Migme up on Indian expansion
UPDATE 3.05pm: Shares in migme were firmer after the social media play announced it would expand its artist engagement program to India.
The company said it had signed seven artists to the program as a precursor to a bigger commitment in the country.
Migme has already rolled out similar programs in Indonesia, Nepal and more recently the Philippines.
Migme chief executive Steven Goh said with its population of 1.2 billion people, the company was very excited to be moving into India.
“We believe our artist engagement program will prove a successful way of growing our user base and reach in the country,” he said.
The company’s artists’ engagement program allows entertainers to create a fan base on migme and engage with them through blog posts, interviews, photos, videos and contests.
The artists share in revenue generated through the purchase of virtual gifts and other premium interactions by fans, via both the mobile and web platforms.
Shares in migme closed up five cents, or 4.76 per cent, at an all-time high of $1.10.
