German media company Freenet is aiming for rapid growth in the OTT market.
“The goal is to reach one million customers as quickly as possible,” Freenet CFO Joachim Preisig told Reuters.
Currently, around 133,000 people pay for internet TV service waipu.tv, operated by Munich-based company Exaring in which Freenet holds a majority stake.
“Over the next three to four years, we want to reach two to three million customers and an operating profit of between €60 and €70 million,” said Preisig. In order to accelerate sales, “we may have to make additional purchases,” he added.
After the acquisition of platform operator Media Broadcast, Freenet is looking for further takeover candidates in Germany. “We have enough capital to get started, but not at any price,” said Preisig.