K+ 'closes down' after 16 years

The pay-TV market has received news that K+ will cease broadcasting from the beginning of 2026, ending its 16-year presence.

K+ builds its brand based on a strategy of "using the English Premier League as the main focus".

Recently, K+ sent an email to its pay-TV partners announcing the cessation of broadcasting from January 1, 2026. This announcement also included urging TV partners to pay the remaining balance of their contracts by selling the English Premier League (EPL) broadcasting rights package.

"K+ sent us an email informing us they are ceasing operations. Currently, there are not many customers left with the Premier League subscription package, and we have informed them that the broadcast of this league will stop from January 1, 2026. We have a plan to compensate customers with other channels for those who prepaid for the Premier League package," said a leader of a pay-TV company.

The news of K+'s withdrawal from the market is no longer just a rumor about a retreat or restructuring, but a decision to cease operations, closing a long chapter in Vietnam's pay-TV market.

In fact, K+'s demise was predicted long ago. Canal+ Group, the major French shareholder, has repeatedly acknowledged the unfavorable situation in Asia, especially Vietnam, due to its prolonged losses.

When revenue doesn't increase proportionally with licensing and operating costs, achieving financial balance becomes impossible.

Recent financial reports show that K+'s accumulated losses by mid-2025 had approached approximately 5,500 billion VND, resulting in deeply negative equity.

Despite maintaining revenue at 1,000 - 1,200 billion VND per year, K+ records losses of several hundred billion VND annually, a huge amount for a market where consumers' willingness to pay is limited and copyright infringement is rampant.

From a market perspective, K+'s withdrawal is not just the disappearance of a brand, but a huge void in premium sports content, especially the English Premier League, which has been associated with K+ for over a decade.

For many years, K+ built its brand based on a strategy of "using the English Premier League as the main focus." The broadcasting rights for the EPL were its core asset, the main "bait" to attract subscribers.

In the early stages, when IPTV and OTT were still in their infancy and illegal web browsing hadn't yet exploded, this strategy offered a significant advantage: fans wanting to watch English football were forced to go to K+.

However, the situation changed rapidly. The rise of OTT platforms such as MyTV,FPT Play, TV360, VieON, etc., completely altered content viewing habits.

Conversely, illegal football streaming websites have boomed. With just a phone, users can watch most matches for free, although the quality and legality are questionable.

When the difference in experience isn't significant enough, many fans choose to "not pay" instead of buying the K+ package. This directly erodes the value of the exclusive broadcasting rights model in practice.

K+ is caught in a dilemma: on one side, the ever-increasing cost of EPL broadcasting rights; on the other, the potential for recouping investment is stifled by illegal websites and limited user income.

The pressure forced K+ to maintain high subscription prices while expanding distribution through a range of cable TV, IPTV, and OTT partners to increase subscribers, but it still couldn't cover the costs.

In that context, the decision to cease broadcasting, to accept the end of the game, marks the end of a strategy that was initially correct but faltered in the face of digital transformation and changing consumer behavior regarding digital content.

PV (compiled)

Source: https://baohaiphong.vn/k-dong-cua-sau-16-nam-528770.html