The Altice France group has entered into exclusive negotiations to acquire a majority stake in the OTT platform Molotov, the two groups announced. “The discussions concern a majority stake for Altice France in Molotov alongside its founders and historical shareholders,” the groups said in a statement.
This investment by Altice France aims to give the French platform “the means to become a major player in OTT in France and abroad”. Launched in 2016, Molotov, available on computers, mobiles, tablets and TV sets, boasts more than 7 million users. The company had not hidden for a few months that it was looking for partners to accelerate its development, amid press reports that the company was running out of money to continue operations.
Molotov “will be able to rely on all of Altice’s telecoms and media assets, particularly its premium content, commercial power and international footprint, in order to pursue its development,” the statement said. “It will also offer the best digital and OTT experience on the market to SFR, RED and RMC Sport customers.”
Jean-David Blanc, co-founder and CEO of the platform, said that a deal with Altice France would support Molotov’s goal to become “the Spotify of the TV” in France and internationally. For Altice France’s divisions SFR and RMC Sport, the expertise of Molotov’s team will help improve the OTT experience for TV subscribers.
“We will develop Molotov (…) to make it a major player in digital technology, a real link between content and very high speed infrastructures”, said Alain Weill, CEO of Altice France.