French media and telecom conglomerate Vivendi’s pay-TV unit Canal+ Group has increased its stake in Asian streamer Viu to 36.8 percent, the company said on Thursday.
“After satisfaction of key business milestones, Canal+ Group has released the last installment of its $300 million staggered investment,” it explained. “A further investment, at Canal+ election, could result in an increase of Canal+’s stake in Viu to 51 percent.”
The company didn’t immediately outline what would be needed for it to make such a decision to go for a majority stake in the Hong Kong-based video streamer. But it did highlight its interest in Asia. “This investment is a renewed testimony to Canal+’s commitment to develop Asia as one of the group’s growth engines and underlines Canal+’s confidence in Viu and its team.”
Canal+ first bought into Viu, led by CEO Janice Lee, in a June 2023 deal with Hong Kong telecom powerhouse PCCW Group, taking a 26.1 percent stake. As part of that deal, Canal+ secured the option of paying an additional sum to increase its stake to a 51 percent majority.
Launched in 2015 with backing from PCCW, Viu’s video service offers both advertising and subscription-supported options in 16 territories in Asia, the Middle East and South Africa. When it unveiled the Canal+ deal last year, he company said it had more than 66 million monthly active users and 12 million paid subscribers, the bulk of which is believed to be based in Asia. Viu has specialized in licensing and producing original Korean content, but it also creates original content in Southeast Asian territories including Thailand, Indonesia and Malaysia.
Canal+ has 26.4 million subscribers worldwide, including 17.1 million in Europe, 8.1 million in Africa and 1.2 million in the Asia-Pacific region. Beyond its investment in Viu, it is also the largest shareholder in African pay-TV giant MultiChoice and in Viaplay, the Scandinavian pay-TV and streaming company. Earlier this year, it also took a stake in leading Senegalese production company Marodi TV.
