MANILA, PHILIPPINES — Society Pass Incorporated (“SoPa”), Southeast Asia (SEA)’s next-generation, data-driven, loyalty, fintech, and ecommerce ecosystem, announced the official launch of its digital advertising platform, Thoughtful Media Group Inc (TMG), in the Philippine market. With the theme of “The Power of Influencel,” TMG introduced its new Manila-based executive team and its disruptive influencer advertising business model at a media presentation on August 17, 2023.
Established in 2010 and acquired by SoPa in 2022, TMG’s growth trajectory has been impressive. In just 12 months, TMG has grown from operating exclusively in its headquarters in Bangkok, Thailand, to expanding to Vietnam in Q4 2022, to Indonesia in Q1 2023, and now to the Philippines in Q3 2023. In addition, TMG’s employee count has increased from just 15 professionals in July 2022 to over 75 team members today.
With an influencer network of more than 10,000 talented creators, an integrated roster of digital advertising products and services including influencer marketing and brand campaigns, social commerce, and sports marketing, and 13 years of experience serving more than 100 brands, TMG’s market entry into the Philippines market offers a significant value proposition to advertisers, merchants, and influencers in SEA’s fourth largest economy. Well positioned to benefit from Philippines’ forecasted soaring digital advertising revenues over the next decade as increasingly more consumers make direct purchases on social media platforms, TMG collaborates with social media platforms, advertisers, and influencers to develop the entire creator economy in the Philippines.
Mr. Dennis Nguyen, SoPa Founder/Chairman/CEO and Chairman of TMG, stated, “We are very pleased to bring the Philippines market into the TMG ecosystem. TMG’s disruptive advertising platform, combining over 10,000 talented creators, market-leading design/branding capabilities, and influencer advertising-focused social commerce services, will generate massive storytelling capabilities and revenue generation opportunities for local, regional, and international advertisers seeking to market in the Philippines. By leveraging our local knowledge of market trends from other offices in Thailand, Vietnam, and Indonesia, TMG provides international quality advertising products and services for our brand partners as well as significant revenue-generating opportunities for Philippines creators.”
Dennis continued, “I am very excited to hire Billy Soo to head our TMG Philippines operations. Billy brings a wealth of experience in gaming and advertising from his time at Gushcloud International, Nixgen Entertainment, and Powerplay Inc. I look forward to seeing Billy and his team create the most unique and powerful advertising platform here in the Philippines.”
Although currently at a nascent stage, the Philippines’ creator economy is experiencing a dynamic surge, driven by a tech-savvy population and widespread internet access. According to Datareportal, Philippines’s internet penetration rate stood at 73.1% of the total population at the start of 2023 with the number of internet users increasing by 10 million between 2022 and 2023. Furthermore, Filipinos spend a combined 3 hours and 43 minutes a day on social media. INSG forecasts the value of SEA’s influencer marketing industry to reach $ 2.59 billion in 2024, up from $ 638 million in 2019 alone.
Responsible for driving sales and onboarding Philippines clients onto TMG’s regional digital advertising platform, Mr. Billy Soo, Country Head of Thoughtful Media Group Philippines, commented, “Bonding through the power of influence, we want to create a genuine connection for brands and content creators, tapping onto TMG’s broad advertising network and extensive ecosystem to open new doors towards more business opportunities, capitalizing on digital-first and fully integrated advertising networks. Mr. Nguyen hired me to turbocharge TMG’s expansion here in the land of the Kabayan. In just five weeks’ time, we have already built a staff of 10+ Manila-based advertising professionals. TMG Philippines will offer premium branded campaigns, MCN, sports marketing, and e-sports verticals and we look forward to serving the creator and advertiser communities”.
