Paravi
U-Next (ユーネクスト, Yū-Nekusuto; often stylized as U-NEXT) is a Japanese over-the-top streaming platform. It primarily owned by U-Next Holdings, with TBS Holdings and Hakuhodo DY Media Partners serving as minority shareholders.
Originally launched in 2007 as GyaO Next, the service has grown into one of the Japan's leading streaming platforms, reaching 5 million subscribers as of November 2025. In addition to video streaming, the platform provides an ebook distribution service. As of 2024, U-Next holds a 17.9% market share of the subscription video-on-demand (SVOD) sector in Japan, ranking second only to Netflix.
The platform integrates the HBO Max library and Paravi, featuring TBS Television and TV Tokyo content, as bundled services. It also distributes NBCUniversal libraries, including Peacock Originals, and Paramount libraries with Paramount+ Originals, with some titles streamed exclusively in Japan. Additionally, football matches such as La Liga and Premier League are available via dedicated hubs.
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