Vidio aiming to double subscribers ahead of IPO

Vidio will push for an initial public offering once market sentiment becomes more positive, CEO Hartono said. — Bloomberg

JAKARTA: Vidio, Indonesia’s answer to Netflix Inc, is aiming to double its paid subscribers to eight million in the next two to three years ahead of plans to go public in a market where streaming still has much room to grow.

The company, owned by Indonesian media conglomerate PT Elang Mahkota Teknologi Tbk, is also planning to raise a new fund this year to bankroll the growth of its streaming service, chief executive officer Sutanto Hartono said in an interview.