Ideosource Entertainment, the subsidiary of IDX-listed NFC Indonesia, has made another investment in an entertainment platform in the country.
After investing in gojek’s on-demand video platform GoPlay earlier this month, the company made an undisclosed investment in Cinepoint, a rating and box office app for local and international movies.
Cinepoint’s system allows for ratings gathered through an exit polling post-movie-launch, verified real-time. It records spontaneous reactions, followed by showcasing the box office data of local and international movies distributed in Indonesia in a weekly chart.
They also provide historical data and infographics.
With the investment, Ideosource Entertainment will also work together with GoPlay and Cinepoint to support film industry workers affected by the pandemic by introducing a GoPlay voucher programme through Cinepoint app. Users will get cashback rewards for every GoPlay’s subscription purchase; the whole transaction can be done through Cinepoint’s WhatsApp.
Half of the revenue collected from the programme will be given to the film industry workers.
Ideosource Entertainment was established in 2017 with the focus in investments directed to the national movie and media sector. The company’s business line includes film and media production, digital marketing agency, and film and media analysis platform.
It was founded by Andi Boediman, who is already known in the Indonesian startup ecosystem as the founder of Ideosource Venture Capital.
The founding of the entertainment company is part of a recent trend in the ecosystem of VC firms branching out into non-tech sectors, from F&B to hospitality, to widen its portfolio.