BERLIN (Reuters) - German independent telecoms provider Freenet plans to ramp up its internet TV offering to challenge Netflix and Apple, Chief Financial Officer Joachim Preisig told Reuters.
- “Our goal is to reach a million customers as quickly as possible,” Preisig said in an interview.
- Freenet’s waipu.tv product, already available via the Amazon Fire Stick remote, has around 133,000 users.
- “In the next three to four years we want to reach between 2 and 3 million customers and an operating profit of between 60 and 70 million euros,” Preisig said.
- Freenet, a constituent of the TecDax index, has enough capital for acquisitions “but not at any price”, he said.
- He said the proposed takeover by Vodafone of Liberty Global’s German cable provider Unitymedia “may be good for competition and good for us”.
- Regulators may require the merged entity to open network access to third parties.
- Preisig said he sees Freenet’s 2018 revenue flat at around 3.5 billion euros (3 billion pounds) and core profit increasing slightly.
Reporting by Nadine Schimroszik; writing by Douglas Busvine; editing by Jason Neely