Orange Digital Ventures invests in Afrostream on-demand video services

By mahlokoane percy ngwato

Stay Connected! Follow @AfricaBizReview and @MrNLon on Twitter. Like our Facebook Page.

Orange Digital Ventures has announced that it will be helping to fund Afrostream, a subscription video on demand service (SVOD) of African, African-American and African-Caribbean films and television series.

Through its corporate fund, Orange will accelerate the development of its original and innovative service in Europe, Africa, the Caribbean and South America. Afrostream’s unlimited SVOD streaming service is already available on all connected screens in France, Belgium, Switzerland, Luxembourg, Senegal and Côte d’Ivoire.

RELATED: BBC to launch Africa Business TV Show

Leveraging of its presence in Africa and in European countries with large African diaspora populations, Orange is seeking to collaborate with the start-up to facilitate Afrostream’s development by providing its expertise in networks, distribution and payment.

Pierre Louette, Deputy CEO of Orange and President of Orange Digital Ventures, said: “This investment is part of ODV’s ambition to finance services that are able to address different geographical areas in which Orange is present. It will enable us to develop the video-on-demand market, particularly in Africa. It will also enable us to enrich the content we already offer to our customers in France, as Afrostream should be launched on Orange TV by next summer.”

Tonjé Bakang, CEO of Afrostream, commented said: “The future of television is mobile. With this strategic investment by Orange, Afrostream now brings together the best of the mobile internet and the best of African content. This new alliance will enable us to revolutionize the entertainment industry and to reach all audiences.”

RELATED: Microsoft announces new TV white space projects for Ghana

Orange Digital Ventures selects and funds young start-ups in the first stages of their development. With a budget of 20 million euros in its first year, Orange Digital Ventures invests through minority equity positions.  

Orange is one of the world’s leading telecommunications operators with sales of 39 billion euros in 2014 and has 154,000 employees worldwide. Present in 29 countries, the Group has served 248 million customers worldwide.

Read the October Issue of African Business Review. 

Share

Featured Articles

Musk’s multibillion hostile Twitter takeover – the timeline

As billionaire entrepreneur Elon Musk buys Twitter for US$44bn, we draw up a timeline, from the buying of shares to the critical tweets and unsolicited bid

Sustainable moves businesses can make to win customers, IBM

With half of consumers saying environmental sustainability is more important today than a year ago, businesses should up their eco action, says IBM report

Banks and consultancies top workplaces to grow career in UK

Financial and professional services firms rank highest in LinkedIn Top 25 best workplaces list – from Barclays, Lloyds and HSBC, to PwC, Deloitte and EY

Top 10 women in technology in Europe

Leadership & Strategy

The value of ESG links sustainability to business returns

Sustainability

Top 10 European football clubs by revenue 2022 – Deloitte

Corporate Finance