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TRENDING
June 24, 2024
Canal+ Group Increases Stake in Viu to 36.8%
Canal+ says this investment “is a renewed testimony to [its] commitment to develop Asia as one of the Group’s growth engine and underlines Canal+’s confidence in Viu and its team”. By: K Dass.
France - France’s Canal+ Group has
raised its stake in Viu, the Southeast Asian streaming service, to 36.8%. This
move follows a strategic partnership with PCCW Group, announced in June 2023.
Canal+ has invested $300 million in Viu, demonstrating its commitment to
developing Asia as a growth engine. The last installment of this investment
solidifies Canal+'s confidence in Viu and its team. There’s potential for
further investment, which could result in Canal+ holding a majority stake of
51%.
A subsidiary of Vivendi, Canal+ Group is a global
content creator and distributor with a presence in over 50 countries. It
invests €3.5 billion annually in content, including sports, films, series, and
entertainment.
Canal+ Group offers over 2,000 channels and acts as an
aggregator for streaming services like Netflix, Disney+, and Paramount+.
Viu is a leading pan-regional OTT video streaming
service available in 16 markets across Asia, the Middle East, and South Africa.
It boasts over 62 million monthly active users and 13 million paid subscribers.
Viu consistently ranks among the top video streaming
platforms in terms of users and streaming minutes in Southeast Asia. This
increased stake positions Canal+ Group as a key player in the Asian streaming
landscape, emphasising its commitment to the region’s entertainment industry.
