2023-08-12 14:32:00
Lionsgate has announced that it will exit the Latin American streaming market. Lionsgate Plus, formerly known as Starzplay, had bet on partnerships with large companies in the macro-region to bring its catalog to countries such as Brazil and Mexico, but chose to withdraw its operations and focus on other markets, such as North America and the United Kingdom.
Launched in 2019, the service will be available in the region until December 31, 2023. Jeff Hirsch, CEO of Starz, reveals that he has signed a “very favorable agreement” with a content distributor which proposed licensing its catalog for the Latin American market, although the identity of that company is still kept secret.
This means that, through another on-demand content platform, Lionsgate Plus original productions will continue to be available in Latin America. “We negotiated a very favorable deal, and this deal paved the way for the profitability we want,” said Hirsch. “Thus, we made the decision to leave.”
The decision to withdraw streaming from the Latin American market comes despite the expansion plans signed by the studio. After trying unsuccessfully to enter several countries in Europe, Hirsch now signals that the company’s current objective is to “continue to remove significant costs” from its global operations.
17 Abr
economy and market
14 Mar
In Brazil, the platform sought to spread in the national market through agreements with other entertainment giants, such as Star Plus, which offered a combo that was part of the Lionsgate catalogue. Among its most popular original titles, it is possible to highlight The Greatan Emmy-winning comedy series starring Elle Fanning and Nicholas Hoult.
The streaming catalog that leaves the Latin American market had received several additions in the month of July, including the 3rd season of The Great e The Mayfair Witches by Anne Riceseries starring Alexandra Daddario.
Streaming market in Brazil
Despite criticism of restrictive password-sharing policies, Netflix is still Brazil’s favorite (and most canceled) streaming platform. Being a pioneer in the field of on-demand content has given the entertainment giant a huge advantage over its competitors.
This, however, did not prevent the popularization of other platforms in the Brazilian market. Amazon Prime Video, for example, is second in terms of user preference, followed by Disney Plus and HBO Max. Already in fifth place, Globoplay is the Brazilian streaming that aims to expand in the segment with the integration of other services in its showcase.
Are you a Lionsgate Plus subscriber? Report your streaming experience below!
See more!
1691876157
#Lionsgate #announces #exit #Latin #America #streaming #market
