Bangkok--3 Dec--BEC-TERO MUSIC
BEC-Tero Music taps into international music market at full course in order to expand business base for future growth opportunity, winning the exclusive right to operate in 4 countries including Thailand, Cambodia, Myanmar and Laos, managing to open the initial market in Cambodia, partnering with Smart Axiata Co., Ltd. or Smart in distributing international music from Sony Music and Asian music from YG Entertainment, JYP Entertainment and AVEX Group, as well as Thai music from BEC-Tero Music, through service Smart Music App, to serve online music demand experiencing high growth, believed to expand marketing base and strengthen business, targeting the year 2016 to roll out in ASEAN, ascending to ASEAN Digital Content Center leader.
Mr. Paul Manatthaworn, General Manager of BEC-Tero Music under BEC-Tero Entertainment (Public) Company Limited, disclosed business expansion plan. "From now BEC-Tero Music will obviously focus on music market expansion in Southeast Asian countries (ASEAN) fueled by growth potential following the effectiveness of ASEAN Economic Community or AEC. We set the target to accelerate business growth while highlighting Company's vision in achieving the leader of Digital Content Center in ASEAN. In the beginning, the Company has been awarded the right to distribute music in 4 countries including Thailand, Cambodia, Myanmar and Laos. Starting with market expansion in Cambodia in view of market growth and telecoms market size, coupled with behavior of new generation engaging rapid change and music listening on smartphone. Therefore, we spot ample business opportunity.
Regarding Cambodia market penetration plan, recently BEC-Tero Music entered into the Cooperation Agreement with Smart Axiata or Smart to distribute international music from Sony Music, Asian music from YG Entertainment, JPY Entertainment and AVEX Group and Thai music from BEC-Tero Music in Cambodia through the service Smart Music App, a music streaming service on mobile phone. The cooperation with Smart for distributorship will leverage on Smart's telecom market leadership. At present Smart enjoys 50% market share of Cambodia population and, out of its customers, 40% data users. What BEC-Tero Music is interested is the hit rate of contents can reach up to 50% of Cambodia population. In addition, Smart specializes in local area and distribution channel as a company in Axiata Group, an Asia's giant telecom player owning 260 million customer base."
"The collaboration with Smart establishes a network of excellent music service for Cambodia customers before expanding to other countries in this region. We believe that BEC-Tero Music and Smart will share benefits. Although both operate in different industry, they have different strengths and weaknesses. BEC-Tero Music specializes in total music content solutions while Smart possesses expertise and experience in telecoms market as well as insight into customer demand in the area. We are convinced that the partnership will expand music distribution in Cambodia market which continues to grow and strengthens the two companies even further. In 2016, we plan to penetrate markets in other ASEAN countries."
Mr. Thomas Hundth, CEO of Smart Axiata Co., Ltd., unveiled "The Smart Music App Phase 2 is the latest service developed from Smart Music App launched last month, in conjunction with 6 local partners, serving online streaming music contents via mobile phone App. Today marks a major milestone. Cambodian consumers will have new experience and more option to enjoy unlimited music. The App offers a variety of music banks including international, Thai, Japanese and Korean for unlimited updates. Users may search and download preferred music via App conveniently every time and place. I believe that business model and operation seamlessly combines and completes our business expanding music market base in a wider scale."