France’s Canal+, a major pay-TV player, has increased its investment in Viu, PCCW’s pan-regional over-the-top (OTT) streaming service, to nearly 30%. This move follows Canal+’s previous acquisition of a 26% stake in Viu last year, part of a staged investment plan worth US$300m. Canal+ can potentially acquire a majority (51%) stake in Viu.
Viu is known for its vast collection of Korean content and operates in multiple regions, including Asia, the Middle East, and South Africa. It boasts over 66 million monthly active users and 12 million paid subscribers, with popular shows such as Nenek Bongkok Tiga in its lineup.
According to media research group Omdia, Viu holds a 23% share of Southeast Asia’s online video subscription market, outpacing rivals like Disney+ Hotstar and Netflix.
Since its launch in 2016, Viu has focused on providing Asian and localized content and its own Viu Original series, which has helped it establish a strong presence in the region. Last year, Viu’s advertising and subscription revenue surged significantly, with total revenue increasing by 27% and paid subscribers growing by 10% to reach 13.4 million. Its subscription revenue saw a remarkable 32% surge, thanks to subscriber growth and pricing adjustments in selected markets.
Viu’s success is further highlighted by a 15% increase in advertising revenue, a substantial user base of 62.4 million active users by the end of 2023, and soaring streaming minutes.
Canal+’s increased investment in Viu is a strategic move to tap into the growing OTT market and leverage Viu’s strong foothold in the Asian and pan-regional streaming landscape, positioning both companies for continued growth and success in the digital entertainment industry.
