IPTV, internet and telephony operator Maxcom Telecomunicaciones from Mexico announced it will invest USD 32 million in 2016 to develop its own Over-the-Top (OTT) Subscription Video On Demand (SVOD) platform, local newspaper El Financiero reported.
Despite an unstable financial situation and a USD 1.8 million fine imposed by the Federal Telecommunications Institute (IFT) for breach of service quality, Maxcom General Director, Jose Gomez Obregon, told the Mexican newspaper that they would be launching as Mobile Virtual Network Operator (MVNO) besides the investments to create their own OTT.
Since the beginning of a restructuring process in July 2013, the company has changed its CEO three times and finances have shown weaknesses. In its earnings presentation for the first quarter of 2016, it presented revenues of USD 31 million, i.e. a drop of 13% compared to the same period of 2015. In addition, it had lost 15% of its customers in the past year.