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It looks like the end of the road for Salto, a French streamer backed by the country’s major broadcasters.
Media outlets in France are reporting the troubled SVOD service – a joint venture between TF1, M6 and France Télévisions – will be shut down on Friday. The two-year-old streamer has failed to catch on with audiences and its subscriber base lags behind rivals like Netflix.
Salto’s future has been in the balance since November, when it emerged it could be sold or discontinued.
The latter option appears to have won out, with France Television CEO Delphine Arnott deciding to implement the company’s “cessation of activities” and “dissolution” at an extraordinary committee meeting on Friday.
A report by local media site Puremedia claimed that a Spanish company called Agile had sought a takeover but could not reach an agreement with shareholders.
The report claims that once the company is dissolved, its platform and technical assets could be sold to another company, with 800,000 of its subscribers moving to other streamers. Amazon and Canal+ have been linked with an agreement in this scenario. If it doesn’t, Salto will hardly stop.
Salto was launched in October 2020 as a broadcaster-backed alternative to Netflix, but behind-the-scenes drama and a lack of customer appetite have hampered its chances of properly establishing itself.
Its two parents, TF1 Group and RTL-owned M6, had failed in an attempt to merge their broadcasting businesses and in November it was revealed that they had parted ways with the service’s supervisory board. He left France Television on his own.
Puremedias reported that “several dozen” staff have left Salto in the past six months.
KristenBellTattoos.com has contacted Salto’s representatives for comment.
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