Feb. 28, 2024

Canal+ Increases its Stake in Viu to 30%

Viu saw 27% growth in revenue in 2023, propelled by a double-digit rise in both its subscription and advertising revenue. By K Dass.

France’s Canal+ Group has recently boosted its investment in the multi-territory Asian streaming platform Viu. The group has increased its stake to 30%, reinforcing its confidence in Viu and its teams. This move also underscores Canal+'s determination to make Asia its next growth vector through a strategic partnership with PCCW. Viu, a premium streaming service, is currently present in Asia, the Middle East, and South Africa. Canal+ has already invested around $300 million in Viu and retains an option to further increase its stake to 50%.

 

In June of last year, Canal+ initially acquired a 26.1% stake in Viu for $200 million and committed to a total staggered investment of $300 million. Viu has seen impressive growth, with a 27% increase in revenue in 2023 driven by rising subscription and advertising revenue. The platform now boasts 13.4 million paid subscribers and continues to expand its reach.

 

This strategic move by Canal+ reflects the evolving landscape of streaming services and their global impact. Viu’s presence in multiple regions positions it well for further growth and innovation in the streaming industry.

How does Viu compare to other streaming services in Asia?

 

Viu, the multi-territory Asian streaming platform, has made significant strides in the competitive streaming industry.

1.   Content Library:

• Viu offers a diverse range of content, including Korean dramas, variety shows, movies, and original series. Its focus on Asian content resonates well with viewers in the region.
• Other streaming services, such as Netflix and Amazon Prime Video, also provide Asian content but have a broader international catalogue.
1. Localisation:
• Viu excels in localisation. It provides subtitles in multiple languages, making it accessible to a wider audience.
• Netflix and Amazon Prime Video also offer localised content, but Viu’s commitment to regional languages sets it apart.
2. Pricing Model:
• Viu operates on a freemium model, allowing users to access a limited library for free or subscribe for an ad-free premium experience.
• Netflix and Amazon Prime Video follow a subscription-based model with tiered pricing.
3. Regional Availability:
• Viu is available in Asia, the Middle East, and South Africa. Its focus on specific regions allows for tailored content.
• Netflix and Amazon Prime Video have a global presence, catering to audiences worldwide.
4. Original Content:
• Viu invests in local original productions, creating content that resonates with Asian viewers.
• Netflix also produces original series and films, including Asian content.
5. User Experience:
• Viu emphasises mobile-first viewing, catering to smartphone users.
• Netflix and Amazon Prime Video offer a seamless experience across devices.
6. Subscriber Base:
• Viu has 13.4 million paid subscribers, showcasing its growing popularity.
• Netflix remains a global giant with a much larger subscriber base.

Viu stands out for its localised content, regional focus, and commitment to Asian viewers, while Netflix and Amazon Prime Video offer a broader international selection. Each platform has its unique strengths, and the choice ultimately depends on individual preferences and content preferences. 

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