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Vice Media plots expansion across Asia for TV shows, web videos

By Lucas Shaw, Bloomberg
Published: November 12, 2017, 5:28am

Vice Media Inc., one of the most highly valued U.S. media startups, is expanding in Asia with new offices and partnerships with leading media companies and advertisers as it seeks a larger piece of the region’s $18 billion market for online video.

The producer of provocative shows about youth culture and global politics is opening an Asia-Pacific base of operations in Singapore. Vice will also expand its subscription video-on-demand service into at least six new markets, including India and Thailand, according to a statement.

The company has earned a valuation in excess of $5 billion by convincing advertisers, media companies and investors of its unique ability to make videos that appeal to young viewers. HBO commissioned Vice to produce a daily news show, along with a weekly news magazine. Walt Disney has invested hundreds of millions of dollars in the company.

Striking deals

Under pressure to keep growing ahead of a potential initial public offering, Vice is striking deals with some of the largest media companies in Asia, which has a large and growing youth population. In Malaysia, Vice will license TV shows and create multiplatform programming for Media Prima. In Indonesia, Jawa Pos TV will air episodes from Vice’s cable network and news show, as well as digital programs.

Home to more than half of the world’s population, Asia tantalizes the world’s largest media companies. 21st Century Fox, Sony and Viacom have chased movie riches in China, the second-largest market in terms of box-office sales, while buying up TV networks in India. With a new generation of consumers watching video on their phones, analysts estimate the market for online video will expand to $46 billion by 2022.

“We believe there is a huge opportunity for Vice to build out a deeply relevant, highly local, youth media company across the Asia Pacific region,” Hosi Simon, Vice’s new chief executive officer for the region, said in a statement.

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