K+ Officially Ceases Broadcasting on January 1, 2026: What Happens to Subscribers with Remaining Contracts?

According to an official announcement from Vietnam Satellite Digital Television Company (VSTV), the K+ pay-TV service will cease operations in Vietnam as of January 1, 2026. This marks the end of the joint venture’s 16-year presence in the country’s media landscape.

To protect consumer rights, VSTV has activated a refund mechanism for subscribers who have prepaid and have service periods extending beyond December 31, 2025. Affected customers must submit their refund requests through the company’s online portal by December 31, 2025, with confirmation and payment expected to be completed in January 2026.

The customer service hotline will remain operational until January 31, 2026, to address complaints and provide support. Existing set-top boxes and satellite dishes can still be used to receive free-to-air channels from Vietnam Television (VTV) and local stations after the paid service ends.

FPT Play Takes Over Premier League Broadcasting with New Pricing Strategy

As K+ exits the market, FPT Telecom has announced that FPT Play will be the sole broadcaster of the Premier League in Vietnam for five consecutive seasons, from 2026 to 2031. This deal was secured through a strategic partnership with Jasmine International Public Company Limited (JAS) and Monomax, granting FPT Play exclusive rights across all platforms, including terrestrial, cable, satellite, IPTV, internet, mobile, and public viewing.

Unlike K+’s premium pricing model, FPT Play aims to make the Premier League more accessible with a flexible pricing strategy. The company offers integrated internet and TV packages starting at just 59,000 VND/month for content services, while early-bird VVIP packages begin at 100,000 VND/month. FPT Play also promises an enhanced user experience with 4K broadcasts for select matches and new features like team personalization, live interaction, and instant replays.

Financial Pressure and Accumulated Losses

K+’s decision to withdraw comes amid a challenging financial situation after over a decade of operation. According to Canal+’s 2025 semi-annual report, the French strategic shareholder holding 49% of VSTV, the company has faced persistent difficulties in Vietnam.

As of June 30, 2025, the accumulated losses attributable to non-controlling interests (NCI) at VSTV reached -93 million Euros, equivalent to approximately 5.5 trillion VND. Despite annual revenues exceeding 1 trillion VND, high costs—primarily from expensive broadcasting rights—coupled with intense competition from OTT platforms and widespread piracy, have severely eroded profit margins, leading to this regrettable exit.