Salto endgame approaches as French streamer stops taking new subscribers

The end is drawing near for French streaming platform Salto. After months of uncertainty about the platform’s future, the TF1-M6-France Televisions joint venture has posted a message on its website saying that it is not taking new subscribers.

In its short life, Salto managed to build a subscriber base of 800,000 with its French-focused proposition. However tough competition from the likes of Netflix and Disney+ has prevented the service from becoming viable. The platform’s prospects were further undermined when regulators blocked the proposed merger of TF1 and M6.

TF1 and M6 revealed their intention to withdraw from Salto towards the end of 2022 – with France Televisions having previously tried to extricate itself. Some attempt has been made to find a buyer, but no sustainable solution has been found. As a result, local media are reporting that this could be the week that Salto is finally mothballed.

RTL-owned M6 referenced Salto in its 2022 financial results which were released yesterday (February 13). It said: “Launched on October 20, 2020, Salto currently gathers nearly one million subscribers but once again recorded a significant operating loss of €72.3 million in 2022 (i.e. €24.1 million for M6 share). In the context of the failure of the M6/TF1 merger project, the three partners of Salto tested possible buyers for the platform, while evaluating the cost of the liquidation of the company which amounts to €66.0 million (i.e. €22.0 million for M6 share). Thus, the total impact of Salto on the Group’s accounts reached -€46.1 million as of December 31, 2022.”