Fri, Oct 13, 2017 - Page 12 News List

Asian sales eyed by Choco Media

By Lisa Wang  /  Staff reporter

Choco Media Co (巧克科技新媒體), an online content start-up, yesterday said it is in sales talks with potential partners from Southeast Asia, as the two-year-old business seeks to increase its revenue and user base.

Duplicating the business model of US online content giant Netflix Inc, Choco Media last year started producing its own movies, drama series and short videos and and offering them for free to better cater to its audience.

Its blockbuster romantic TV drama series HIStory has been seen by more than 5 million viewers since it became available in February, the company said.

HIStory season two is in production based on the popularity of season one, it said.

Last year, Choco Media spent NT$50 million (US$1.65 million) producing seven movies, TV dramas and short videos. The company signed 1.5 million users and recorded 28 million views a month, the company said.

The company plans to double its budget next year and produce 15 original content items and increase its user base to 3 million.

The Taipei-based over-the-top (OTT) content provider said it is stepping up efforts to expand its reach to Southeast Asia.

The company is in talks with potential partners to distribute its original content later this year, before launching its app services in the region next year, Liu said.

Choco Media, founded by three university graduates last year, said it secured an unspecified investment from local online game developer Gamania Digital Entertainment Co (遊戲橘子) earlier this year.

Gamania holds about a 30 percent stake in the firm.

“We need a capital injection to fund content production and content acquisition,” Liu said. “The management team still holds a controlling stake of more than 50 percent.”

To increase its revenue sources, Choco Media yesterday launched paid-service viewing that is advertisement free. It aims to have 3 percent of its users sign up for the new service that costs NT$150 per month.

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