You are here
SPH, mm2, RINGS.TV collaborate to develop live streaming platform
ONE of South-east Asia's largest newspaper companies has tied up with a film production company and an online service provider to develop and manage a live and on-demand video application and related services in Singapore.
In an announcement to the Singapore Exchange after market close on Tuesday, main board-listed publisher Singapore Press Holdings (SPH), Catalist-listed mm2 Asia Ltd and broadcasting platform service provider RINGS.TV said that they will collaborate to develop this application. SPH is the publisher of The Business Times.
Under a memorandum of understanding, the three parties will collaborate exclusively with one another to rebrand, re-design and market the application and related services over the next six months.
SPH will curate and provide a variety of content for the rebranded live streaming app. Besides broadcasting news events and streaming interviews, there will also be a line-up of entertaining live shows hosted by broadcasters, it said.
mm2 Asia will live broadcast exclusive material from movie productions, such as auditions, behind-the-scenes footage and interviews with the cast from movie sets, as well as unlock new revenue streams from concert live-cast via mm2 Asia's subsidiary UnUsUaL Group.
Beyond live broadcast, RINGS.TV will also provide video-on-demand service for high demand local and acquired entertainment content, including concerts, movies and trailers - similar to other over-the-top (OTT) platforms.
mm2 had announced in mid-October that it entered into a non-binding MOU with RINGS.TV to acquire up to 30 per cent stake in RINGS.TV for S$4.5 million over 12 months.
SPH's counter closed flat on Tuesday at S$3.66 before the announcement. Its market capitalisation is at about S$5.91 billion.
mm2's counter also closed flat at S$0.455.