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Tencent becomes minority shareholder in MD Pictures

22 October 2021 08:32

JAKARTA - PT MD Pictures Tbk (FILM) yesterday (21/10) announced that Tencent Holdings Ltd., has become a minority shareholder in MD Pictures. This investment shows that Tencent has a positive view of the content industry in Indonesia as well as strong belief in market leadership and MD Pictures' growth potential.

“We are excited to welcome Tencent as a new investor in FILM," said Manoj Punjabi, Founder & CEO, MD Pictures, "This investment reflects Tencent's ongoing commitment as a cutting-edge technology company to develop the content industry globally."

According to an Antara report, MD Pictures survived the Covid-19 pandemic by building partnerships with digital platforms such as Disney+Hotstar, WeTV, iFlix, Viu, Netflix and Vidio. (LM)

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