WebTVAsia Buys In Vietnam, Plans Own Platform
Asian MCN WebTVAsia is boosting its presence across the region, buying a stake in Vietnamese network Metub.
The digital entertainment company, backed by Malaysia studio Prodigee Media, now has offices in nine markets since launch in 2013.
It is also working on its own video platform, called Luve. This will debut in Thailand early next year, ahead of a broader rollout.
In addition, WebTV Asia executives announced a year-long deal to create promotional content in five markets for Viveland VR, a Taipei-based theme park run by mobile phone maker HTC.
Meanwhile, parent company Prodigee has teamed up with Chinese film distributor UEP to co-invest in Raiders of Nanyang, an upcoming movie based on Zheng He, the celebrated Ming dynasty explorer.
Press release in full below:
WebTVAsia Strengthens Its Leading Position In Online Video Investments And Partnerships Across Asia
Announces METUB Vietnam Acquisition, Film Co-Investment with UEP China and Marketing Partnership with HTC Taiwan; Launching Asian Millennial-Focused Online Video Platform
SEOUL, South Korea -- 25 November 2016 – WebTVAsia, one of Asia’s fastest growing digital media entertainment companies announced that as part of the company’s regional expansion, they have acquired a major stake in METUB Network, Vietnam; invested in producing a feature film with United Entertainment Partners (UEP) China; partnered with HTC Taiwan to deliver and drive digital marketing campaigns working with Asia’s top digital talents. WebTVAsia is also launching its online video platform -- LUVE, to drive the delivery of content that targets the Asian millennial audience.
“In recent months, we grew our team in Asia to expand regionally to 9 markets now. The acquisition, investment and partnership deals that we are announcing today not only provide us with a larger footprint in this region, it also allows us to further penetrate into the individual markets that we’ve been active in over the last three years,“ said Fred Chong, group CEO, WebTVAsia.
Details of the partnership announcements are as follows:
WebTVAsia acquired a major stake in Vietnam’s METUB Network, a video and talent network that boasts 300 content channels that drive 350 million views and 2 billion minutes watch time monthly. This acquisition will provide the company direct access to one of the fastest growing YouTube markets in the world. METUB will also tap into WebTVAsia’s regional network to accelerate its growth in Asia.
In China, UEP a full-service film distribution company and Prodigee Media (an associate company of WebTVAsia) are co-investing RMB 50 million (USD 7.3 million) to produce and distribute "Raiders of Nanyang", an action adventure feature film based on the legend of Admiral Zheng He. Production is scheduled to begin mid-2017 with filming in China and Malaysia. UEP covers 90 percent of major cinemas in China and is one of the top distribution networks in the country. In 2015, UEP established its first international office in Los Angeles, U.S.A. to introduce quality Chinese films to North America.
On the partnership front, WebTVAsia and HTC have signed a year-long marketing partnership where WebTVAsia will drive the creation of content for HTC’s digital marketing campaigns to promote the company’s VIVELAND VR theme park in Thailand, Taiwan, Indonesia, Vietnam and Hong Kong. Under the agreement, WebTVAsia will rollout one digital campaign a month for HTC featuring top digital talents of each country.
Lastly, WebTVAsia also announced that it will be launching LUVE -- a millennial-focused online video platform -- to deliver content that the company and its 1,000 partners across 10 countries in APAC currently produce. Initial rollout will begin early 2017 in Thailand followed by other markets.
“We are embarking on an ambitious plan to become Asia’s biggest short-and-micro form video platform by 2018. Our existing foundation of 1 billion views, 25 million subscribers and various highly-rated original shows will give us a competitive advantage and headstart,” continued Chong.
These announcements were made in conjunction with the company’s second annual WebTVAsia 2016 Awards in Seoul, where over 150 nominated digital video creators from 12 countries compete to be named the best in Asia across 33 categories.