“Poland is a red-red ocean.” Ukrainian MEGOGO about its first results and plans to raise $30M

Ukrainian media service MEGOGO has shared the results of its expansion into the Polish market. According to Forbes Ukraine, the service has managed to acquire more than 20,000 subscribers in the Polish and Ukrainian subscriptions since the start of the expansion in February 2023.

  • On February 7, 2023, MEGOGO decided on Poland as the next market expansion. The country became the fourteenth market where the Ukrainian company provided its services. Artur Patsula headed the Polish office.
  • In nearly half a year, the service managed to get over 20,000 new subscribers both in the Polish and Ukrainian subscriptions, which is mostly organic growth. Only recently MEGOGO launched a marketing campaign, trying to get more partners and improve the product offering.
  • Currently, the service offers four packages, with the prices ranging from PLN 9.99 (€2.25) for the Startova package and to PLN 39.99 (€9) for the Maximal subscription deal.

“Poland is a red-red ocean. A highly competitive market, and not even about the international players like Netflix, Disney+. There are strong local players such as Polsat, TVP, and others. But we see how we can compete on it. So far, too little time has passed to make assessments,”

Fedir Drozdovskyi, co-founder of MEGOGO, says.

Plans for further expansion

  • According to the head of the Ukrainian service Fedir Drozdovskyi, MEGOGO is considering the option to raise its first investment round. The company plans to raise approximately $20-$30 million in funding from American or European investors.
  • The future investment will be used to expand into new markets. The company needs about $2 million to enter one foreign market, so the funds received should be enough for 10 countries. MEGOGO plans to expand to 2-3 new markets this year, and about 5 in 2024.