From The New Publishing Standard:
Running a catalogue of audio and ebook titles in Romanian and English, the Romania-based streaming platform Voxa has a market capitalisation of EUR 6 million ($6.5 million), up from just EUR 3.9 million ($4.3 million) in November.
The 54% leap in capitalisation reflects the way Voxa CEO Catalin Mester has aggressively marketed the company within the Romanian market.
Attracting the desired EUR 1 million ($1.08 million) comes on the promise of further expansion within Romania and beyond. Voxa intends to launch in neighbouring Moldova in this current quarter (Q2) and in 2023 expand to further countries.
The decision to expand into neighbouring Moldova is unsurprising given the shared history and language, but where the third country might be remains to be seen, although Germany, Italy, Spain, Czech Republic, Bulgaria, Estonia and Hungary are known to be on the list.
Bulgaria is already home to Storytel, which dominates the market, but Hungary, Czech Republic and Estonia could offer Mester a chance to show off the Voxa potential to its fullest.
Another contender must be Serbia, where again a Romanian-speaking element would welcome the existing catalogue and Mester could likely bring on board Serbian publishers for the Voxa platform. Likewise Ukraine, but given the current situation there we can rule that out for the foreseeable future.
Voxa’s successful launch in Romania just six months ago has some impressive numbers to back the narrative, in mind Romania is a country of just 20 million people (helped by the fact that 15 million of those online).
No, there’s not a tight fit between Romanian streaming media and what TPV usually discusses, but, hey, its Romania and not Russia.