With TV advertising in decline and stark competition from the likes of Netflix and Amazon, European broadcasting giant Rtl Group is looking to significantly boost its own streaming services in its major markets.
The company, which owns London-based production and distribution powerhouse Fremantle, said this week that it would invest at least €350 million ($396 million) in expanding its streaming services over the next three years. About €300 million ($339 million) of that would be dedicated to content production across all genres, with the rest slated for the development of its technical platform.
The investment adds to the approximately €2 billion ($2.3 billion) that the company’s broadcasters already spend annually on programming. Rtl Group media holdings include broadcasting operations in Germany, France, the Netherlands, Spain, Belgium, Croatia and Hungary.
Rtl Group CEO Bert Habets said the company would not try to compete directly with Netflix and Amazon, which would remain the top two streamers. He...
The company, which owns London-based production and distribution powerhouse Fremantle, said this week that it would invest at least €350 million ($396 million) in expanding its streaming services over the next three years. About €300 million ($339 million) of that would be dedicated to content production across all genres, with the rest slated for the development of its technical platform.
The investment adds to the approximately €2 billion ($2.3 billion) that the company’s broadcasters already spend annually on programming. Rtl Group media holdings include broadcasting operations in Germany, France, the Netherlands, Spain, Belgium, Croatia and Hungary.
Rtl Group CEO Bert Habets said the company would not try to compete directly with Netflix and Amazon, which would remain the top two streamers. He...
- 3/15/2019
- by Ed Meza
- Variety Film + TV
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