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Thursday, Oct 17th

Orange Digital Ventures invests in Afrostream

Orange Digital Ventures invests in Afrostream.

Orange Digital Ventures has announced that it is participating in the funding of a subscription video on demand service (SVOD) of African, African-American and African-Caribbean films and television series called Afrostream alongside TheFamily, Cross Culture Ventures I L.P. and ACE & Company.

Afrostream's funding came from Orange Fab France and Silicon Valley based Y Combinator.

Orange says it will enable Afrostream to accelerate the development of what it describes as an original and innovative service in Europe, Africa, the Caribbean and South America.

Afrostream's unlimited SVOD streaming service is already available in France, Belgium, Switzerland, Luxembourg, Senegal and Côte d'Ivoire (www.afrostream.tv). The service features family friendly viewing and includes cartoons, concerts and documentaries, in addition to films and TV series.

Pierre Louette, deputy chief executive officer of Orange and president of Orange Digital Ventures announced plans to grow Afrostream's reach in Africa and France.

"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."

Orange also says the advantage of its presence in Africa as well as in European countries with large African diaspora populations should be useful to Afrostream and should help facilitate the SVOD development by providing its expertise in networks, distribution and payment.

Tonjé Bakang, chief executive officer of Afrostream, commented that "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 revolutionise the entertainment industry and to reach all audiences."

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