Thai telecoms firm Jasmine International (JAS) has acquired the rights to English football’s top-tier Premier League in Vietnam for the next five and a half seasons, expanding its exclusive league coverage in the region.
The rights to broadcast Premier League matches and highlights across Vietnam began from January 2026, covering the second half of the 2025–26 season and the full seasons of the 2026–27 to 2030–31 cycle. The total value of the acquisition is $110 million, equivalent to $20 million per season.
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JAS replaces K+, the Vietnamese pay-TV operator that had held the rights continuously since an initial deal commenced in 2010 and subsequently entered a new agreement covering the 2025-26 through 2027-28 campaigns. However, K+, which had been airing Premier League matches for the current 2025–26 season, officially ceased providing pay-TV services in Vietnam at the start of 2026, due to substantial financial losses.
The new rights build on JAS’ Premier League coverage in the region. The company previously secured a $560 million deal to exclusively broadcast the top-tier league and England’s FA Cup knockout competition in Thailand, Laos, and Cambodia for a minimum of three seasons, starting with the 2025–26 campaign.
JAS has appointed FPT Telecom, a subsidiary of Vietnamese technology company FPT Corporation, as its exclusive broadcasting partner in Vietnam. Under the partnership, the FPT Play platform will manage content delivery and consumer-facing distribution across terrestrial TV, cable, satellite, IPTV, OTT, mobile, public screenings, and social media platforms within Vietnam.
Under the sublicensing arrangement, FPT will pay JAS $26 million per season. In addition, JAS will be entitled to a 35% revenue share from FPT after the deduction of investment costs. FPT expects the project to generate at least 1.5 million new subscriber accounts in the first year.
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By GlobalDataClosure of pay-TV operator K+
K+, the brand name for Vietnam Satellite Digital Television Company (VSTV), ceased providing pay-TV services effective January 1, 2026.
The company was a joint venture between France’s Canal+ Group and state broadcaster Vietnam Television (VTV) and distributed a package of local and international channels via satellite and app on smart devices.
K+ had positioned itself as the leading sports service in Vietnam, broadcasting major competitions on an exclusive basis, such as the Premier League, AFC Champions League Elite, AFC Asian Cup, motor racing’s FIA Formula One World Championship, tennis’ Australian Open, mixed martial arts promotion Ultimate Fighting Championship (UFC), and LIV Golf.
K+ shut down because its business model became unsustainable. Years of heavy spending on exclusive sports rights and high operating costs led to accumulated losses of more than VND 5,500 billion (about $225 million) by mid-2025. At the same time, widespread piracy and illegal soccer streams undermined revenue, while competition from fast-growing streaming platforms accelerated a market shift away from K+’s satellite-based model.
By its closure on January 1, K+ had only a few hundred thousand subscribers—too few to offset costs and compete in a piracy-ridden, streaming-led converged television market.
Growth in Vietnamese Premier League media rights value
K+ launched in Vietnam on January 12, 2010, and held Premier League rights through multiple cycles, with rights values rising steadily over time:
2010–11 to 2012–13 (three seasons): $9 million total.
2013–14 to 2015–16 (three seasons): $33.5 million total (up 272% vs. prior cycle); K+ won two of three available packages.
2016–17 to 2018–19 (three seasons): $40 million total (up 19%).
2019–20 to 2021–22 (three seasons): $48.6 million total (up 22%).
2022–23 to 2024–25 (three seasons): $60 million total (up 23%).
2025–26 to 2027–28 (three seasons): Rights were secured as part of a wider Canal+ multi-territory deal; Vietnam’s share was estimated at ~ $60 million total (about $20 million per season).
Following K+’s closure, JAS acquired exclusive Premier League rights in Vietnam from January 1, 2026. JAS then struck a sublicensing agreement with FPT, reportedly priced at ~$26 million per season for exclusive rights.
Conclusion
JAS’s acquisition of Vietnam’s Premier League rights through 2030–31 marks a major shift in the market after K+’s collapse, reflecting both the escalating cost of top-tier sports content and the fragility of traditional pay-TV models under piracy and streaming disruption.
By partnering with FPT Play for nationwide multi-platform distribution—backed by a higher per-season sublicensing fee and revenue sharing—JAS is positioning the Premier League as a subscriber-growth engine in Vietnam, while signalling continued intensification of competition for premium football rights across Southeast Asia.
