Hong Kong-based streaming services business Viu is planning to go public. B. G. Srinivas, Managing Director of PCCW, the company behind Viu, said that the group considers introducing strategic partners or even a listing for Viu.

This consideration came about after Viu successfully beat its greatest rival in the industry, Netflix, especially in the Asian market. 

Owned by Richard Liu and founded in 2016, Viu is now the second largest streaming service by paid subscribers in Southeast Asia after Disney Plus. 

In the first half of this year, the OTT media business recorded a 29% surge in revenue, narrowing losses by 75%.

Viu’s strategy is to adopt a hybrid model that offers both free and paid content with advertisement for the former. On the other hand, most of its rivals only offer paid content for those who have subscribed to their service. 

This strategy is seen as the reason behind Viu’s triumph, especially due to the lower spending power and rampant piracy in the region. In the first half, Viu recorded a 54% jump in advertising and marketing income stream. 

“Our aim is to continue to be frontrunners in the digital entertainment space in Asia,” Viu CEO Janice Lee told Bloomberg. 

With this in mind, Viu is pivoting to create more original content. Earlier this year, Viu announced that it will produce its first four Korean drama originals.