BENGALURU: UK videogaming TV channel Ginx TV needs funds to add 3.5 million households to its UK distribution platform, to develop and market suite of apps including the PlayStation Network and Xbox Live, and to develop the Ginx website and its online community. The company is sourcing funds through crowdfunding, and at the time of writing of this report has already raised Ł182,260, or a little more the third of the Ł540,000 that it needs on Crowdcube, with a largest single investment of Ł150,000.
The company says that the videogaming phenomenon can be underrepresented on television – with comprehensive programming and reach, Ginx aims to fill that void. Ginx’s core audience is men in the age group of 16-34, which it says is a comparatively high value advertising demographic. Ginx programming encompasses genres of videogaming that include eSports, mobile gaming, Apps, AAA console and PC-games. Ginx TV produces over 350 hours of unique HD content per year.
On offer is a 7.69 percent equity stake comprising of A-shares with full voting rights to all investors, which puts the current valuation of Ginx at about Ł7 million. The company plans to exit after 3 years for a minimum value of Ł20 million. Ginx promoters feel that Ginx TV would be a logical ‘tuck-in’ acquisition for established media companies wishing to gain exposure to the videogaming community. Alternatively it could provide a valuable TV platform extension to online-only companies.
Ginx is an international videogaming TV channel, already received in 26 million householders, 40 territories and 9 languages. Ginx says that videogaming has become massively mainstream, referenced by data showing that global games market sales ($91.5 billion) are projected to overtake filmed entertainment ($89 billion) for the first time in 2015. Ginx participates in the games market, by nature of being a thematic channel entirely dedicated to the subject matter of videogames. Ginx participates on television by selling commercial television airtime as part of the TV advertising market place. Ginx also participates in the TV channel sales space where cable and satellite platforms pay channels to become part of their programming line-up.
Ginx TV has been founded by television veteran Michiel Baker who is the CEO. Baker has more than 20 years’ experience in launching and growing thematic TV channels. He was one of the launch team of MTV Networks Europe, now known as Viacom International Media Networks. He was chairman of Nickelodeon UK and Paramount Comedy Channel, both joint ventures with BskyB.
He has roped James Neal as creative director and Chris Smith as Finance Controller, Neal served as VP acquisitions, co-productions at Discovery Network and spent 12 years at Disney UK, rising to VP of programming and commissioning, with overall responsibility for content.