In a recent development, Nasdaq-listed loyalty and data-focused marketing platform Society Pass has introduced its digital advertising subsidiary, Thoughtful Media Group (TMG), to the Philippine market. With the theme of “The Power of Influence,” TMG unveiled its new executive team and influencer advertising business model at a media presentation held on August 17, 2023.
Established in 2010 and acquired by Society Pass in July 2022, TMG has witnessed substantial growth in a short time frame. Over the past 12 months, it has expanded its reach from Bangkok to Vietnam in late 2022, and to Indonesia in early 2023, before entering the Philippine market in Q3 2023. TMG’s workforce grew fivefold during this period, increasing from 15 professionals in July 2022 to over 75 staff at present.
As a leading digital advertising platform in Southeast Asia, TMG’s primary offering revolves around its extensive network of over 10,000 creators spanning various industries. Through this network, the company provides a range of digital advertising services, including influencer marketing, brand campaigns, social commerce, and sports marketing.
With its entry into the Philippine market, TMG will aim to cater to Filipino advertisers, merchants, and influencers, establishing its foothold in Southeast Asia’s fourth-largest economy.
The Philippine market is undergoing a significant shift in its creator economy, fueled by growing internet penetration and social media usage. According to Datareportal, the country’s internet penetration rate stood at 73.1% in early 2023, with an increase of 10 million internet users between 2022 and 2023. Additionally, Filipinos spend an average of 3 hours and 43 minutes per day on social media platforms.
INSG has projected Southeast Asia’s influencer marketing industry to reach a value of USD 2.59 billion in 2024, a notable jump from USD 638 million in 2019.
Tasked with driving sales and client onboarding in the Philippines, Billy Soo, country head of TMG Philippines, said the company’s aim is to foster genuine connections between brands and content creators.
Soo and his team have established a staff of over ten Manila-based advertising professionals within a span of five weeks, and intend to offer premium branded campaigns, multi-channel networks, sports marketing, and e-sports verticals to serve the creator and advertiser communities.
As part of the unveiling, Dennis Nguyen, founder, chairman, and CEO of Society Pass, and chairman of TMG, shared his excitement about TMG’s expansion into the Philippine market. Nguyen expressed optimism about the platform’s potential to offer high-quality advertising products and services to brand partners while providing revenue-generating opportunities for Filipino creators.
With the evolving landscape of digital advertising and influencer marketing, the introduction of TMG’s influencer advertising platform to the Philippine market adds a new player to take advantage of this emerging market.