Europe’s leading commercial television company RTL Group has announced plans to invest €350 million into its VoD services in the next three years.
The bulk of the investment will be in content production and acquisition.
At the end of 2018, RTL Group had one million paying subscribers for its SVoD services across Europe, a 76.7 per cent increase on 2017.
“With rapidly changing consumer behaviour and the rise of global tech giants and streaming platforms, we’ve moved from a local to a global competitive landscape,” said Bert Habets, RTL Group CEO. “At the same time, international media markets are experiencing unprecedented change and consolidation. This is why 2018 saw the start of our transformation journey to foster organic growth within our portfolio, through our Total Video 2.0 strategy.”
“With this strategy we will focus on two clear priorities: building local streaming champions and strengthening our content creation. Accordingly, RTL Group will invest at least an additional €350 million to boost the expansion of our streaming services over the next three years – €300 million of which will be dedicated to content investments across all genres.”