WebTVAsia Signs Global Strategic Partnership Alibaba’s Tudou
The acquisition of Layaria (Indonesia) and investment in Duble Kick Entertainment (Korea)
WebTVAsia, a Malaysia-owned digital media entertainment company, announced today a global strategic partnership with China’s top short video platform Tudou – a wholly owned subsidiary of Alibaba Digital Media and Entertainment Group.
WebTVAsia has over 1,000 of the most popular Asian creator channels, which are watched over 1.5 billion times by over 40 million Asian millennials on YouTube. Today, they are partnering in Tudou’s new RMB2 billion (USD291 million) global short-form content sourcing initiative codenamed The Big Fish Plan.
The Big Fish partnership with Tudou offers WebTVAsia four privileges in areas including Algorithm, Weighing, Valuation, Adjustment, Brand Marketing and Copyright Protection. Since 2013, they have joint projects: successfully generated 500 million views for the song – Little Apple – that went viral on YouTube and Youku-Tudou.
Alongside this announcement, they are also expanding their Indonesian content by announcing the acquisition of Layaria, an Indonesian online media company and investment in Duble Kick Entertainment, a Korean entertainment agency.
“Our vision is to be the leader that champions Asia’s media entertainment ecosystem…These investments in Indonesia and South Korea will give us significant growth opportunities to tap into two highly competitive markets,” said Fred Chong, founder and Group CEO of WebTVAsia.
With Layaria’s user base of 80 million and as Asia’s third largest social media platform, WebTVAsia’s market share is set for exponential growth predicted to hit 25 times of viewership growth by 2019. Layaria already has a network of over 800 content creators that spread across Jakarta, Bandung, Surabaya and Yogyakarta.
Duble Kick Entertainment is helmed as one of the most succesful production studio with an impressive 77 albums with stars including T-ARA, SISTAR, KARA, BAP and Momoland. Marking its tenth official market entry, WebTVAsia’s strategic buy with the Korean company will see more top Korean artistes and original content being promoted and commercialised over its 1,000 digital channels of regional network.