The landscape of premium sports broadcasting in Vietnam has undergone a seismic shift following the collapse of the long-standing pay-TV operator K+. Thai telecommunications firm Jasmine International (JAS) has emerged as the new holder of the exclusive Premier League broadcasting rights in Vietnam for the next five and a half seasons, in a deal valued at $110 million.
A New Era for Premier League Vietnam
JAS has secured the rights effective from January 2026, covering the remainder of the 2025–26 campaign through the conclusion of the 2030–31 season. To facilitate nationwide distribution, JAS has appointed FPT Telecom (a subsidiary of FPT Corporation) as its exclusive broadcasting partner.
Under this strategic sublicensing agreement, FPT Play will manage all content delivery across terrestrial, cable, satellite, IPTV, OTT, and mobile platforms. The partnership involves a $26 million annual fee paid by FPT to JAS, plus a 35% revenue-sharing model, with FPT aiming to drive 1.5 million new subscriber sign-ups within the first year.
The Collapse of K+
The transition follows the official cessation of all pay-TV services by K+ (VSTV) on January 1, 2026. A joint venture between France’s Canal+ Group and Vietnam Television (VTV), K+ had been the Premier League’s home in Vietnam since 2010.
However, the company’s business model became unsustainable due to:
- Escalating Costs: Years of heavy investment in exclusive sports rights.
- Financial Losses: Accumulated losses exceeding $225 million by mid-2025.
- Market Disruption: Persistent challenges from illegal streaming, widespread piracy, and a consumer shift away from traditional satellite models toward agile, low-cost streaming platforms.
Escalating Rights Values in Vietnam
The market for Premier League rights in Vietnam has seen consistent, aggressive growth over the last decade, reflecting the league’s immense popularity in Southeast Asia:
2010–2013 $9 Million
2013–2016 $33.5 Million
2016–2019 $40 Million
2019–2022 $48.6 Million
2022–2025 $60 Million
2026–2031 (JAS/FPT) $110 Million (for 5.5 seasons)