SINGAPORE - Entertainment company mm2 Asia said on Wednesday (Nov 27) that it is launching a free-to-use video streaming service called mPlay Asia in April 2020.
The platform will debut in key Chinese-speaking markets - identified as Singapore, Malaysia, Taiwan and Hong Kong.
mPlay will generate revenue for the group via advertising and branded content, mm2 said. It did not disclose the amount invested in the platform.
The platform will leverage the group's regional production capabilities and experience in serving the region's audience base, mainboard-listed mm2 noted in its announcement.
It will play short-form content in Mandarin with duration of between three and five minutes designed for mobile streaming. Content will also be uploaded weekly for live streaming and video-on-demand viewing.
mPlay will also contain live-streaming capabilities and progressively introduce other features such as personalisation, interactivity and e-commerce capabilities - developed together with technology provider ESP xMedia.
mm2 told BT that content on the platform will come from the group's production in the meantime, but there are plans to acquire more titles going forward.
The group's chief executive Chang Long Jong said that demand for quality online Chinese content continues to grow "exponentially".
"We aim to build a platform that is dedicated to providing short video clips with high production values that appeal strongly to our audiences in the region," he added.
mm2 shares were trading down 1.8 per cent at 28 cents as at 2:50pm on Wednesday, after the announcement was released.