DPG Media and Telenet have announced plans to launch a full streaming service for the Flemish market.
The two are establishing a new company that they expect to be up and running by this autumn. They’re conscious of consumers already turning to the international streaming services found in the Flemish market.
Their offer will combine DPG Media, whose assets include commercial channel VTM, with the local and international content of Telenet that in recent months has acquired De Vijver Media channels VIER, VIJF and ZES.
Currently, Telenet serves more than 400,000 customers with Play and Play More, two services that are currently only available to Telenet customers, while DPG Media, following the successful launch of the free platform VTM GO, has developed a state-of-the-art platform for its own paid streaming service.
The partners are also reaching out to other Flemish partners, including public broadcaster VRT.
“We have long been advocating a solid Flemish streaming service. We have always hoped to do this with local partners, as this opens up far more opportunities to successfully challenge the international players,” said Kris Vervaet, CEO DPG Media Belgium.
John Porter, CEO Telenet added: “Telenet has always believed in the power of collaboration within the local media ecosystem to face the pressure on the Flemish market from international TV players. The joint venture does not need to start from an entirely new business model, but from an existing solid customer base of more than 400,000 subscribers. That should constitute sufficient guarantee to successfully write a new chapter in Flemish media history.”
The new 50/50 partnership will now be submitted to the approval of the Competition Authorities.
Telenet has also announced full year revenues of €2,583.9 million, an increase of 2% year-on-year.