Funding

Indian Music And Movie Streaming Firm, Hungama raises $100 Million

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What does Hungama do?

Hungama, is the largest publisher, developer and distributer of Bollywood and South Asian entertainment content globally. It is a leader in Mobile and digital entertainment, gaming and apps. It has partnerships with more than four hundred content creators and has licensed exclusive digital rights to millions of video and music titles globally.

It provides content to consumers in forty seven countries across mobile devices, DTH services, Apps, internet, and has over one hundred and fifty partners globally. It has managed over two thousand mobile and digital campaigns successfully for over three hundred and fifty brands globally.

 

How much Hungama was funded?

Hungama has raised $ 100 M in undisclosed round on March19th, 2015 from Intel Capital and Bessemer Venture Partners.

Previous funding

  • $40M in Venture funding on Jul 4, 2014 from Intel Capital and Bessemer Venture Partners.

 

What is next for Hungama?

The latest funding will be used to  mark its footprint on mobile, taking the advantage of wide usage of smart phones in India. It will also invest in developing its platforms, technology and increasing its content libraries. Funding could also be used to bring in other players in the market.

 

More about Hungama

Hungama was founded in 2005 with its headquarters based in Mumbai. In started as a communications and marketing agency which offered services like interactive gaming, community branding and lead promotion for brands. With the increase in use of mobile devices, it has moved to entertainment in 2009, and currently it is the most prominent player in entertainment industry in India.

Hungama’s main competitors in the music streaming space in India are Gaana and Saavn which is owned by Times India. Unlike the younger companies, Hungama offers more than music, such as Netflix like movies.

Over the last 12 years, Hungama has won close to 100 international awards across gaming, mobile entertainment and digital advertising.

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