Jasmine strikes $560m English Premier League deal

The Thai telecom carrier Jasmine International Plc has agreed to pay as much as US$560 million for rights to broadcast English Premier League (EPL) football, seeking to attract customers to its streaming business.
The company obtained exclusive rights for live Premier League and FA (Football Association) Cup matches in Thailand, Laos and Cambodia for at least three seasons starting from 2025, according to a filing to the Stock Exchange of Thailand late Monday.
The contract can be extended to as long as six seasons if the company receives written notification from the rights holder by Dec 1, it said.
The current rights holder, TrueVisions, confirmed on Tuesday that despite submitting a competitive price, it was outbid for the rights for the 2025-28 seasons.
The company said subscribers could continue to follow Premier League matches on its service through the end of May, adding there would be no significant impact on the business plans of True Corp.
Jasmine shares on Tuesday advanced as much as 8.4% in Bangkok, the most since Sept 30. They have gained about 20% this year after two straight annual declines.
English football, with teams such as Liverpool and Arsenal, has a wide following in Southeast Asia. The rights are set to be a boon for Jasmine as it competes against regional rivals such as True.
The initial three-year rights cost $233 million and the payment will rise to $560 million for a six-year pact, the company said.
Jasmine said it would use its existing cash flow and loans from financial institutions to fund the deal, which is subject to shareholder approval.
The company has more than 600,000 customers for its internet TV platform and has been expanding its content offerings. It is also seeking to increase its foothold in Laos and Cambodia.
Jasmine said viewers would be able to watch matches primarily through the Monomax streaming service, with selected matched offered on the free-to-air channel Mono29.
The content would be distributed across all major networks and mobile operators, including the App Store (iOS), Google Play, AIS and True, to reach the broadest audience possible, it said.
Subscription fees have not been finalised but they would not exceed current levels and could be set lower, capped at 400 baht per month, it added.
The Jasmine subsidiary JAS TV Co Ltd (formerly Three BB TV Co Ltd) provides an internet TV platform to more than 600,000 customers under the service name 3BB GIGATV, holding licences issued by the National Broadcasting and Telecommunications Commission.
Another subsidiary, Jasmine Submarine Telecommunications Co Ltd, sources and aggregates content for 3BB GIGATV.