SpotX inks video ad deal with music streaming platform JOOX
Global video advertising company SpotX has partnered with Asia’s music streaming platform JOOX in a deal that will see SpotX assist JOOX monetize content across all screens and streams while supporting the growth of its programmatic advertising business.
JOOX is the largest digital streaming music platform in Hong Kong, Malaysia, Indonesia, Thailand and Myanmar. Since its 2015 entry in the Hong Kong market, JOOX has gained popularity in Asia, driven by a strong localization strategy offering unique features and a wide selection of both local and regional content. It operates on a freemium model and offers users 30 million songs, accessible by desktop or mobile. The music service can be accessed by app, mobile, or desktop.
Poshu Yeung, Vice President, International Business Group, Tencent: “With JOOX’s growing popularity in Southeast Asia, millions of millennials listen and interact daily on the platform. 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.”
The JOOX platform also includes social entertainment features such as JOOX Karaoke which has been a major hit among users and has seen a usage spike of up to 50 per cent during the current pandemic situation.
Major consumer brands have leveraged JOOX’s advertising solutions including global advertisers Coca-Cola, P&G, Unilever, and leading regional brands such as e-commerce platform Shopee and Southeast Asian super app Grab.
The JOOX platform has a strong youth listener base, with 62 per cent of users aged between 25 and 43. Research firm Ipsos says that the Asia-Pacific region is the leading market for mobile music streamers, with 3.6 hours spent on mobile per day on average, 28% higher than the global average.
Gavin Buxton, Managing Director, SpotX Asia: “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.”