PCCW and Canal+ have announced a strategic partnership through which the French media giant will become a significant minority shareholder in PCCW’s Asian streaming service Viu. Canal+ will make a…
Canal+ will make a staggered investment of $300M in Viu, including an initial investment of $200M, resulting in a 26.1% stake. It also has an option to make a further investment and turn that stake into a controlling 51%.
“This new strategic partnership will enable the further growth of Viu, leveraging the global strength and expertise of Canal+ through various initiatives including collaboration on premium productions and content creation, expansion of global market reach for Viu, and continual user experience improvement. The partnership will allow Canal+ to take a major step in developing Asia as its next growth engine.
It produces a wide range of local-language drama series and lifestyle programming, with a focus on Thailand, Indonesia and Malaysia, and was a first mover in the acquisition of Korean content. In 2022, Viu reported $250M in revenue, representing growth of 36% year over year.
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