The Salto Shake-up
Le Dispatch
Le Dispatch offers weekly insight into France's film & TV industry, geared towards the industry's leading professionals
Hey there, this is your?weekly report from the heart of the French-speaking entertainment business in 5 minutes or less.
?? This week's Big Story: The Salto Shake-up, What's Next for the French Streamer ?
What's going on? ??
France's once hopeful answer to Netflix, Salto, is officially shutting its doors. After failing to mobilize shareholders, TF1, M6, and France Télévisions, the platform's leadership looked to potential buyers, such as the Canal+ group. Unfortunately, the French media giant wasn't satisfied, with CEO Maxime Saada stating that?"acquisition conditions were not met for our group."?
What does this mean? ??
As it stands,?Salto currently has a base of 900,000 subscribers, and €85.6M in debt to pay off.?Having fallen short of finding a prospective buyer, the platform will have to strategize around asset sales, such as program rights and subscriber database rights in order to make up for their massive miscalculations.?
Why should you care? ??
While Salto had a rough go of it from the start, the streamer did have 3 of France's top media groups in its corner. If this wasn't enough to entice France's audiences, then it's unlikely that another local streamer will find success.?With the market share of the country's Svod landscape primarily occupied by U.S. streamers, local actors must look to partnerships and agreements?instead of competitive strategies. Finally, being that Salto served as a potential client for international film & series distributors, sellers will have to look elsewhere for their French footing.?
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