MDIF has invested in Indonesian media company Tempo Media Group, an existing client with multiple media products including a digital magazine, a video production center, a research and survey institute, and a training school.
Wahyu Dhyatmika, President and Director of PT IMD, said the funding will be used to “develop the Tempo Media Group’s digital businesses under the IMD umbrella, such as Tempo.co, digital edition of Tempo Magazine, Tempo TV, Tempo Data Science, and Tempo Institute”.
The investment will also support Tempo to build an archive management system through Artificial Intelligence, upgrade its existing studios, produce content, optimize newsletters and experiment with a single platform product where audiences can access all of Tempo’s different products in one place. All these steps would be aimed at ultimately increasing traffic and revenues and support the flow of news and information in the country by enabling more people to access Tempo’s high-quality journalism.
Read more about the investment in Tempo’s announcement.