Turner Asia Pacific invests in Vietnamese digital media company POPS

Visual from POPS Worldwide website.

Turner Asia Pacific, the Asian branch of broadcasting group Time Warner, has acquired a significant minority stake in Vietnamese digital media and creator network POPS Worldwide.

Financial details were not disclosed.

In an interaction with DEALSTREETASIA in May this year, POPS founder and CEO Esther Nguyen had revealed that the firm had closed a Series B funding round in 2016 and was in the process of raising the next round from new investors. The Series B funding was made by existing shareholders.

Meanwhile, the latest investment comes on the heel of a previous collaboration between Turner and POPS when Turner’s Boomerang brand entered Vietnam last year through POPS Kids non-linear platforms.

The US firm’s subsidiary said the investment will widen the partnership with POPS.

“With its unique proposition, POPS has shown to be very adept at attracting and engaging audiences with its local content and creator network, and this agreement allows Turner to venture into this growing side of the business,” commented Ricky Ow, President of Turner Asia Pacific.

“Our investment is part of Turner’s desire to place fans and consumers at the very core – to reach and engage them with branded content and playlists – as well as target diverse demographics in new ways.”

Vietnam and Southeast Asia are rapidly growing markets for video-on-demand viewing, Ow added. POPS has been present in Vietnam and Thailand and aims to expand to Indonesia with this funding.

Since launching its digital video network business in late 2011, POPS has doubled its annual views each year and recently surpassed 40 billion lifetime views, with 32 million YouTube subscribers.

“Using this investment, we can supercharge our ambitious vision to lead digital entertainment in Southeast Asia. We plan to expand our network onto more mobile and non-traditional platforms, invest heavily in content production and open new markets,” said Nguyen.

Representing some 90 per cent of the local online music industry, POPS is working with over 1,700 content partners on more than 1,200 network channels.

Also read: Vietnam: POPS completes series B round, in talks to raise series C