French Entertainment Provider to Acquire 26.1% Stake in Hong Kong OTT service Viu

The French pay-TV behemoth announced Wednesday that it is investing $300 million in a 26.1 percent stake in Hong Kong-based OTT video service Viu. Canal+ will have the option to pay an additional payment to increase its ownership to 51 percent as part of the agreement.

According to the partners, the transaction "will allow CANAL+ to take a major step in developing Asia as its next growth engine."

Viu's video service, launched in 2015 with sponsorship from Hong Kong's telecom operator PCCW, offers both advertising and subscription-supported choices in 16 Asian, Middle Eastern, and African markets. According to the corporation, it has more than 66 million monthly active users and 12 million paid members. The majority of those users are thought to be from Asia.

Viu has specialised in licencing and developing original Korean content, but the company also produces original content in Southeast Asian countries such as Thailand, Indonesia, and Malaysia. In 2022, the company recorded revenue of more than $250 million, indicating a 36 percent increase year over year.

"CANAL+ already has leading market positions in Europe and Africa," stated CANAL+ CEO Maxime Saada. "We are now excited about developing Asia as a new growth engine for the group." Our investment in Viu is a significant step towards that goal."