Pre-seed funding and an export grant investment have been secured by Ckrowd.

Ckrowd has recently received funding from EEFP and an angel investor group in order to boost revenue for Africa’s creative sector and provide new job possibilities for the continent’s youth.

London, UK, 24 November: Ckrowd, Africa’s most popular and premium content streaming platform, has received pre-seed funding of $60,000 and a $100,000 export grant investment from an international angel investor group, as well as support from NESP’s Export Expansion Facility Program.

The funds will be used to disrupt the African and Afro-diaspora tech and content creation sectors, enabling African content creators in Africa and the Diaspora to monetise and protect their work using structured IP and copyright infrastructure.

According to estimates from worldwide consultancies, the African creative economy has the potential to make 2.5 billion dollars. This is due to the continent’s young population and numerous untapped opportunities; however, the lack of immediate revenue from locally produced content, disparities in remuneration with some Western content creators, a lack of understanding of cultural differences across African countries, and a lack of intra-African content integration have hampered true exponential growth for Africa’s creative industries.

The export grant will enable many storytellers and content creators to earn from revenue opportunities on the platform, while also establishing an online portal where original, unique African material is neatly organized, accessible with ease, and enjoyed as on-demand short films and live shows.

Ckrowd’s receipt of the funding as part of the EEFP demonstrates the relevance of the tech entertainment business, as well as the importance of diversifying African digital economies by leveraging a variety of verticals, such as culture, edutainment, information, and e-sports.

Ckrowd’s groundbreaking use of video technology and monetisation features to safely offer a profit to content creators demonstrates the company’s commitment to promoting chances to help expand the creative industry’s exports and revenue earned by content creators.

Sensing an opportunity, Kayode and his team founded Ckrowd as a technology service to export African local content for global consumption, with the goal of using the technology to generate foreign exchange, revenue, and job opportunities for African youth.

“This is a great win for African people,” said Ckrowd CEO Kayode Adebayo.

The Ckrowd platform, similar to a large cloud arena, can broadcast live and on-demand video content and charge access fees on behalf of the content creators. This enables the platform to function as a hybrid of EdTech, Media-Tech, and Ad-Tech. As we expand our partnerships across the continent and in the African Diaspora, we continue to welcome investments.

Our mission is to tell our stories, highlight the beauty of African culture and lifestyle, and provide economic value to African creators who have always been and continue to be pioneers and trailblazers in showcasing the beauty of our culture and people. The platform pays creators 70% of total revenue from content, which we believe is the highest pay-out on digital content to African creators.”

Ckrowd intends to double down and expand with new innovative technologies and strategies to gain more customers, accelerate growth, and foster intra-African creative industries. In addition, the company intends to hire more people, particularly in product, R&D, and engineering.

 

ABOUT CKROWD

 

Ckrowd (pronounced crowd) is a global platform that distributes African content in the form of short videos and live streams to a global audience. It was created to address the issue of low revenue for African and Afro-Diaspora content creators by allowing them to profit from revenue opportunities on the platform, as well as to provide an online portal where original, exclusive varieties of African content are well organized, easily accessible, and can be consumed as on demand short videos and live series.

 

 

 

Source Koenzanews
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