France’s proposed Salto OTT platform, backed by public broadcaster France Télévisions, and commercial operators TF1 and M6, is set o see the trio triple their investment in the platform.
They had initially promised a combined €45 million but French business newspaper Les Echos is reporting that this is to be increased to €135 million.
Salto is due to launch for French subscribers in Q1 2020.
Investment bank Exane/BNPP commented: “The intentions to raise the investment in Salto show that in order to compete to some extent with other OTT platforms, the European broadcasters need to ramp up their own investments. While €135 million is 3x higher than the initial budget it is still a relatively low amount compared to the €350 million that RTL aims to spend and the €400 million that ProSieben combined with Discovery is aiming to spend in Joyn or even the US peers who plan to invest billions in incremental content for their respective OTT platforms.”