Theta Labs, a blockchain infrastructure provider for Web3 media and entertainment, has partnered with ABS-CBN, the Philippines’ leading content company, to enhance the Southeast Asian (SEA) media and entertainment industry with Theta video API and digital collectibles.
Aims of the new partnership
ABS-CBN aims to explore the potential of Web3 technology by utilizing Theta’s video API across various business units, enabling the company to enhance the viewer’s experience and bring Web3 features and capabilities to its viewers, offering new ways to discover and engage with their favourite content.
The partnership also presents fresh opportunities for media and entertainment fans in the Philippines, including the introduction of NFT collections that will offer a unique way to engage and connect with their favourite characters and stories. Following the success of “Idol Philippines” on ThetaDrop, Theta will be the Web3 video infrastructure partner to power ABS-CBN’s various business units and its digital collectibles NFT business.
Remarks on the new partnership
Mitch Liu, CEO of Theta Labs, believes that the widespread adoption of subscription and ad-supported streaming services, original IP, and content in Southeast Asia, coupled with the success of the “Idol Philippines” digital collectibles on the Theta blockchain, demonstrates the potential for exponential growth in the region. Through the partnership with ABS-CBN, Theta’s video and Web3 infrastructure will be made available to millions of viewers in the media and entertainment industry.
The head of digital at ABS-CBN Corporation, Jamie Lopez, is thrilled about the partnership with Theta Labs and looks forward to testing and exploring Theta’s Web3 video and NFT DRM infrastructure, which can enhance the audience experience across various businesses and IPs. The partnership will bring new features and capabilities to the viewers and push entertainment boundaries.
What the partnership means to both communities
This partnership is a significant development for the SEA media and entertainment industry, as it will enable ABS-CBN to offer innovative services that will enhance the viewer’s experience and engagement. Theta Labs, on the other hand, will expand its reach in the region and help accelerate the adoption of Web3 technology in the media and entertainment industry.
Overall, the partnership between Theta Labs and ABS-CBN is a win-win for both companies, as it will enable them to provide value to their customers and expand their businesses. The introduction of NFT collections in the SEA media and entertainment industry is a significant development that could pave the way for more innovative services and offerings. It will be interesting to see how this partnership will unfold and what new features and capabilities it will bring to the viewers.