Music streaming platform JOOX has collaborated with global video advertising platform SpotX to work on its primary supply-side platform (SSP), which will power its video monetisation across all screens and streams in Southeast Asia, supporting the growth of its programmatic advertising business.
JOOX is a digital streaming music platform with presence in Hong Kong, Malaysia, Indonesia, Thailand and Myanmar, and is owned by Tencent. Since its 2015 debut in Hong Kong, JOOX has amassed popularity in Asia, driven by a strong localisation 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 phones.
Its platform feature includes social entertainment such as JOOX Karaoke. According to the company, the Karaoke feature has been a hit among users, seeing a usage spike of up to 50% during the current pandemic situation. Major consumer brands like Coca-Cola, P&G, Unilever, and leading regional brands such as eCommerce Shopee and Southeast Asian super app Grab have leveraged JOOX’s advertising solutions.
JOOX has since built a strong youth listener base, with 62% of users aged between 25-43. Research firm Ipsos has said 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.
Poshu Yeung, vice president, International Business Group at Tencent said that with JOOX’s growing popularity in SEA, 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”, Yeung 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,” said Gavin Buxton, MD Asia at SpotX. “We’re certainly excited to have SpotX support JOOX on their programmatic monetisation journey, and we look forward to working more closely in the future,” Buxton added.
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