Groupe M6 Is Opening up Bedrock’s Capital to RTL Group to Create the European Leader in Streaming Technology
March 13 2020 - 3:15AM
Business Wire
Regulatory News:
M6 METROPOLE TELEVISION (Paris:MMT):
The growth in video consumption across all screens and on demand
(AVOD and SVOD) represents a genuine opportunity to strengthen the
power of TV channels and brands. These new usage patterns are based
on cutting-edge technologies that require substantial investment,
but which become strategic assets for the companies that control
them.
Since 2008, Groupe M6 has been anticipating the need for and
significance of these technologies for its business and has been
developing in-house expertise around its catch-up television
platform M6 Replay, and from 2013, around its streaming service
6play.
This technology unit, now called Bedrock and led by Jonas
Engwall, has more than 200 employees and has developed a technology
platform which is currently used by 6Play, RTL Belgium, RTL Hungary
and RTL Croatia. From June 2020, this platform will also be used by
the Salto SVOD service which is being launched by the groups TF1,
France Télévisions and M6. RTL Nederland will also use this
technology for the next version of its catch-up and SVOD services,
RTL XL and Videoland. Bedrock aims to license its technology
platform to further European broadcasters, also outside RTL
Group.
With the aim of continuing its development and pooling
investments on a European scale, Groupe M6 is opening up
Bedrock’s capital, enabling RTL Group to acquire a 50%
stake.
With this transaction, Groupe M6 and RTL Group aim to create a
European leader in streaming technology. Bedrock’s capital may
further be opened up to other shareholders.
Completion of the transaction remains subject to consultation of
employee representative bodies.
***
About Bedrock
Bedrock is a technology company specialised in the design and
development of streaming platforms. It currently has more than 200
employees across its Paris and Lyon sites and nearly 30 million
users in Europe. The company aims to double its workforce within
the next three years. Bedrock is currently led by Jonas
Engwall.
About Jonas Engwall
Jonas Engwall holds a Master in Economics and a Bachelor in
Computer Science from the University of Uppsala, Sweden. With more
than 20 years’ experience in the media and technology industry, and
a professional career spanning almost a dozen countries, Jonas
brings extensive expertise and a proven track record for leading
business growth and international expansion. In particular, he led
the launch of the RTL Group channels in India, was the founding CEO
of RTL CBS Asia – launched across 19 territories, and served as
Head of iflix Asia – rolled out in 13 countries. In 2019, Jonas
rejoined RTL Group as SVP Global Operations Management VOD.
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INVESTOR RELATIONS Éric Ghestemme +33 (0)1 41 92 59 53
/ eric.ghestemme@m6.fr
PRESS Paul Mennesson +33 (0)1 41 92 61 36
/ paul.mennesson@m6.fr
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