Sony takes over 5% of the Italian video platform Chili

Other major Hollywood companies such as Paramount Pictures, Viacom and Warner Bros Entertainment participate in this platform.

Sony Pictures Entertainment has acquired a minority stake in Chili, an Italian online video platform whose investors include some of the largest Hollywood film studios such as Paramount Pictures, Viacom and Warner Bros Entertainment. The shareholders are completed by Antares Private Equity, InvestinChili, Negentropy Capital Partners, Tony Miranz and Ferruccio Ferrara.

The Japanese multinational has acquired 5% of the shares for around 3 million euros. The current value of the platform is around 65 million euros and it is estimated that this year it will generate sales of around 10 million euros.

After its success in Italy, Chili has extended its activity to the United Kingdom, Poland, Germany and Austria.
Italy's television sector will generate revenues of around €8 billion this year, representing growth of 5% compared to 2015, according to ITMedia Consulting.

The Italian company was founded in 2012 by Giorgio Tacchia, Alessandro Schintu, Stefano Flamia and Giano Biagni. Chili's business model, which offers video streaming and downloads on smart TVs, Blu-Ray players, PCs, tablets and smartphones, is based on not imposing monthly fees or activation costs.