GMM Grammy Plc, the country's largest entertainment firm, has launched its new virtual networking platform in collaboration with IT provider GDC to cash in on the proliferation of online advertising.
Mr Krij says Grammy eyes online revenue.
Called GWorld, it is a online network game for people advertised with the "Live Another Life" slogan, similar to the US networking platform Second Life. Users can create a virtual world to represent themselves, socialise with other residents and meet Grammy's artists from pop, rock to folk.
GDC managing director Surasak Areesawangkit said Grammy invested 30 million baht to develop the virtual platform, which will strengthen the bond between Grammy and fans in a technologically advanced world.
This online platform combines popular Grammy content such as music, movies, TV series and singing competitions. It looks like a combination of Facebook and the life simulation video game series SimCity. But GWorld offers real-time interaction that other social networks do not have.
GWorld players can create their own avatar and meet friends with similar preferences and favourite artists from all record labels. There are special entertainment lands, such as GTH studio, Exact Universe and Music Town.
The virtual world platform aims to reach 1 million members within three months of launching, as it is targeting Grammy's existing fan base.
"We are confident GWorld will be attractive for a new generation of people because it follows the global trend of social media, reflecting a reincarnation of the Second Life and Facebook," said Mr Surasak.
Virtual reality is a platform for tomorrow and has the potential to change the way people work, play and communicate, he said.
"In this virtual world, we'll meet known or unknown people in an environment our mind wants to concoct. The software will help interpret our thoughts and then build virtual environments to suit our taste," he said.
Grammy expects to break even from GWorld within two years, with 60% of revenue coming from sponsors and 40% from users purchasing special items in the game.
The online gaming market is expected to grow 5-10% to 4 billion baht this year, of which 95% will be shared by foreign gaming developers and 5% local developers.
Krij Thomas, Grammy's CEO for music business, said this was another method to capitalise on the proliferation of online advertising, as the Digital Advertising Association of Thailand predicts the industry will grow by 38% to 5.8 billion baht this year.
Revenue generation from digital TV still faces regulatory uncertainty, so Grammy is hopeful this channel can fill the advertising void.