XOX Media finalises joint venture with DGB Networks to deploy smart vending machines

XOX Media Sdn Bhd today finalised a Joint Venture Agreement with DGB Networks Sdn Bhd in a 50/50 net profit sharing partnership for the media management and advertising platform that will result from the national deployment of DGB’s next generation AI Vending Machines.

DGB Networks Sdn Bhd is intending to deploy a mass market, ownership based model for their smart vending machines. DGB Executive Director Nicholas Wong said, ” The smart vending machine industry has surpassed 11 billion USD globally in 2017 and is expected to grow double digits every year, as more and more people adopt new purchasing habits. The adoption rate has ballooned in Japan and in Europe, and it is a matter of time before it becomes a global phenomenon”.

Smart vending machines apply internal digitisation to manage inventory tracking, surveillance and security, digital touchscreens for interaction with consumers and provide distribution of sundry items in areas where normal kiosks and shops cannot penetrate.

DGB’s smart vending machines come with a 55 inch LED Touchscreen, which will create an extensive advertising and media distribution network, which both the companies intend to monetise.

“We are pleased to be in partnership with XOX, who can provide connectivity, media
content and talent to assist in managing and growing this revenue stream,” Wong
continued.

XOX’s Executive Director Roy Ho said, “This deployment of smart vending machines on our end is a logical move for us to increase our marketing footprint, by having ownership of our own network of machines. However, it makes sense to be part of a bigger picture in terms of the advertising network, as we seek to derive additional revenue streams that complement our 2 million plus subscribers network”.

XOX intends to deploy up to 400 of their own vending machines, and DGB has set a target of up to 1000 machines of their own in the next 24 months.

These machines will also be available to be leased or owned by third parties, but the media platform will be owned and operated by the Joint Venture, with advertising revenue shared to the machine owners.

“We are delighted to be part of a joint venture that recognises the potential of an entirely new advertising medium, especially in this digital age where content has become a multi billion dollar business,” Wong concluded.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Bank Muamalat Approved 83% SME Payment Assistance Applications

With Covid-19 surge currently being experienced by the country seeing no sign of abating, many SME's who were already struggling during MCO...

Weekend Golf Getaway in Horizon Hills and Ponderosa

With Covid-19 looming, overseas travel is far and beyond anyone's wishes at the moment, but for frequent travelers keeping oneself locked up...

Coach Inspired By NYC Skyline

This holiday, Coach is updating its seasonal collection with the joyful release of its Coach 2020 Holiday Collection – the designs are...

Maxis Makes Top Management Changes After CTIO Departs

Maxis is seeing major changes in its top management, starting with the departure of its Chief Technology and Information Officer (CTIO), Morten...

Preparing for post-pandemic opportunities

Businesses in Malaysia must begin planning and preparing now to be able to leverage the opportunities that come with the eventual post-pandemic...

Must read

4 reasons why customer experience is the key to success

Vincent Tang, Regional Vice President, Asia, Epicor "Customer service" and "customer experience" are often used interchangeably. But there's a...

Deloitte report finds Malaysia among regional leaders in digital life adoption

An extensive survey conducted by Deloitte across age groups in eight countries in South and Southeast Asia showed that consumers aged between...

Malaysia needs to brand its startup ecosystem as one of world’s best, says KJ

Khairy Jamaluddin, Minister of Science, Technology and Innovation, said the country’s entrepreneurship ecosystem was on par with the world’s best, but Malaysia...

How today’s technology is key to industrial and manufacturing sector business continuity in a post-Covid-19 world

By  Dr. Ravi Gopinath, Chief Product Officer AVEVA , How the world does business was changing before the outbreak...