17Live, mm2 Asia to explore joint entertainment offerings across South-east Asia

17Live Group and mm2 Asia will be exploring joint entertainment offerings across South-east Asia, the former announced in a press statement on Tuesday (Mar 5).

A memorandum of understanding has been signed by livestreaming platform 17Live and media and entertainment company mm2 Asia to collaborate on entertainment marketing and production-related activities.

Such activities would include marketing of movies, collaboration between live streamers and mm2 movie projects, as well as the production of long-form animation content.

The companies will collaborate to harness respective competitive skill sets in the entertainment industry to bring about new content and offerings to audiences across South-east Asia, the statement said. They will look at investing in entertainment content in the region as well.

The agreement will see parties possibly forming a joint venture of a business unit focused on delivering livestream content via a platform co-owned by both companies.

17Live shares closed 2.4 per cent lower at S$1.20 while mm2 shares ended unchanged at S$0.02 on Tuesday, before the announcement.