INTERVIEW-Audiences want more travel and children’s programmes - Alchemiya Founder
Alchemiya has been dubbed the “Muslim Netflix”, both being subscription video on demand platforms but with the former focused on content about Islam and Muslims. The founder of Alchemiya, Navid Akhtar, tells Salaam Gateway which types of content appeals to different Muslim and non-Muslim audiences, and reveals plans for a new Alchemiya-Waqf.
Salaam Gateway: What is Alchemiya and how did it get its name?
Navid Akhtar: Alchemiya is a ‘SVOD’ (subscription video on demand) platform, very similar to Netflix in that it offers high quality films and documentaries aimed at an educated global audience of ABC1 Muslims. The site is accessible globally online, and offers a 7-day free trial, which gives you access to over 50 titles. Subjects include art, culture, travel, history, biography, spirituality and very soon we will be adding children’s programmes and more lifestyle content such as food and fashion.
I am fascinated by the high number of Arabic words that have come into European languages and Alchemiya is Latin for Alchemy, which is the mythical science of transformation – from lead to gold. Our content has the ability to make you see and think in a transformative way.
Salaam Gateway: Alchemiya content is ‘handpicked’. What are your guidelines for content selection?
Navid Akhtar: Quality, quality and relevance. We are ex-BBC producers and aim to deliver a high standard in both the production and editorial standard of the site. Next to that we believe in showcasing a positive narrative and viewpoint of Islam, both past and present. There is a tsunami of negative and critical video content about Islam and Muslims. We are countering this negativity by highlighting everything good that Islam has given the world, and from all corners of the globe.
Salaam Gateway: Does Alchemiya have original commissioned content? What are your plans, if any, moving in this direction?
Navid Akhtar: We launched with two new productions of our own. The Muslim Travellers guide to Granada and I Heart Quran.
As seasoned TV producers we have the in-house skills to deliver new and exciting content, and do this by assessing feedback and data from both our social media feeds and wider feedback loops.
We have a lot of requests for more travel-focused programming and content aimed at children. In addition we are looking to develop content partnerships with commercial partners who can sponsor production, and would then be involved in product partnership deals. A recent study found that 40 percent of viewers understand the need for sponsorship of quality content, and have no problem with it.
Salaam Gateway: What has been Alchemiya’s biggest challenge and how have you overcome it?
Navid Akhtar: Our biggest challenge has been in attracting finance. Projects like Alchemiya traditionally need deep pockets and very few people would attempt this without big backing. Things have changed and we leveraged our experience to launch a ‘minimal viable product’ with very little investment. This has worked and it’s allowed us to confirm a lot of our assumptions and become more focused with the plan for growth. We now need to select the right investors, someone who both understands the potential of the project and shares our purpose in creating Alchemiya. It’s not just about money for us, Alchemiya’s values and mission play a big role in what we are doing.
Salaam Gateway: What has been your biggest achievement and how did that come about?
Navid Akhtar: Our biggest achievements to date was when we doubled the figure we wanted for seed capital, through a crowdfunding site. We initially set a figure of 60,000 British pounds to see what kind of response we would have. The service was not at this point live and it took us almost nine weeks to hit the target. Once the site went live, we had another 59,000 pounds invested in nine days.
It’s a great feeling to see that so many people believe in what we are doing and have supported us through investing in the project.
Another ‘big deal’ achievement has been in Alchemiya getting selected for the Alpha Track at the Web Summit in November this year. We will be meeting with 47 of the world’s biggest tech VCs, and are the only Muslim project shortlisted for this prestigious event.
Salaam Gateway: Many Muslims believe that Islamic values, principles and teachings are good for all humankind. Is Alchemiya, dubbed by some as the “Muslim Netflix”, attracting non-Muslim audiences? What type of content on Alchemiya has proven to appeal to all?
Navid Akhtar: We believe that Islamic teachings have a universal appeal, and a common sense approach, which makes them accessible to anyone. We very consciously select and produce content that can be viewed by a wide audience, Muslim and non-Muslims. When we first launched we attracted around 10 percent non-Muslim supporters and as the project has grown, this number has decreased. Recently we are seeing a lot of demand for the service from UK/ U.S. educational institutions and this will widen the exposure to non-Muslims.
Programmes about travel, food and even aspects of Islamic history rate very highly with non-Muslim audiences, many who love to travel within the Muslim world and want to be better informed about its culture, values and history.
Salaam Gateway: What’s next for Alchemiya?
Navid Akhtar: We continue to grow the subscriber numbers and customer engagement with Alchemiya, and are now opening a new seed round, that will allow us to ready the project for Series A funding towards the end of the year.
We have just established the Alchemiya – Waqf, as many people wish to donate charitable funds towards new productions and are working with scholars, on defining the relationship between the charitable and commercial arms of Alchemiya. Finally we are looking at how we can fund ‘free’ subscriptions to non-Muslim organsisations and are talking to both Christian and Jewish multifaith organisations that have shown an interest in Alchemiya.
ABOUT ALCHEMIYA
When was Alchemiya founded? | Late 2013; launched the website in March 2015 |
Where is it based? | UK |
Who owns the company? | Alchemiya's management team owns the company, with around 15 percent equity with seed and early investors. |
Who runs the company? | Navid Akhtar and three other directors. It has started to recruit a non-executive board and has secured a former BBC Trust member. |
How many people does the company employ? | Three, plus a number of interns and volunteers. |
How has Alchemiya been financed/funded to date? | First money came from 'advanced subscribers' and some seed money. Then the company raised money through 'Crowd Cube', and equity crowdfunding site. It is now looking for a second round of seed funding and will prepare for Series A, with institutional investors. |
Annual revenue? | It is about six months into the launch of the website and are seeing month-to-month growth. At this stage, says the company, it's difficult to predict annual revenue but it is confident it will be around 250,000 British pounds. |
How big is the catalogue? | Launched with 30 titles and now offers over 50 films and documentaries. It has located an additional 300 hours and is aiming to offer this early 2016. |
First video ever watched by a paid subscriber? |
The Furthest Mosque, a documentary about Jerusalem. |
Three most watched films? |
1. Al Ghazzali - The Alchemist of Happiness (Spiritual/Drama) 2. The Road to Mecca - The Life of Mohammed Assad (Biography) 3. The Muslim Travellers Guide to Granada (Travel) - An Alchemiya Production |
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