Asia's leading media technology company sets eyes on growing global creator economy
KKBOX Group, Asia's leading media technology group, announced that the company has changed its name to "KKCompany." Since the establishment of the group, KKCompany has grown its portfolio companies and expanded its business internationally through five major business lines: audio streaming platform KKBOX, OTT service KKTV, streaming solutions provider KKStream, live entertainment company KKLIVE and content accelerator KKFARM. The company's mission is to build "Freeways to Inspiration" that enable content creators from different industries to embrace new technology and transform themselves digitally in the Digital Age.
Chris Lin, Group CEO of KKCompany
Three Major Strategic Pillars
KKCompany began the world's first legal music streaming service in 2004. It has since expanded from one single service to an array of products and services, establishing its footprint internationally. The company's strategy is locked in three major pillars: validating their technology by building their own media verticals, strategic investment into content creators and providing technology solutions to help other content creators harness the promise of transformational technology, as well as inherently growing the company's own ecosystem.
"We gained a lot of experience operating our media verticals. We have first-hand information of user needs and a deep understanding of the challenges content creators and enterprises face today. This puts KKCompany in a unique position to provide not just technological solutions but also strategic consultation necessary to overcome the challenges of digital transformation, create new diverse business models and achieve success," said Chris Lin, Group CEO of KKCompany. "Over the past five years, we have diversified our product portfolio and began aggressively expanding globally. We have gone from perfecting music streaming to innovating live entertainment, making strategic IP investment and providing others with advanced streaming solutions and infrastructure. Our overseas business accounts for 40% of our revenue today."
Global Creator Economy Growth and Opportunities
The rise of social media platforms has fueled the global creator economy, revolutionizing the way content and communities emerge, transact and co-exist. "Creators struggle to cut through the algorithmic constraints on social media platforms that are largely in favor of ads," Lin expressed, referring to how popular social media helps creators gain followings that do not necessarily translate to earnings. "Ideally, they should have their earned media but also be afforded means to build their owned media, allowing you to go wide and deep simultaneously."
Lin added that the efforts KKCompany has been making are all aimed to provide content creators and providers from different fields with accessible, affordable and enjoyable technology necessary to achieve success in an increasingly fragmented Internet. "We believe that content creators have the power to inspire people and through providing technological solutions, the company hopes to build freeways of technology that level the playing field, allowing every content creator to accelerate their growth."
Unprecedented Demand for Live Streaming
The global pandemic has undoubtedly changed the nature in which we experience events. In response to the growing demand for online events and experiences, KKStream worked with KKLIVE to build Taiwan's first one-stop online live event streaming platform "KKTIX Live" through its live video streaming product BlendVision Moment in less than a month. The service is now available for music performances, after-screening forums, fitness courses, technology symposiums and an array of online classes.
BlendVision Moment, which supports low latency 4K streaming, multi-angle video and an ever-growing range of interactive features, allows audiences all over the world to enjoy and participate in interactive livestream based events. As part of KKStream's modularized Streaming-as-a-Service video streaming solutions suite, the BlendVision product line also includes BlendVision KALEIDO, a one-stop OTT technology service and BlendVision LOOM, a game changing AI-powered video encoding solution. All BlendVision products are equipped with complete DRM protection to help content owners tackle copyright infringement challenges. KKStream's clients include Japanese telecom giant KDDI, Global electronics manufacturer Foxconn Technology Group and Chunghwa Telecom, Taiwan's largest telecom operator.
The Asia-Pacific OTT media streaming market is growing fast. According to Statista, it is expected to become a US$88.3 billion market by 2025. KKStream will continue to expand its business globally through BlendVision as well as its enterprise service and accelerate the growth of the KKCompany's revenue outside Taiwan.