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Report: Investment in Salto streaming service to reach €135M

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Report: Investment in Salto streaming service to reach €135M

Founders of upcoming streaming service Salto will triple their investment in the venture to about €135 million over three years, Broadband TV News reported, citing the French newspaper La Lettre A.

The investment amount is intended to cover the costs of building the platform and to acquire programs.

An additional amount of about €250 million, which will be taken out of future revenues, is also planned to be invested in programming.

France Télévisions SA, TF1 Group SA and Groupe M6, the French media companies behind Salto, earlier pledged to invest about €45 million.

The French Competition Authority approved the planned streaming venture in August. Salto is expected to launch in the first quarter of 2020.