This drive into Thailand is part of the company’s plan to expand beyond the China market by adding half-a-million users this year and become one of the most in demand OTT platforms.
Thailand, being a blue ocean market in OTT services, is an ideal location for Tencent to gauge local market reactions and learn how best to proceed in its expansion plan into other parts of South-east Asia.
Jeff Han, senior vice-president of Tencent Penguin Pictures, a production house for original content in China, said that by launching in Bangkok, the company was able to find out the challenges it would be facing in entering overseas market.
The new OTT platform is leveraging on Tencent Video, China’s largest collection of Thai content, to attract local viewers. It is also featuring original Chinese content from Tencent Penguin Pictures with Thai subtitle.
Through collaboration with local partners such as One31 Channel, GDH and Insight Technology, WeTV plans to create original content for Thailand and also to export the content to Chinese-speaking markets in the region.
Kaichen Li, director of business operations at Tencent Video, is offering a flexible model for co-production, revenue sharing and/or fixed margins.
As more consumers shift to mobile video consumption, WeTV will offer a freemium model and bundle packages with Tencent’s music streaming service, JOOX.
Image source: Tech Sauce