On Tuesday, global gaming TV channel, GINX, has kicked off a campaign to raise £540,000 through equity crowdfunding platform, Crowdcube.
Sharing details about the website’s progress, the team at GINX wrote on the campaign’s page:
“Ginx TV Ltd was founded in 2009 and we create and run ‘GINX’, an international videogaming TV channel. Videogaming has become massively mainstream, referenced by data showing that global games market sales ($91.5bn) are projected to overtake filmed entertainment ($89bn) for the first time in 2015 (Sources Statista and Newzoo). GINX programming encompasses all genres of videogaming including eSports, mobile gaming, Apps, AAA console- and PC-games. Ginx TV produces over 350 hours of unique HD content per year.”
The company noted that its core audience is 16-34 men, a comparatively highly valued advertising demographic. Since its launch, the website has reached 25 million homes in 41 territories, translated into 9 languages:
“We estimate that GINX typically reaches ~6.25m individuals a month (Source Barb UK, Media15, Mediametrie France and Ginx TV internal research). Ginx TV produces all its content in-house, which allows us to pursue a diverse distribution strategy.”
GINX makes money by doing the following:
- By selling the channel to cable and satellite platforms throughout the world.
- By selling 9 minutes of commercial airtime per hour to advertisers in France, the UK and Europe-wide.
- By selling individual shows to 3rd-party broadcasters.
Michiel Bakker, CEO of GINX, stated:
“Videogaming has become gargantuan in both its reach and appeal. By crowdfunding GINX, we’re offering investors the chance to benefit from the exponential growth of the gaming sector and help us to sharply accelerate our development here in the UK and internationally.
“Our audiences – all passionate about gaming and ranging from everyday app players to professional gamers– have been largely ignored or misrepresented by mainstream TV. We believe GINX represents a sound investment prospect for gamers and early adopters who already consume our content, as much as the opportunistic investor.”
Funds will be used for the following:
- £150K annual platform costs to add 3.5M homes to our UK distribution.
- £300K to develop and market suite of apps including PlayStation Network and XBOX Live.
- £90K on digital headcount to manage apps, develop the Ginx website and build our online community.
The Crowdcube campaign is set to close at the beginning of December.
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