Grocery giant Tesco is hoping to take a slice of the “internet-driven revolution in home entertainment” by acquiring a majority stake in an online movie streaming service.
Tesco has acquired an 80% stake in Blinkbox, which streams film and TV to two million users each month. It offers more than 9,000 titles to rent or buy, as well as free-to-view titles over the internet.
The acquisition is another example of Tesco continuing its march into non-food categories. The grocer already sells physical copies of CDs, DVDs and games in store and online.
Tesco UK boss Richard Brasher said: “Whether customers want to own the DVD, download a digital movie, stream a rental or all three, Tesco is committed to giving customers choice.
The acquisition of blinkbox, together with a range of other services currently in development, means we can link physical purchase of a product to the building of digital collections in a new and seamless way.
“Working with the blinkbox team and our content partners, we will bring these compelling propositions to life for our customers.”
Blinkbox chief executive Michael Comish said, “We are pleased that our partnership with Tesco allows us to bring the best in entertainment to even more people across the UK.
“It’s a hugely exciting time, looking at how accessible entertainment is becoming for consumers. This partnership represents another step forward, bringing the leading movie streaming service together with the UK’s biggest retailer.”
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