What is Showmax, the African streaming service that took over Netflix's throne?
A number of companies, including Netflix and Amazon Prime Video, are competing for supremacy in the video streaming services market around the world. In Africa's video streaming service market, it has been reported that
How Showmax, an African streaming service, dethroned Netflix - Rest of World
https://restofworld.org/2024/showmax-subscription-africa-netflix/
Showmax, which was spun out from Africa's largest entertainment company
According to market research firm Omdia, there were 1.8 million Netflix subscribers on the African continent as of the end of November 2023, compared to 2.1 million for Showmax. It is also reported that Netflix's market share has decreased to approximately 33.5%, while Showmax's market share has increased to approximately 38.7%.
It has been pointed out that Amazon Prime Video had only 300,000 subscribers in November 2023, making it the third largest video streaming platform on the African continent. Additionally, in January 2024, Amazon Prime Video
In addition to partnering with American cable television broadcasters HBO and Comcast to provide users with high-quality, international English-language content, Showmax also has strong partnerships with local creators from African countries. We've built relationships. Showmax also owns the streaming rights to the English Premier League and offers a dedicated subscription plan.
Film director Tobechukwu Ejiofor told overseas media outlet Rest of World, ``When I pitched the idea of a documentary program to Showmax executives, they helped me develop the idea further.'' We emphasize that we are closely involved with African creators.
Ejiofor added, “Showmax understood the cultural value of the project, which made our business relationship very smooth. It seems like we're communicating with a lot of filmmakers.'
In March 2023, Comcast purchased approximately 30% of Showmax's stock. This not only gives Showmax access to Comcast's advanced technology and the capital to survive in the highly competitive video streaming service market, but also to
'Comcast's presence will help further strengthen Showmax's position, allowing us to invest in far more local productions and expand our international production base around the world,' said Showmax CEO Mark Jury. When combined with content, it becomes possible to have overwhelming power.'
Marie Laura Mungai, founder of consulting firm Restless Global, added, ``Showmax's greatest strength is the vast network of its parent company, MultiChoice. We are building TV channels across the country.'
On the other hand, it has been pointed out that Showmax is ``difficult to find content on the app.'' In response, Opeoluwa Filani, Showmax's Country Manager for Nigeria, said in January 2024, ``Showmax has launched a new app developed in collaboration with Comcast. It should be possible to find it.'
In early 2024, Showmax set a goal of ``obtaining 50 million subscribers and $1 billion (approximately 150 billion yen) in revenue by 2030.'' Experts say that in order for Showmax to achieve this goal, it will need to exceed expectations on several fronts, including pricing strategy and a smooth relationship with Comcast. In fact, Showmax is lowering subscription fees by approximately 50% in 2024 in order to achieve its stated goals.
'Global partnerships with foreign companies like Comcast are difficult because differences in work culture can lead to disagreements,' said Laura Mungai. We need to carefully navigate the risk of failure.'
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