France’s Canal+ extends stake in Asian streamer Viu to 30%

Nenek Bongkok Tiga

France’s pay-TV giant Canal+ has increased its investment in Asia-based streamer Viu to almost 30%.

The deal, which follows the French company’s deal struck last year that saw it take a 26% stake in the company, is part of a $300m staged investment plan that provides Canal+ with the option to ultimately acquire a majority (51%) stake in Viu.

Viu is best known for its Korean content offering, operating across Asia, Middle Eats and South Africa.

It claims over 66 million monthly active users and 12 million paid subscribers, with shows including Nenek Bongkok Tiga.

Media research group Omdia reported last year that Viu was leading the pack in South-Eastern Asia’s OTT video race, with a 23% market share in online video subscriptions, ahead of rivals including Disney+ Hotstar and Netflix.

PCCW-owned streaming service Viu, which first entered the regional market in 2016, cemented its position in the region with its early strategy of providing Asian and localised content to its viewers, alongside its own Viu Original series.

It offers an SVOD and AVOD model for consumers, with lower subscription fees compared to its counterparts that has assisted growth.