RTL Group has acquired a 50 per cent stake in SVoD technology firm Bedrock as it looks to grow its streaming audience in Germany and the Netherlands.
Bedrock provides the technology platform for RTL’s SVoD service 6Play in France. It will also be the tech behind new French streaming service Salto, a cooperation between commercial networks TF1, France Télévisions and RTL-controlled M6.
RTL said it intends to use Bedrock technology on its OTT platform Videoland in the Netherlands, as well as its services in Belgium, Hungary and Croatia. It said it wants to make Bedrock leader in the European streaming space.
Thomas Rabe, RTL CEO, said the company is aiming to grow the number of subscribers to its streaming services in Germany and the Netherlands to between five and seven million, and wants to hit revenues of at least €500 million and to break even by 2025.
Financial details of the acquisition were not revealed.