Chinese investment firm Tencent Holdings will introduce its streaming media music service Joox to Southeast Asia to meet rising demand in the region. The company said it plans to launch a subscription video-on-demand (VOD) and online radio station called Jio Radio on June 1 with content from local broadcasters such as Astro Wah Lai Toi Tencent hopes the push into the Asian market will be made easier by cultural similarities across the continent. Joox is already available in Hong Kong, Indonesia, Malaysia and Thailand. The company faces stiff competition from rivals Spotify and Apple as well as the challenge of rampant software piracy.
Chinese investment firm Tencent Holdings will introduce its streaming media music service Joox to Southeast Asia to meet rising demand in the region. It's believed that the number of people using music streaming services in Asia will reach 87 million by 2020, up from 47 million in 2015. Tencent hopes the push into the Asian market will be made easier by cultural similarities across the continent. Joox is already available in Hong Kong, Indonesia, Malaysia and Thailand. The company faces stiff competition from rivals Spotify and Apple as well as the challenge of rampant software piracy.