France's Canal+ Group has increased its stake in multi-territory Asian streaming platform Viu to 30%. The additional investment reflects Canal+'s confidence in Viu and its teams, as well as its commitment to making Asia its next growth market through a strategic partnership with PCCW. Canal+ now holds an option to raise its stake to 50%, with its total investment in Viu reaching $300 million.
Viu, a premium streaming service available in Asia, the Middle East, and South Africa, has shown significant growth. In 2023, Viu experienced a 27% increase in revenue, driven by a rise in both subscription and advertising revenue. The platform's paid subscribers grew by 10% to 13.4 million, leading to a 32% surge in subscription revenue. Viu's advertising revenue also saw a 15% increase, with a total subscriber base of 62.4 million by the end of 2023.
