Telefónica reportedly fancies launching its own video streaming service

A report from Spain asserts that telco group Telefónica is looking at expanding the distribution of its Movistar+ pay-TV platform to other European countries.

The scoop comes courtesy of Spanish broadsheet El Pais, which says Telefónica wants to convert Movistar+ into a Netflix-style streaming service that it can offer thought the standard online streaming model. The report claims that the plans are restricted to other European markets for now, as opposed to Latin America where Telefónica also has a strong presence.

Movistar+ was formed from a combination of Telefónica’s Movistar TV and Spanish satellite broadcasting platform Canal+ two years ago. It’s a premium video content service currently only available to Spanish consumers but the breadth of content is apparently considered to be broad enough to appeal elsewhere.

There is, of course, Spanish football, which is likely to appeal internationally, but it remains to be seen how much demand there will be for Spanish-language content in places like the UK. Regardless this is the latest example of the strong underlying trend of telcos seeking to create differentiation and new revenue streams via original content.