Viu, one of the popular video streaming services in the Asian region, has now announced that it has received an injection of investment funds from a broadcasting company based in France, namely Canal+. Under this injection of funds, Canal+ obtains a stake of 26.1% for an initial investment of $200 million which can be gradually increased to $300 million.
In addition, Canal+ was also given the opportunity to increase the injection of funds to Viu which could bring the stake in the service to 51%. This investment is expected to benefit both parties already in the video content arena.
Viu itself today has over 66 million monthly active users, and 12 million paid users. In fact, in the Southeast Asian region including Malaysia, Viu is one of the popular and widely used streaming services. In 2022, Viu recorded revenue exceeding $250 million, showing a 36% year-over-year increase.
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BUSINESS & MONEY