Videociety, a subsidiary of Germany media company Splendid Medien, has reached an agreement with Joyn, the ProSiebenSat.1 and Discovery joint venture, to acquire its maxdome VoD store.
With the takeover, effective from October 1st, the Splendid Group says it intends to further expand its VoD business. Financial terms were not disclosed.
“We are seeing an increasing oversaturation of streaming subscription offers on the market,” commented Dr. Dirk Schweitzer, CEO of Splendid Medien AG. “That is why we now see a market opportunity to strengthen our video-on-demand portfolio with selective acquisitions. Many customers want to be able to access individual films or programmes quickly and easily without having to take out a subscription right away. We can reach exactly this target group with our offering. ”
The Splendid Group will continue to operate maxdome under the same brand name.
Videociety operates a VoD platform for end customers and also offers VoD platform solutions.