Buni.tv has been acquired by TRACE TV in preparation for the french music video television network's launch of a VoD platform called TRACE Play later this year.
Launched in 2012, Buni tv was purchased from previous owners Restless Global. The VoD service was one of the first VoD platforms to focus on the African market. The new owners say it is one of the three largest VOD services on the continent, alongside Iroko TV and Nasper's Showmax.
TRACE CEO Olivier Laouchez says TRACE and Buni.tv share the same strategic vision."We believe that VoD is the future of television. We also share the same analysis that the success of any VoD service in Africa will depend on whether it can source and offer high quality original African content."
TRACE also revealed that it has secured the Pay TV and VoD rights to comedy shows Ogas At The Top (Nigeria) and The XYZ Show (Kenya), produced by Buni.tv's sister company Buni Media as part of the deal.
Marie Lora-Mungai, Buni.tv's CEO and co founder, along with film producer Tendeka Matatu, says the sale is part of an important task of adding to the number of consumers. "Critical mass is crucial for the success of any VoD service. As the African VoD market becomes increasingly competitive and sophisticated, we are thrilled to join forces with a solid and forward-thinking partner such as TRACE."
Lora-Mungai will be joining TRACE to consult on the company's content development strategy for Africa. In the beginning stages, Buni.tv will be hosted under the TRACE Play banner, although the plans are to merge both services.
Buni.tv's existing subscribers will now have access to the full TRACE Play catalogue, according to TRACE.
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