In a recent funding round led by Janngo Capital, StarNews Mobile, a creator monetisation platform focused on African talent, has successfully raised $3 million. The platform, co-founded by Guy Kamgaing in 2017, has garnered substantial support from prominent investors like LoftyInc Capital and Expert Dojo, amassing a total of nearly $8 million in investments. Notable sports and entertainment figures, including Barcelona defender Jules Koundé, Real Madrid midfielder Aurélien Tchouameni, and AC Milan goalkeeper Mike Maignan, have also joined this funding round.
“I am very excited and proud to back StarNews, the first media platform that supports African creators and tells the world the real African story. Being of Cameroonian descent, I can also see StarNews becoming a bridge to connect with the African diaspora, and I personally look forward to being on it,” Fernand Tchouameni, spokesperson for Aurélien Tchouameni, expressed.
StarNews Mobile has made significant strides in providing monetisation opportunities for African creators. Through strategic partnerships with telecommunications giants such as MTN and Orange, the platform operates in countries like Cameroon, Ivory Coast, Ghana, Nigeria, Congo, and Benin. Presently, StarNews boasts 4 million active subscribers and collaborates with 120 content creators, offering financial support, customer acquisition assistance, and hyperlocal content.
Utilizing content from the 2021 African Cup of Nations and sponsoring a Fally Ipupa concert, StarNews Mobile experienced substantial growth, attracting 600,000 new users and gaining 500,000 subscribers. Fally Ipupa, a prominent creator on the platform, has nearly a million subscribers. Other notable artists and influencers include Nigerian dancer Kaffy and Cameroonian musician Lady Ponce.
Monetising content remains a challenge for African creators, but StarNews Mobile appears to have discovered a successful approach. In 2022, the platform paid out $1 million to creators, with an average monthly earning of $70,000. StarNews recently introduced the StarNews Mobile Creator Fund, which offers upfront payments to content creators, using an AI model to determine potential payouts.
While the majority of StarNews’ subscribers originate from Francophone Africa, the additional funding acquired will facilitate its expansion. The platform aims to be present in 11 countries by 2024, with a focus on strengthening its presence in key markets like Nigeria and Ghana. StarNews Mobile’s mission is set to reach even greater heights as it empowers African creators and shares their stories with the world.