Vivendi is closing down its Studio + service aimed at young mobile viewers after racking up losses of EUR48 million in less than two years time.
Studio+ is a mobile TV service offering short form videos for a monthly subscription fee with original made-for-mobile content.
According to BFM Business, the service managed to acquire only 2,567 paying subscribers in France. The venture, which was launched in November 2016, only brought in EUR6.8 million income, resulting in a total loss of EUR48 million.
Vivendi reported a total of 5.3 million subscribers to the service, but as it now turns out, these were on the Telefonica networks in Latin America and not direct subscribers. In France, Studio+ managed an income from subscribers of only EUR77,000 in 2017.
