By VIET NAM NEWS
ASIA NEWS NETWORK
HO CHIN MINH CITY
The US company has sold its Thai assets for US$1.55 million (B48.53 million) in cash along with stock options.
TMG Thailand is a YouTube multi-channel network with a strong market position in the Thai digital media industry and a good reputation with advertising agencies and the creator community. It manages over 580 creator channels.
The acquisition is in line with Yeah1’s strategy of growing its social influencer and digital media business throughout Southeast Asia.
It has a presence now in Thailand, Indonesia, the Philippines and Singapore. Following the acquisition, the assets are expected to contribute revenues of $2-3 million in the first 12 months and $6-7 million after two years.
Yeah1 operates several successful divisions, leveraging its massive community to build on its movie, television, digital and publishing businesses. Last June, it became the first media company to list in Vietnam . Thoughtful is a digital multi-channel network, operating on YouTube around the world with a strong footprint in the Thai market.
It connects brands and audiences, helps advertisers spend their money more efficiently and effectively across hundreds of thousands of creator channels in areas such as fashion and beauty, DIY, video games, cooking, automotive and travel.