PCCW OTT gets new strategic investors

The strategic investment will strengthen PCCW OTT’s ability to enhance its core value proposition of relevant content including distinctive original productions, and to continue to deploy the latest technologies and leverage its patents in video streaming and encoding to offer the best customer experience, the Hong-Kong based company announced. 
As a rapidly expanding business, PCCW OTT aims to increase its penetration within the existing markets where it has made significant inroads, as well as to expand its footprint in other high-growth markets, PCCW Media added.
PCCW OTT engages in the provision of OTT (over-the-top) Internet media and entertainment services in 24 markets globally, including video-streaming services under the Viu and Vuclip brands, as well as a music-streaming service under the MOOV brand. 
China-based Hony Capital, Taiwan-based Foxconn Ventures and Singapore’s Temasek will together own about 18 per cent of the enlarged issued share capital of PCCW OTT for a total consideration of US$110 million (Bt3.65 billion). 
PCCW Media will remain as the controlling shareholder of PCCW OTT.
Launched in October 2015, Viu had over 12 million monthly active users as of June this year. Viuis is available in 15 markets: Hong Kong, Singapore, Malaysia, India, Indonesia, the Philippines, Thailand, Bahrain, Egypt, Jordan, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
Vuclip, which joined the PCCW family in May 2015, provides Web-based and short-form content video services under the Vuclip” brand in 19 markets, including India, Southeast Asia, the Middle East, Africa and other emerging markets.