Spanish incumbent reportedly prepping streaming video offering in bid to extend original programming to new markets.

Telefonica is preparing to launch a subscription video-on-demand (SVoD) service in a bid to extend the reach of its growing catalogue of original programming to new markets.

The Spanish incumbent’s in-house content is currently only available on its Movistar+ platform. According to an El Pais report (in Spanish) late on Sunday, the telco is keen to monetise this content, and so is considering launching an Internet-based service in European countries that currently don’t have Movistar+, like Germany and the U.K.

Sources cited in the report said Telefonica’s service will offer low prices and unlimited access to content via tablets, smartphones, games consoles and smart TVs. It will target European markets excluding Spain. It will not be offered in Latin America.

Launching a streaming service will not only help to monetise Telefonica’s existing content, but will help fund future productions as well, the report said.

Telefonica has set aggressive targets for in-house programming, so it makes sense that it wants to monetise it effectively.

Earlier this year, the company’s Spanish arm said it will spend €70 million on original content this year. It aims to produce four original series this year, and a further 10 in 2018.