With less than 48 hours until its Crowdcube campaign comes to an end, video game channel, GINX TV, has surpassed its initial £540,000 goal and is now nearing £575,000 thanks to 210 investors. The initiative was originally set to close at the beginning of December, but then the company decided to expand its funding efforts to the end of the year.
GINX TV, founded in 2009, was created as an international video gaming TV channel. The programming has all genres of video gaming including eSports, mobile gaming, apps, AAA consoles, and PC-games. The channel produces over 350 hours of HD content per year.
GINX revealed that its core audience is 16-34-year-old men. Since its launch, the channel has reached 25 million homes in 41 territories and has been translated into nine languages. It estimates that its channel typically reaches ~26 million individuals a month.
The company currently makes money through 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, previously 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.”
During a recent update, Bakker shared:
“Dear Ginx follower, today marks not only the penultimate day of the year, but also, perhaps more significantly, the final opportunity to come on board as an investor or to top up your existing investment. We are very excited to put into action our growth plans for 2016 and beyond. As you know we are still aiming to launch the channel on Sky in the UK and any further over-funding will bring that launch forward. Thank you for your interest in Ginx TV and allow me to use this final update to wish you a Happy New Year.”
Bakker also announced some more exciting news:
“For some post-Christmas cheer, I wanted to share with you that one of Ginx’s key clients, Telekom Romania, has agreed to renew theGinx channel carriage agreement, which secures continued distribution of our channel to Telekom Romania’s 1 million TV households for a further year. We are very excited about this vote of confidence in our channel by one of Europe’s preeminent telcoms companies.”
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