French streaming platform Salto – a joint venture between TF1, M6 and France Télévisions – could be sold off or shut down in the coming months, according to local media reports.
Broadcasting rivals TF1, M6 and France Télévisions launched the streamer in October 2020 with ambitions to create a French-style Netflix, but the platform has never really taken off with French viewers.
With subscriptions set at between $7 and $13, it never drew more than one million subscribers, with current numbers believed to be around 800,000, against Netflix’s 10 million subscribers in France as of this summer.
Le Monde reported last week that the partners were holding talks over its future and that this could result in a sell-off.
Financial broadsheet Les Échos and daily newspaper Libération broke the news over the weekend that TF1 and M6 had officialized their desire to sell their shares.
Local media outlets suggested it was unlikely that France Télevisions, which is currently in the process of rationalizing its own structure and spend ing, would have the budget to acquire the platform outright.
Specialized trade press reported that pay-TV giant Canal+ could be interested in acquiring the entire service, principally for the content that is made uniquely for the platform.
It is not clear, however, whether any of the three partners would continue to provide content for the platform in the event that they were no longer involved in the venture.