while quickly expanding into more strategic markets like Nigeria and Ghana."
According to Kamgaing, the support from Janngo and the endorsement from the French football stars demonstrate the value of the African audience and culture globally.
"Africa’s creative industry is poised to grow by 4x by 2050 and generate up to $20 billion GDP while creating 20 million jobs," added Fatoumata Bâ, founder and executive chair of Janngo Capital. "StarNews is paving the way for this growth while empowering local African talent through a unique combination of scalable technology, local content, and top-tier partnerships."
Fernand Tchouameni, spokesperson and investment advisor for Aurelien Tchouameni, expressed excitement and pride in backing StarNews, describing it as "the first media platform that supports African creators and tells the world the real African story." Tchouameni, of Cameroonian descent, sees StarNews as a bridge connecting with the African diaspora and eagerly anticipates personal involvement.
Tom Jackson / Disrupt Africa