Signifying a Strategic Partnership among the Prominent Companies
Jakarta, 28th February 2013 – MNC Media, Southeast Asia’s largest and most integrated media company along with Tencent(HKEX code:0700.HK), a leading provider of comprehensive Internet services, today announces their joint venture with support from Hillhouse, a leading Asia-based institutional investment firm.
Mr. Hary Tanoesoedibjo, CEO MNC Group, has expressed his delight in this joint venture. “We are very pleased to be in a business cooperation with Tencent, a global company that is well recognized of having the technological strengths to enhance the communication experience in this digital era. The combination of Tencent’s unique technology and expertise as well as MNC Media’s significant presence in Indonesia’s media industry will greatly ensure the success of the joint venture in fully capitalizing the vast potential growth of Indonesia’s Internet based services. WeChat, a mobile social communication services is an example of Tencent’s many products and services that is quickly gaining popularity in Indonesia “We wish to express our gratitude to Hillhouse Capital Management for their valuable assistance in consummating this joint venture” he explained.
Mr. Lei Zhang, the founder and CEO of Hillhouse said: “We are honored to help bring together two world-class partners and also excited about our participation in the offering of this fantastic service.”
Tencent, one of the top five Internet companies in the world by market capitalization,is very pleased to join forces with MNC Media. “Tencent’s cooperation with MNC Media is a strategic step to establish a more expansive user base in the Indonesia.” said Mr. Martin Lau, President of Tencent. “The Joint Venture will be set up in Indonesia to develop and operate in the area of Internet and mobile Internet as well as other products and services of Tencent that may be launched in Indonesia.”
Mr. Martin Lau further added that “We have a great respect for MNC Media because they are one of the largest and most influential media companies in Indonesia. The combination of Tencent’s unique technology and expertise as well as MNC Media’s significant presence in Indonesia’s media industry will lay a solid foundation to explore the vast potential growth of Indonesia’s Internet industry. We would like to thank Hillhouse for bringing this cooperation together and recognizing the value in combining the strength and knowledge of MNC Media and Tencent,”.
One of Tencent’s most popular products which has been available in Indonesia since 2012 is WeChat. This free social communication service for smartphones has garnered more than 300 million registered user accounts worldwide. Recently Tencent launched WeChat for BlackBerry, verifying its hold on the major smartphone platforms available. WeChat for BlackBerry has since been very well received in Indonesia, one of the countries with the most number of BlackBerry users.
As part of the cooperation, MNC Media’s subsidiaries will have official accounts on WeChat, to directly interact with their consumer base and to provide them with useful information and updates about the company’s services. The Joint Venture has also launched a WeChat TV commercial which started airing on February 23rd 2013. It has been broadcasted on three of the most popular TV stations in Indonesia, namely RCTI, Global TV, and Trans 7. The commercial features Gisel, a young and talented female idol who represents the fresh and fun experience of WeChat.
“It’s a great honor to have MNC Media and Hillhouse as our partner. We are confident that this Joint Venture with MNC Media and Hillhouse will expand our reach further in Indonesia and bring us closer to Indonesian mobile device users by making us the number one choice for their social communication service.” Mr. Martin Lau concluded.
About MNC Media
MNC Media is the largest and the most integrated media company in Southeast Asia with core businesses in content, advertising based media and subscriber based media. Content and advertising based media is operated through PT Media Nusantara Citra Tbk. (“MNC”). MNC’s core businesses are in content and the operations of three national free-to-air televisions.
MNC has the largest content library in Indonesia with over 120,000 hours of the most valuable programs in the TV industry and increasing annually by over 10,000 hours. MNC has successfully monetized the vast content library through the creations of 16 specialized channels that are broadcasted on pay-TV. MNC is planning to add 4 more channels in 2013. MNC has ownerships of 3 out of 10 national privately owned Free-To-Air televisions in Indonesia with the largest aggregate average audience share of 38% (as of 31st December 2012) during prime-time all demographic.
Subscriber based media is operated through PT MNC Sky Vision Tbk, the largest pay-TV operator in Indonesia with over 70% share of total pay-TV subscribers through three leading brands, namely Indovision, Top TV and OkeVision. For more information, please visit: www.mediacom.co.id
Tencent aims to enrich the interactive online experience of Internet users by providing a comprehensive range of Internet and wireless value-added services. Through its various online platforms, including Instant Messaging QQ, web portal QQ.com, QQ Game Open Platform under Tencent Games, multi-media social network Qzone and wireless portal, Tencent services the largest online community in China and fulfills user’s needs for communication, information, entertainment and e-Commerce on the Internet.
Tencent has four main streams of revenues: Internet value-added services, mobile and telecommunications value-added services, online advertising and e-Commerce.
Shares of Tencent Holdings Limited are traded on the Main Board of the Stock Exchange of Hong Kong Limited, under stock code 00700. The Company became one of the 43 constituents of the Hang Seng Index (HSI) on June 10, 2008. For more information, please visit http://www.tencent.com/ir/
Hillhouse Capital Management is a leading Asia-based institutional investment firm. With a particular focus on consumer, media, and industrials, Hillhouse makes public and private equity investments in Asia and other markets on the basis of deep fundamental research. Hillhouse takes pride in partnering with the best entrepreneurs across the world to build meaningful, long-lasting business franchises. Supported by a capital base comprising university endowments, foundations, sovereign funds, family offices, and other preeminent global institutional investors, Hillhouse is committed to generating investment value over the long-term.