Hong Kong’s streaming platform Viu is considering an expansion across Asia and content collaboration with Canal+. The partnership could lead to Canal+ investing up to $300 million, enhancing Viu’s distribution and adapting Canal+’s content for the Asian market, amidst growing competition and demand for Asian content in the streaming industry.
4 August 2023 – Hong Kong-based streaming platform Viu, owned by Richard Li’s business conglomerate, is contemplating an expansion across Asia and premium content creation through a strategic collaboration with French broadcaster Canal+. The partnership envisions potential investments of up to $300 million from Canal+ and aims to enhance Viu’s distribution networks in Asia and Europe, potentially adapting Canal+’s renowned content for the Asian market.
The collaboration also offers opportunities for adapting Canal+’s popular content for Asian audiences, while Viu’s strategic expansion aligns with the trend of global streaming platforms seeking growth in Asia as Western markets saturate. Southeast Asia, with its burgeoning affluent population of 675 million, is especially attractive for streaming services, expected to reach a $3.2 billion market value in 2023, predicted to grow to $5 billion by 2028.
Viu’s partnership with Canal+ also marks Canal+’s broader footprint expansion in Asia beyond its existing presence in Vietnam and Myanmar. This strategic alliance positions both companies to tap into the burgeoning demand for Asian content and accelerate their growth trajectory. – source: Bloomberg