After Beating Netflix, Richard Li’s Viu Looks to Next Battle
- Streaming service trails only Disney Plus in Southeast Asia
- Hybrid model of partly free, partly paid content paid off
This article is for subscribers only.
Billionaire Richard Li’s streaming business is on a roll, mulling a potential initial public offering after its platform Viu beat Netflix Inc. in subscribers in one of Asia’s most competitive markets.
Viu is now Southeast Asia’s second largest streaming service by paid subscribers, trailing only Disney Plus, according to research firm Media Partners Asia. Its success has driven the over-the-top media business of Li’s conglomerate PCCW Ltd. to post a revenue jump of 29% in the first half of this year, narrowing losses by 75%.