Magine takes a massive hit, ends collaboration with TV4 and loses 8 channels
Dagens Industri reports that the cooperation between TV4 and Magine has ended. As of April 17 the following eight channels will be removed TV4, Seven, TV4 Film, TV4 Komedi, TV4 Guld, TV4 Sport, TV4 Fakta and TV4 Fakta XL. The number of channels available on Magine will be now reduced to 34, mostly smaller channels, since neither MTG or SBS have yet to join Magine.
The company has said that they will instead focus on the markets in Germany and Spain. Since founding the company, they’ve taken in 225M SEK in investment and acquired 100,000 users.
“Our paying users will get free Magine for a transitional period,” says Mattias Hjelmstedt, CEO and founder of Magine.
Whilst this is pretty devastating news for the company, their CEO says that Magine will now be focusing on developing a more streamlined approach in Sweden without the backing of the large networks – all whilst working on capturing the bigger German market.
“Our German service will contain all the major German TV channels. Germany is now our biggest focus”, says Mattias Hjelmstedt.
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