After the acquisition process was completed back in last August, SyQic officially re-branded Maaduu yesterday (3/11) in Indonesia. This decision was taken to enable the platform having stronger grip on Indonesian market. Before Indonesia, SyQic had had its re-branding in Malaysia last month, along with the presentation of Maaduu’s very first online streaming.
So far, Korean content has contributed to 35% of Maaduu’s total visits. Even though the number is not that huge, SyQic still regards it as something fundamental that it considers to add much more updated Korean content to the website.
The fact that 60% of the company’s total revenue comes only from Indonesia becomes SyQic’s main reference to aim for a huge leap in Southeast Asia by 2015. Not only in Indonesia and Malaysia, but also in other countries in the region.
Among other similar platforms, Maaduu is considered to be one step ahead, as it has the broadcasting right of two of three biggest broadcasting companies in Korea. This enables the platform providing the most updated Korean content, such as K-Pop and K-Drama.
According to its press release, the acquirement of Maaduu by SyQic was triggered by Viki’s acquirement by Rakuten, which reached $200 million or around Rp 1,2 trillion back in September 2013. This forced SyQic to do the same to avoid losing the market. Thus, in August 2014, it decided to acquire Maaduu which works on the same field as Viki does. Similar acquirement was also made by SoftBank, as it decided to replenish DramaFever with $100 million (around Rp 600 billion) of funding.
“We are very eager to welcome the re-branding of Maaduu in Indonesia, which is only days after its re-branding and acquirement process in Malaysia were completed. Indonesia has 250 million citizens, that’s huge for us,” said SyQic’s CEO, Jamal Hassim.
