M17 Group Has Processed Over Half a Billion Dollars' Worth of Virtual Gifts
TAIPEI, Jan. 16, 2020 /PRNewswire/ -- M17 Group, the largest live streaming and social entertainment company in Developed Asia, announced today that it has achieved another major milestone: M17 Group's ecosystem of livestream and social entertainment products have processed over half a billion dollars' worth of virtual gifts to a total of 30,000 exclusively contracted artists.
"We have worked hard for the last few years to build a powerful ecosystem for entertainers, so naturally this milestone is a huge testament to the team's efforts and our leadership position in the market. I believe we are only just scratching the surface of what is possible in the live stream and social entertainment field, and I am excited to be surrounded by talented team members and artists who are working hard towards achieving the dream," commented by Joseph Phua, CEO of M17 Group.
In addition, on Jan 1 2020, M17 Group newly launched a common virtual gaming currency across its products-including 17 Media, 17 Live, MeMe Live and LIVIT. This common virtual gaming currency will enable cross platform usage activity from users across its ecosystem, and provide users with more entertainment and social contents to choose from, while spending from the same pocket of funds. This is Phase one of the group's "One Login, One Currency, One Ecosystem" multi-phase plan that will see deep integration across M17 Group's ecosystem of products, users and stakeholders.
In 2019, M17 Group drove significant growth for its streaming and live commerce brands. HandsUP, its social live commerce service launched in 2019 by M17 Group, has become highly successful with nearly 7,000 livestream merchants, and has more recently expanded into Japan, Thailand and Vietnam. Looking ahead into 2020, M17 Group expects to continue to stand firm in Japan and Taiwan, given its over 65% market share leadership in these markets, while expanding globally into markets like Hong Kong, the US, Middle East and more. The group will continue to expand its global operating bases and accelerate its growth via content diversification and potential acquisitions.