Astro Malaysia Holdings Berhad and Kumpulan Media Karangkraf Sdn Bhd have entered into a Memorandum of Understanding to form a joint venture company for the creation and monetisation of content verticals in Malaysia and the Nusantara region (the Indonesian archipelago).
Dato’ Rohana Rozhan, Group CEO of Astro commented, “We aim to pursue co-creation of a comprehensive line up of content IPs across Malay and Islamic verticals. Serving this diverse audience across a range of windows from theatrical, to TV, to digital and commerce, requires a wider breadth of IPs in order to satisfy the unique needs of each consumer segment. Ownership of these IPs allows us to maximise monetisation potential from licensing, Adex, subscriptions and commerce, while at the same time anchor a long-term sustainable role for us in the media value chain.
Today, the content industry in in the Nusantara region command a total addressable market of RM48 billion, which makes local vernacular and ASEAN content IPs the new premium.
Astro and Karangkraf will bring together complementary strengths in creating a content IP pipeline as well as a culture of innovation and distribution to tap on the growing industry.
Dato’ Hussamuddin Hj. Yaacub, CEO of Karangkraf added, “The Karangkraf Group looks forward to a deeper cooperation with Astro, having worked on many campaigns previously, such as Projek Ngaji, Quran Hour and so on. With our combined reach, Astro is the right strategic partner to position our content IPs across multi platforms of TV, OTT and digital in Malaysia and beyond. The JV Co will enable our group to have an equity in a Malay content powerhouse with regional aspiration as well as diversify into new businesses and accelerate digital innovation.”
Astro is in 71% of Malaysian households, serving 21 million individuals on all screens, at home, live, on the go and on demand while Karangkraf has 15 million readers across its print, magazine publications and online media assets.
(Left to right): Syamil Fahim Mohd Fahim – Deputy CEO of Kumpulan Media Karangkraf, Dato’ Hussamuddin Hj Yaacub – CEO of Kumpulan Media Karangkraf, Dato Rohana Rozhan – Group CEO of Astro, Dato’ Khairul Anwar Salleh – VP of Malay Business, Astro