Tesco buys stake in movie streaming business

FacebooktwitterredditpinterestlinkedinmailFacebooktwitterredditpinterestlinkedinmail

Tesco has acquired a majority stake in video-on-demand pioneer blinkbox.

According to the retailer, the acquisition positions it for the next stage in the internet-driven revolution in home entertainment.

Blinkbox is the UK’s leading movie streaming service, offering titles streamed on the internet to 2m users each month. It has a catalogue of more than 9,000 titles, available to rent or buy, alongside free-to-view movies, TV shows and trailers; on PC, Mac, PS3 console, tablet devices and internet-enabled connected TVs.

Tesco has bought an 80% stake in blinkbox from Eden Ventures and Nordic Venture Partners.

Richard Brasher, Tesco UK CEO said: “Whether customers want to own the DVD, download a digital movie, stream a rental or all three, Tesco is committed to giving customers choice. We want to allow them to decide how they access entertainment content and on which devices, whether it’s on PC, TV or tablet.

“The acquisition of blinkbox, together with a range of other services currently in development, means we can link physical purchase of a product to the building of digital collections in a new and seamless way. Working with the blinkbox team and our content partners, we will bring these compelling propositions to life for our customers.”

Blinkbox CEO Michael Comish, said: “We are pleased our partnership with Tesco allows us to bring the best in entertainment from our library of over 9,000 titles to even more people across the UK. It’s a hugely exciting time, looking at how accessible entertainment is becoming for consumers. This partnership represents another step forward, bringing the leading movie streaming service together with the UK’s biggest retailer.”