Tencent-owned music streaming platform JOOX has inked a programmatic video advertising partnership with Denver-headquartered video advertising platform SpotX, a subsidiary of Bertelsmann’s RTL Group.
JOOX claims to be the largest music streaming platform in Hong Kong, Malaysia, Indonesia, Thailand and Myanmar and attracts advertising from major consumer brands such as Coca-Cola, P&G, Unilever, and regional brands such as e-commerce platform Shopee and Southeast Asian “super app” Grab.
The partnership will see JOOX collaborate with SpotX to work on its primary supply-side platform (SSP) to power its video monetization across Southeast Asia to support the growth of its programmatic advertising business.
SpotX’s technology is used by media companies such as A+E Networks, Crackle Plus, The CW Network, Dentsu CCI, Discovery, Electronic Arts, Fox Corporation and Roku.
In a press release announcing the partnership, JOOX cites research by Ipsos from 2018, which shows that mobile music streamers in the Asia-Pacific region spend 3.6 hours on mobile per day on average – 28% higher than the global average.
JOOX was launched in Hong Kong in 2015 and operates on a freemium model, offering users 30 million songs, accessible by desktop or mobile.
The JOOX platform also includes social entertainment features such as JOOX Karaoke, which the platform reports has seen a usage spike of up to 50% during the Coronavirus pandemic.
The JOOX platform’s listener base comprises 62% of users aged between 25-43.
“Working with SpotX will allow us to accelerate and scale our programmatic video strategy as we increasingly engage agencies and advertisers looking to target a hard to reach audience in a premium brand safe environment at scale.”
Poshu Yeung, Tencent
“With JOOX’s growing popularity in Southeast Asia, millions of millennials listen and interact daily on the platform,” said Poshu Yeung, Vice President, International Business Group, Tencent.
“Working with SpotX will allow us to accelerate and scale our programmatic video strategy as we increasingly engage agencies and advertisers looking to target a hard to reach audience in a premium brand safe environment at scale.”
“We’re certainly excited to have SpotX support JOOX on their programmatic monetization journey, and we look forward to working more closely in the future.”
Gavin Buxton, SpotX
SpotX Asia Managing Director Gavin Buxton, added: “As content consumption continues to be dominated by smartphones, certainly in Asia, freemium streaming music platforms with scale like JOOX stand to gain more and more marketing budgets as brands strive to find new ways to reach younger audiences.
“We’re certainly excited to have SpotX support JOOX on their programmatic monetization journey, and we look forward to working more closely in the future.”Music Business Worldwide