Capital injection for filmin, the leading Spanish digital distribution provider
by Sergio Ríos Pérez
- French firms Metropolitan and Le Meilleur du Cinéma have acquired 35% of the Spanish VoD platform’s shares
The filmin VoD platform, a pioneer within the sector in Spain, has announced an increase of capital as a result of the investment undertaken by two French companies: distributor and producer Metropolitan, and Le Meilleur du Cinéma, which owns the UniversCiné France online film platform. Together, the two companies have bought 35% of the Spanish provider’s shares.
The investment made by the two firms, which filmin’s CEO, Juan Carlos Tous, has described as a “vote of confidence”, allows the platform to maintain its position at the very forefront of this sector in Spain. Tous added that the capital injection constitutes a strengthening of the “commitment to innovation, quality and the editorial work that is carried out at the company”, at a time when a period of “key international expansion” is getting under way.
Meanwhile, Jean-Yves Bloch, Tous’ counterpart at Le Meilleur du Cinéma, explained that we are experiencing “a crucial time for online cinema in Europe, made up predominantly of independent services that are developing their business activities in an increasingly competitive environment. We believe there must be a common European offering dedicated to cinema lovers, a platform that can succeed in engaging consumers all over Europe with a unique, highly curated and editorialised offer of European and independent films.”
By investing in filmin, which was founded in 2007 by Tous together with José Antonio de Luna and Jaume Ripoll, Metropolitan and Le Meilleur du Cinéma are getting behind a project that currently sees the involvement of Spanish producers and distributors such as El Deseo, Avalon Distribución, Golem Distribución, Wanda Films, Vértigo Films, Tornasol Producciones, Versus Entertainment and Alta Films.
Furthermore, it is interesting to note that Le Meilleur du Cinéma and filmin are founding members of the EuroVoD network, which includes the companies Flimmit in Austria, leKino in Switzerland, Volta in Ireland and Universciné in Belgium, among others.
(Translated from Spanish)