Can local streaming services compete with the likes of Netflix, Disney+, HBO Max and Canal+ in Central and Eastern Europe?
This is a question particularly relevant to the markets served by Central European Media Enterprises (CME), one of the pioneers of commercial broadcasting, and indeed SVOD, in the region. It launched its on demand service Voyo in the Czech Republic in March 2011 and subsequently rolled it out to five other countries by the end of the year.
It also takes on even more relevance given that Canal+ has just launched a streaming service in the Czech Republic and Slovakia.
Although much was initially made of Voyo, it was arguably way ahead of its time, with most viewers unprepared to pay for video content. As a result, its subscriber figures remained relatively low and the service made little progress. That is, of course, until the appearance of international streaming services in the region and – just as importantly – acquisition of CME by the Czech Republic’s PPF Group.
CME’s new owners have invested heavily in Voyo and the results have been particularly evident in the Czech Republic and Slovakia, where the service now has a combined total over 500,000 paying subscribers. This is up from 350,000 a year ago and over 400,000 in October 2022 and placed it ahead of Netflix and HBO Max in the two countries.
The 500,000 figure now also makes CME’s target of attaining 1 million subscribers to Voyo in the Czech Republic and Slovakia by 2025 look realistic.
Although less has been written about Voyo’s progress in other CME markets, it is believed to have around 300,000 subscribers in Romania and 150,000 in Slovenia, with no figure available for Bulgaria. The service is not as yet offered in Croatia, where PPF Group completed the acquisition RTL’s operation in June last year.
Looking to the future, Voyo and other services that focus on local content will undoubtedly have an increasingly important role to play in Central and Eastern Europe’s on demand sector.
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