The purchase price was not disclosed, according to a statement by Splendid. Videociety will acquire maxdome’s transactional business, customer base, IP rights and current licence agreements effective October 1, 2021.
With the move, Splendid Group intends to expand its VOD business. In the 2020 financial year, the company generated revenues of €8.9 million from VOD services (TVOD and EST).
“We are registering an increasing oversaturation of streaming subscription offers in the market,” Dr Dirk Schweitzer, CEO of Splendid Medien, said in Cologne. “That’s why we now see a market opportunity to strengthen our video-on-demand portfolio with selective acquisitions. Many customers want to be able to access individual films or programmes quickly and easily without having to take out a subscription straight away. This is exactly the target group we can reach with our proposition.”
Splendid intends to continue maxdome’s VOD service under the same brand name. In future, users will benefit from a broader range of films on the basis of Splendid Group’s film library and licensing agreements.
Splendid subsidiary Videociety operates a video-on-demand platform for end customers and also offers VOD platform solutions with services for B2B customers. Among its customers is German Freenet Group with its VOD portal Freenet Video.
ProSiebenSat.1 and Discovery originally wanted to fully integrate maxdome into their streaming service Joyn and discontinue it as a stand-alone offering. With the sale to Splendid, the companies have decided to keep the well-known brand on the market.