VIU is a leading pan-regional over-the-top (OTT) video streaming service available in 16 markets across Asia, the Middle East, and South Africa, with over 62 million monthly active users.
The Over-The-Top video streaming market in the Middle East and North Africa (MENA) region experienced robust growth in 2023, with Omdia data reporting a 13% increase across the region and revenues exceeding $1 billion.
Together, they will offer a complete suite of services to content owners, Over-The-Top (OTT) platforms, TV channels, telecom operators, and internet players.
The US cable and satellite pay TV services are set to face subscription declines in the coming years as their remaining viewers increasingly shift to over-the-top streaming services, GlobalData said in its latest report.
According to Kagan's 2022 survey of OTT partnerships and virtual multichannel services, Asia-Pacific multichannel operators have become hybrid providers, with traditional multichannel and virtual multichannel or over-the-top subscription offerings launched in recent years.