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Sony Pictures Entertainment has acquired 5 per cent of Milan-based VoD platform Chili for €3 million, according to a report by Italian news agency Adnkronos.
Sony thus becomes the third US majors to become a shareholder of the Italian VoD platform after Warner Bros Pictures and Paramount/Viacom.
After launching in Italy in 2012, the platform that delivers streaming movies and TV series is now also present in the UK, Poland, Germany and Austria.
Chili’s main attraction is that it provides movies released in cinemas fairly recently: on average a film released in theatres in September is available on the platform in December.
The business model is pay per use, with movies charged at €3.
People familiar with the matter told Bloomberg that Chili has an enterprise value of about €65 million and should generate sales of about €10 million this year.
In a related development, Vodafone Italia has announced that its Vodafone TV platform will include content from Chili TV (8 movies, including 2 premieres).