Alchemiya is a Video-on-demand service for the fast-growing Muslim middle class. Listed on Amazon Prime Channel since 2016, Alchemiya is rolling out its service in partnership with a major Pakistan telco and signing an agreement with SE Asian telecom conglomerate with over 90 million customers.
In 2015 we raised a small amount to launch a browser based website with 50 titles. Three years later we have 5,000 subscribers and a channel on Amazon Prime in the UK and USA.
Our primary audience is the emerging Muslim middle class, whom we believe feel underserved between terrorism coverage in mainstream media and overtly religious Muslim media. We also find very little content providing an inspirational, contemporary perspective on the peaceful, productive, creative aspects of Islam.
We see an opportunity to change this due to the combination of (i) population growth and increasing social mobility in the global Muslim population; (ii) TV distribution moving online and the rise of mobile video; and (iii) reduced production costs due to technology advances.
We are now raising £1 million to develop apps and scale our content to meet the demands from our revenue sharing contract with broadband provider PTCL (1.3 million customers in Pakistan) and to convert our LOI with a major South East Asian mobile telco with 90 million customers into a revenue sharing contract.
We plan to scale to 500 titles, include content from the BBC archives, other content providers and more Alchemiya productions.
We also aim to set up the Alchemiya Foundation, contributing 5% of turnover to support young cultural content providers.
Disclosure: Director's and shareholder's loan exist.