Japan’s U-Next to Absorb Streaming Service Peer Paravi

TOKYO (Jiji Press) — Japanese video streaming service provider U-Next Co. said Friday that it will absorb Premium Platform Japan Inc., which runs the Paravi video streaming service, at the end of March.

The merger will create the biggest Japanese provider of a paid video streaming service. In the Japanese market, however, the merged provider will be second to top player Netflix Inc. of the United States. The combined sales of the U-Next and Paravi services exceed ¥80 billion, with paid subscribers totaling over 3.7 million.