An additional investment, at Canal+’s discretion, could elevate its ownership stake in Viu to a majority of 51%.
Canal+ Group has increased its stake in the Southeast Asian streamer Viu to 36.8%. This move aligns with the terms of the strategic partnership with Viu’s owner, PCCW Group, announced on June 21, 2023, and follows the achievement of key business milestones.
This marks the second time Canal+ has increased its share in Viu, releasing the final instalment of its $300m staggered investment. Initially, Canal+ invested $200m for a 26.1% stake, indicating it likely paid $100m for the additional 10.7%. Canal+ retains the option to further increase its stake in Viu to 51% in the future.
“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,” the company said.
Viu currently operates in 16 markets across Asia, the Middle East, and South Africa, boasting over 62m active monthly users and 13m paying subscribers as of December 2023. The platform recorded revenues of $314m last year, reflecting a 23% year-over-year growth. Viu’s original productions originate from Korea, Indonesia, Thailand, Malaysia, the Philippines, Hong Kong, and China.
Vivendi-owned Canal+ has 26.4m subscribers globally, including 17.1m in Europe, 8.1m in Africa, and 1.2m in the Asia-Pacific region. Beyond its investment in Viu, Canal+ is also the largest shareholder in African pay-TV operator MultiChoice and Scandinavian pay-TV and streaming company Viaplay.
