17LIVE Group Limited ("17LIVE") and mm2 Asia Limited ("mm2") have signed a Memorandum of Understanding to strengthen and amplify entertainment offerings and production capabilities across Southeast Asia. The MOU seeks to enhance collaboration and cooperation between 17LIVE, the top pure-play live streaming platform (by revenue) in Japan and Taiwan, and mm2, one of the region's leading media and entertainment companies, in entertainment marketing and production-related activities in areas such as marketing of movies, collaboration between live streamers and mm2 movie projects as well as the production of long-form animation content leveraging 17LIVE's proprietary virtual liver ("VLIVER") intellectual property. Through the sharing of strategic insights and combined expertise, 17LIVE and mm2 will collaborate to harness respective competitive skill sets in the entertainment industry to bring about new content and offerings to audiences across Southeast Asia.

The partnership with mm2, the Singapore-listed company behind many regional box office successes, will enable 17LIVE to further enhance its live streamer reward incentives, through the exploration of live streamer collaboration on upcoming production projects. Further, mm2 will gain access to a global talent pool, whilst 17LIVE streamers will be able to further their aspirations as they engage with a wider audience. The partnership will provide additional platforms for 17LIVE to expand its offline streamer events, which have generated 100,000s in attendees across Taiwan and Japan to the region, whilst harnessing marketing synergies across both networks.

The MOU will see parties cooperating in various ways including but not limited to a view to form a joint venture of a business unit focused on delivering high-quality live stream content via a platform co-owned by both companies.