Singtel, SK Telecom, AIS pour series A funding in new gaming JV

Singapore Telecommunications and Thai affiliate Advanced Info Service (AIS), along with South Korea’s SK Telecom, announced that they have made a series A investment in a regional gaming joint venture to develop new gaming-related revenue streams.

Representatives from Singtel, AIS, and SK Telecom mark their investment in the regional gaming joint venture via a video conference. / Photo credit: Singtel

The joint venture, whose name is still undisclosed, will partner with international game developers and leverage the partners’ gaming and entertainment content offering to engage millions of gamers in Southeast Asia, according to a statement.

“Gaming is growing in popularity as digital entertainment for our customers in the region. There are some 200 million gamers in our markets, and the numbers continue to grow,” Arthur Lang, the CEO of Singtel’s International Group, said.

Singtel has previously initiated PVP Esports to reach the Gen Z and millennial markets. According to Lang, the company has built a dedicated team of tech and gaming veterans as they venture into gaming content distribution.

“We can contribute significantly to the gaming scene – from offering local community engagement solutions to content and payment channels […]. We look forward to launching our new initiative later this year,” Lang said.

According to Yonhap News Agency, the JV will focus on providing a gaming social network and relevant media content services. It may also broadcast esports competitions using virtual reality and produce videos featuring professional eports players.

Singtel, AIS, and SK Telecom will have equal shares in the JV, according to the report.

The deal follows an earlier collaboration between Singtel and SK Telecom, which was aimed at developing the region’s gaming and esports ecosystem.

PC and mobile game revenue for Greater Southeast Asia is projected to pass US$8.3 billion in 2023, with 320 million gamers, according to a report. Esports is also the most important driver of growth in the industry, with 90% of mobile gamers playing esports games or competing in esports events.