VEON’s Banglalink Unwraps Toffee for Content Creators

Rhea-AI Summary

VEON Ltd. announces that its Bangladeshi subsidiary, Banglalink, has launched a monetization feature on its digital entertainment platform, Toffee. This initiative allows local content creators, including artists and influencers, to earn revenue from their video content. With over 6.8 million monthly users, Toffee offers access to more than 100 national and international TV programs. The move aligns with VEON’s strategy to enhance customer engagement and promote local economic growth through digital services.

Positive

• Launch of monetization feature on Toffee allowing local content creators to earn revenue.
• Increased user engagement with over 6.8 million monthly users utilizing the platform.
• Aligns with VEON's strategy to enhance digital services and support local economies.

Negative

• None.

Leading digital entertainment platform to enable Bangladeshi artists, artisans, influencers to generate revenues through content creation

Amsterdam, 15 August, 2022: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and services, today announces its Bangladeshi operating company, Banglalink, has enabled revenue generation on its digital entertainment platform, Toffee.

Banglalink’s Toffee is a free-to-download premium digital entertainment platform, with over 100 national and international TV programmes, with over 6.8 million monthly users. The introduction of revenue earning through Toffee allows local content creators , including artists, artisans, influencers, to benefit financially from video content they produce while also aligning with VEON’s Digital Operator strategy of creating application ecosystems within local economies.

“At VEON we remain committed to our Digital Operator strategy, developing a portfolio of connected digital services that will enhance customers’ day-to-day lives,” explains Kaan Terzioglu, CEO of VEON Group. “Opening up Toffee for revenue generation gives our customers in Bangladesh the opportunity to gain financially from creating great content and sharing their creativity. This is another step in our digital operator strategy that benefits VEON through greater customer engagement, while also encourage creative ecosystem that will benefit the economy of Bangladesh.”

“As a part of VEON’s digital operator strategy, Banglalink strives to develop future-ready initiatives”, explained Erik Aas, CEO of Banglalink. “Along with expanding the fastest 4G network across the country.  We are now focusing on bringing quality digital services and enhancing them with state-of-the-art features. At Banglalink we are confident that Toffee’s monetisation facility will empower young local content creators by opening up further earning opportunities for them.”  

About VEON  
VEON is a digital operator that provides converged connectivity and digital services to over 200 million customers.  Operating across seven countries that are home to more than 8% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth.  Headquartered in Amsterdam, VEON is listed on NASDAQ and Euronext. 

For more information, visit: https://www.veon.com  

Disclaimer 
This release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, VEON’s commercial offerings in Bangladesh. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.

 

For further information please contact:

 

Marina Levina
Group Communications Director
pr@veon.com

Julian Tanner
Julian.tanner@tuvapartners.com

FAQ

What is VEON's recent initiative in Bangladesh?

VEON's Bangladeshi subsidiary, Banglalink, has launched a monetization feature on its Toffee platform for local content creators.

How many users does Toffee have?

Toffee has over 6.8 million monthly users.

What type of content can creators monetize on Toffee?

Creators can monetize video content they produce for the Toffee platform.

What is the significance of the Toffee monetization feature?

The feature empowers local content creators financially and aligns with VEON's strategy to support local economic growth.

What does VEON aim to achieve with the Toffee platform?

VEON aims to enhance customer engagement and develop a digital ecosystem that benefits local economies.