IDN Media has acquired music and festival organiser Boss Creator, while sovereign wealth fund INA has officially announced a partnership with Nasdaq-listed data centre operator GDS.
IDN Media acquires Boss Creator
IDN Media, an East Ventures-backed media company, has acquired music and festival organiser Boss Creator to expand its entertainment ecosystem, according to a statement, in a move that could increase the former’s revenue streams.
IDN Media has made a string of acquisitions in the past couple of years. It acquired Indonesian creator platform Saweria in August, production house Demi Istri Production in May 2022, and sports media GGWP.id in July 2019.
“This strategic move is an integral part of our commitment to continue innovating and creating the best entertainment experience for Millennials and Gen Z in Indonesia,” Winston Utomo, founder and CEO of IDN Media, said on his Instagram page.
Founded by Kiki Ucup, Riandika Winandatama, and Adi Praja, Boss Creator was the company behind the music festival Pestapora. In 2023, Pestapora managed to sell more than 120,000 tickets for the music festival involving 224 musicians.
INA, GDS announce data centre JV
Indonesia’s sovereign wealth fund INA has officially formed a joint venture with GDS, a data centre operator. The partnership follows an initial announcement last month to develop and expand data centres in the archipelago.
The first project of the JV is the ongoing development of a hyper-scale data centre campus located in Nongsa Digital Park (NDP), Batam, which has been officially designated as a Special Economic Zone (SEZ) by the Indonesian government.
GDS’s Singapore-Johor-Batam strategy is fully aligned with INA’s approach, as it will enable low-latency connectivity across GDS’s interconnected data centres in Indonesia, Singapore, and Malaysia.
The potential of data centres in Indonesia is huge given the annual growth in data traffic of 40-50%. Market researchers have projected Indonesia’s data centre market capacity to grow from 514 MW in 2023 to 1.41 GW by 2029.
However, the data infrastructure is still underpenetrated. Recognising the gap within the digital landscape, INA is actively streamlining foreign direct investments throughout Indonesia, with a targeted approach to bolster Batam’s competitive advantage as it captures spillover demand from Singapore.