Social entertainment company M17 launches livestreaming in Malaysia, Thailand
By Digital News Asia October 14, 2017
- Malaysia’s Tashi Media to recruit, train and manage M17’s livestreaming talents
- Closed a US$40 million series B round in August
M17 Entertainment — created by the merger of Singapore-based dating platform Paktor and Taiwanese video streaming platform 17 Media — has launched livestreaming in Malaysia and Thailand and is aggressively recruiting artists to join the platform.
These two countries bring to six the primary markets for M17 livestreaming, joining Taiwan, Indonesia (January 2017), Hong Kong (July 2017) and Japan (August 2017).
Following the announcement of the merger between Paktor and 17 Media in April 2017, M17 has grown its livestreaming content.
Ninety percent of M17’s revenue is now derived from livestreaming, with livestreaming content currently reaching close to half a million hours each month and with 40 million registered users globally.
Top ‘streamers’ can earn over US$10,000 (RM42,160) per month. (US$1 = RM4.22)
Explaining his Southeast Asia strategy, M17 CEO Joseph Phua (pic) said, “Malaysia and Thailand are exciting markets for M17 as we already generate significant revenue through our operations in North Asia and growing overseas content. With a proven business model and our representative Tashi Media’s help, we will recruit top talent to provide local content to many more viewers in Malaysia and Thailand.”
Malaysia’s Tashi Media will help M17 recruit, train, and manage key opinion leaders (KOLs) for M17’s livestreaming service in Malaysia and Thailand.
Tashi Media is a Malaysian media agency founded by former executives at Red People, a Malaysian artist management company for online artists.
In Indonesia, revenue from livestreaming grew three-fold from January to July 2017.
Eighteen- to 24-year-old viewers form 82% of the audience in Indonesia, with female viewers accounting for over 40% of total audience.
The global video streaming market is expected to reach US$70.5 billion by 2021, with Asia Pacific as the fastest growing region.
Shirley Crystal Chua, CEO and founder of Golden Equator, an early investor in M17, said, “From our early investment into Paktor through to their latest US$40 million funding round, M17 has consistently demonstrated strong leadership and a clear vision in becoming Asia’s leading social entertainment company.
“In line with their business strategy, M17’s investments in original contents, e-sports, and e-commerce will help the company increase its user stickiness and audience reach, providing unique interactive video content for all types of audiences.
“Given the growth potential of livestreaming across Southeast Asia and indeed Asia, we are confident that M17 will become one of Asia’s leading media and entertainment groups.”
In August, M17 announced the close of a US$40 million series B round.
The funding included investment from Golden Equator Capital — a Singapore-based asset management firm.
In addition to livestreaming content generated by its KOLs, M17 is broadening the breadth of its content by expanding into e-sports and e-commerce livestreaming, and by producing original content livestreaming and e-sports.
The expansion into e-sports will be led by Machi Esports and new identified talents they are currently recruiting and developing.
Machi Esports is a Taiwanese professional e-sports team, aiming to represent Taiwan in the World Championship Series and having repeatedly placed among the top five in the League of Legends Master Series—a professional tournament for the multiplayer online video game that reports 100 million users monthly.
The team, founded by M17’s chairman and hip-hop artist Jeffrey Huang, seeks to be one of the leading e-sport influencers in the region, providing its players the platform and infrastructure to grow, improve, and win titles.