Groupe M6 Is Opening up Bedrock’s Capital to RTL Group to Create the European Leader in Streaming Technology

NEUILLY-SUR-SEINE, France--(BUSINESS WIRE)--Regulatory News:

M6 METROPOLE TELEVISION (Paris:MMT):

The growth in video consumption across all screens and on demand (AVOD and SVOD) represents a genuine opportunity to strengthen the power of TV channels and brands. These new usage patterns are based on cutting-edge technologies that require substantial investment, but which become strategic assets for the companies that control them.

Since 2008, Groupe M6 has been anticipating the need for and significance of these technologies for its business and has been developing in-house expertise around its catch-up television platform M6 Replay, and from 2013, around its streaming service 6play.

This technology unit, now called Bedrock and led by Jonas Engwall, has more than 200 employees and has developed a technology platform which is currently used by 6Play, RTL Belgium, RTL Hungary and RTL Croatia. From June 2020, this platform will also be used by the Salto SVOD service which is being launched by the groups TF1, France Télévisions and M6. RTL Nederland will also use this technology for the next version of its catch-up and SVOD services, RTL XL and Videoland. Bedrock aims to license its technology platform to further European broadcasters, also outside RTL Group.

With the aim of continuing its development and pooling investments on a European scale, Groupe M6 is opening up Bedrock’s capital, enabling RTL Group to acquire a 50% stake.

With this transaction, Groupe M6 and RTL Group aim to create a European leader in streaming technology. Bedrock’s capital may further be opened up to other shareholders.

Completion of the transaction remains subject to consultation of employee representative bodies.

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About Bedrock

Bedrock is a technology company specialised in the design and development of streaming platforms. It currently has more than 200 employees across its Paris and Lyon sites and nearly 30 million users in Europe. The company aims to double its workforce within the next three years. Bedrock is currently led by Jonas Engwall.

About Jonas Engwall

Jonas Engwall holds a Master in Economics and a Bachelor in Computer Science from the University of Uppsala, Sweden. With more than 20 years’ experience in the media and technology industry, and a professional career spanning almost a dozen countries, Jonas brings extensive expertise and a proven track record for leading business growth and international expansion. In particular, he led the launch of the RTL Group channels in India, was the founding CEO of RTL CBS Asia – launched across 19 territories, and served as Head of iflix Asia – rolled out in 13 countries. In 2019, Jonas rejoined RTL Group as SVP Global Operations Management VOD.