KIDO's AIRO and Yeah1 Form A&M Joint Venture for Vietnamese TV Formats

Overview

On October 6, AIRO, an entertainment and commerce company within the KIDO ecosystem, announced a partnership with Yeah1 Group to establish A&M Joint Stock Company. The new venture will produce and localize international entertainment formats for Vietnam, beginning with the Vietnamese edition of Chinese show Hello Saturday, hosted by Tran Thanh. The move matters for KIDO (HOSE: KDC) because it extends the food and consumer group into media, and for Yeah1 (HOSE: YEG) because it adds another content pipeline alongside its existing productions.

Key Facts

• AIRO and Yeah1 announced the A&M joint venture on October 6, 2025.
• A&M will operate across three segments: entertainment program production, artist commercialization, and goods distribution.
• The first announced project is “Xin Chào Thứ Bảy”, the Vietnamese version of Hello Saturday, a format from China’s Mango TV.
• Tran Thanh was named as a participant and host of the program.
• AIRO officially launched on September 29, 2025, with KIDO founder and CEO Tran Le Nguyen serving as Chairman.
• Yeah1’s existing productions include Anh Trai Vượt Ngàn Chông Gai, Chị Đẹp Đạp Gió Rẽ Sóng, and Gia Đình Haha.
• In 2026, Yeah1 established the SYE joint venture with Sony Music Entertainment for artist management and training.
• KDC closed at VND 50,700 and YEG at VND 7,180 on October 6, 2025.

What Happened

AIRO, formally Công ty Cổ phần Truyền thông Giải trí & Thương mại AIRO, said it would partner with Yeah1 Group to form Công ty Cổ phần Giải trí và Thương mại A&M. The announcement, made on October 6, came just one week after AIRO’s official launch on September 29. Tran Le Nguyen, founder and CEO of KIDO, chairs AIRO’s board.

According to the published plan, A&M will handle three main lines of business. On content, it will acquire and localize foreign entertainment formats and produce game shows, reality programs, and concerts. On talent, it will work with artists, KOLs, and KOCs for advertising, brand representation, and online selling. On commerce, goods can be routed onto the E2E platform and distribution channels tied to the KIDO ecosystem. Le Phuong Thao, Chairwoman of Yeah1 Group, which manages MangoPlus, said A&M will focus on exploiting international entertainment IP while linking content to commercial activity in Vietnam.

Market Context

KDC trades on HOSE and closed at VND 50,700 on October 6, 2025, while YEG, also on HOSE, closed at VND 7,180. KIDO is best known as a food and beverage group, and the AIRO initiative marks a widening beyond its core staples business. Yeah1 has positioned itself as one of Vietnam’s more active format producers, with a slate of music and reality shows and a separate Sony Music joint venture announced for 2026. The partnership lands as Vietnamese media companies increasingly pursue localized foreign formats and as consumer groups look to content and commerce as adjacent growth channels.

Strategic Significance

For KIDO, A&M is a test of whether a food-and-consumer balance sheet can be converted into a media and commerce platform. The venture’s commerce arm is the connective tissue: content and talent are meant to feed goods onto KIDO-linked distribution, including the E2E platform, rather than stand alone as a production house. For Yeah1, the tie-up adds a partner with consumer distribution reach and a pipeline of international IP, complementing its existing format portfolio and the Sony Music venture. The strategic question is whether localized formats can generate durable advertising and commerce revenue rather than one-off ratings spikes.

What to Watch

• Premiere date and viewership data for “Xin Chào Thứ Bảy” on Vietnamese broadcast or streaming platforms.
• Disclosure of A&M’s charter capital, ownership split, and any capital contribution by KDC or YEG.
• KIDO’s next financial statements for any consolidation or related-party disclosure tied to AIRO and A&M.
• Yeah1’s progress on the SYE joint venture with Sony Music Entertainment and its 2026 artist-management plans.
• Any additional format licensing deals or commerce tie-ins between A&M and KIDO’s distribution channels.