PCCW OTT secures USD 110 mln in funding from Hony, Foxconn, Temasek

Thursday 10 August 2017 | 15:19 CET | News

PCCW Media has announced that its unit PCCW International OTT has attracted funding from Hony Capital, Foxconn Ventures and Temasek. The three new investors will own around 18 percent of the enlarged issued share capital of PCCW OTT for a total consideration of USD 110 million. PCCW Media will remain the controlling shareholder of PCCW OTT.

PCCW OTT plans to use the fresh funds to enhance its content including original productions, as well as continue to deploy new technologies and use its patents in video streaming and encoding to upgrade customer service. PCCW OTT aims to increase its penetration within the existing markets, as well as expand its footprint in other high-growth markets. PCCW OTT provides OTT 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.

Launched in October 2015, Viu reports it has over 12 million monthly active users. Viu is available in 15 markets including Hong Kong, Singapore, Malaysia, India, Indonesia, the Philippines, Thailand and the Middle East countries of Bahrain, Egypt, Jordan, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.

Vuclip joined the PCCW family in May 2015. It provides web-based and short-form content video services under the Vuclip brand in 19 markets including India, Southeast Asia, Middle East, Africa and other emerging markets. 

MOOV is a Hong Kong multi-platform digital streaming music service. The platform is also available in Vietnam.

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