Shares of Discovery, the Silver Spring, Md., media company, at last check were up about 2% to $30.70. London-based Vodafone, Europe’s largest mobile and fixed network operator, was nearly 5% higher at $17.28.
The deal is expected to reach more than 100 million Vodafone TV, broadband and mobile subscribers across the U.K., Germany, Turkey, Italy, Spain, Romania, Portugal, Greece, Czech Republic, Hungary, Ireland and Iceland.
The rollouts in the markets are planned over the course of 2021 and 2022.
Discovery’s linear channels will continue to be available to Vodafone customers on TV in Germany, Italy, Spain, Romania, Portugal, Greece, Czech Republic, Hungary, Ireland and Iceland.
Beginning with the Olympic Games in Tokyo next year, Discovery+ will become the streaming Home of the Olympics in Europe, excluding Russia, with access live and on demand.
"Vodafone’s vast and deep consumer relationships will provide a powerful engine for Discovery+" in Europe," David Zaslav, Discovery's president and CEO said in a statement.
"Our hybrid agreement with Vodafone advances our broader strategy of expanding our linear distribution relationships to bring our popular content to consumers across more platforms and devices."
Discovery+ launched in the U.K. and Ireland last year, before its official global launch on Monday. The platform is set to feature more than 50 originals and 55,000 previously aired episodes from Discovery-owned channels.
Discovery's portfolio of brands includes Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, MotorTrend, Animal Planet, and Science Channel, as well as OWN: Oprah Winfrey Network in the U.S.