Orange Digital Ventures is taking a prime role in the funding of Afrostream, a subscription video-on-demand (SVOD) service of African, African-American and African-Caribbean films and TV series.
The SVOD streaming service is already available on all connected screens in France, Belgium, Switzerland, Luxembourg, Senegal and Côte d'Ivoire. It features programming for the entire family and includes cartoons, concerts and documentaries, in addition to films and TV series.
Working with the likes of TheFamily, Cross Culture Ventures I LP and ACE & Company, Orange believes that it can accelerate the development of its original and innovative service in Europe, Africa, the Caribbean and South America. Orange wishes to collaborate with the start-up to facilitate Afrostream's development by providing its expertise in networks, distribution and payment. Afrostream has already been supported by Orange Fab France and Y Combinator, a seed accelerator based in Silicon Valley.
"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," said Pierre Louette, deputy CEO of Orange and president of Orange Digital Ventures. "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."
"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," added Afrostream CEO Tonjé Bakang. "This new alliance will enable us to revolutionize the entertainment industry and to reach all audiences."
