LaLiga club Real Madrid is said to be seeking €8m ($9.4m) from the ‘Spain, Audiovisual Hub for Europe’ plan to help finance efforts to turn its television channel into an OTT platform.
The government-backed plan aims to reinforce the strengths of Spanish audiovisual production and increase the country’s attractiveness as a destination for foreign investment in the sector.
It has now emerged that Real Madrid recently submitted an expression of interest to be eligible for funding through the initiative.
According to the Europa Press news agency, the club has plans for a ‘Real Madrid Digital Factory’ OTT platform that would feature on-demand and live streaming content.
The platform, which would look to revolutionise the club’s linear Real Madrid TV channel, would be distributed on mobile, web and smart TV devices. The platform would serve as an exclusive dedicated content studio and would utilise artificial intelligence and cloud technology.
Last month, Real Madrid partnered with US-based entertainment company Cinedigm to create a branded sports streaming channel in North America. Real Madrid TV will feature up to three matches per week on delay, plus classic programming, exclusive club insight, breaking news, and more.
More than 8,000 hours of content will be made available annually, including live press conferences, exclusive interviews, live training sessions, classic matches, magazine shows, Real Madrid news programming, and special features. SportsBusiness