What's Hot?
Court Orders Oxlade To Pay ₦5m Indemnity Over...
Artists gearing up for the Harlem fine arts...
International tourist arrivals doubled in 2022: UN
Amoako Boafo’s Launch of Ghana Residency Was a...
Morocco: National Finery Museum Reopens to Critical Aclaim
Five years after, Lagos Inaugurates Randle Centre for...
The future of global music is African
CAA Signs ‘Heroes’ Actor Jimmy Jean-Louis
Philly filmmaker Walé Oyéjidé captures the beauty of...
Rema’s ‘Calm Down’ Becomes Most Watched Nigerian Music...
The Culture Newspaper
  • Home
  • Arts & Exhibitions
  • Culture & Festivals
    • Culture Africana
    • Culture People
  • Fashion & Lifestyle
    • Music, Movies & More
  • News
    • Travel News
  • Opinion
    • Reviews (The Critics)
  • TCN Literati
  • Tourism & Hospitality
Music, Movies & More

Multichoice to integrate Netflix, Amazon contents into decoder

by The Culture Newspaper June 11, 2020
by The Culture Newspaper June 11, 2020

When the shares of Multichoice Group jumped by 8.5% to 102.62 rand on Wednesday at the Johannesburg Stock Exchange, South Africa, a lot of observers were shocked by the news, as it has not recorded such feat in four months.

The development, some observers said it could be attributed to the 2020 full year result of the group, which was released on Wednesday. The pay-TV announced a 5% growth in its subscribers base when it rose to 19.5 million. While it recorded a revenue growth of 3% to close at R51.4 billion, its core headline earnings was up by 38%. No wonder, it could afford to pay a dividend of R2.5 billion (N57.9 billion) to its shareholders.

Other observers argue that the development could also be attributed to the news the group broke in the financial report. The group stated that it had signed a deal with Netflix Inc. and Amazon.com, its US rivals to offer their streaming services through it’s new decoder. This move, no doubt, would help Africa’s largest pay-TV firm retain teeming subscribers and attract potential viewers.

The deal was disclosed in MultiChoice’s results presentation, tagged ‘Improve Retention’ shared on its site and seen by Nairametrics.

Multichoice Netflix

Multichoice partners Netflix

This could indicate ‘If you can’t beat them, join them’ move, as the duo rivals have been giving Multichoice run for its money, creating greater competition, offering cheaper and faster internet speeds, which enabled them to stamp their feet on the continent.

How would Multichoice benefit from the deal?

While observers await Multichoice’s announcement on how the move could affect it’s monthly fee probably in a few weeks, a top executive of the group explained that it is a win-win situation for the company.

“What would typically happen is we would get commission on whatever revenue gets generated by customers coming from our platform,” Chief Financial Officer Tim Jacobs said in a phone interview, according to Bloomberg.

Nigeria’s contributions to the figures

The financials stated that the group recorded 8% year-on-year subscribers growth in Nigeria, highest in Africa, as it recorded losses in Zimbabwe (41%), Zambia 11%, Angola 2%, while Kenya was constant. It also recorded a 22% growth in subscribers revenue in Nigeria.

No doubt, it stated in the report that the group expects it’s new bouquets and 1H FY2020 migration would earn more for the company by the end of the 2021 financial year end.

Meanwhile, Netflix has also made an effort to produce more African content. Dramas “Queen Sono” and “Blood and Water”, both South African, debuted on the service this year, supported by extensive marketing campaigns.

“There is little overlap between content on Multichoice’s Showmax, that is now 50% local, and a service like Netflix at the moment, hence we find deals with other video-on-demand services complementary,” said Jacobs.

Impact of COVID-19

The full impact of the COVID-19 pandemic on the business is yet unknown, MultiChoice explained that it expects weaker economic growth and higher unemployment in many of its markets. “The TV provider continues to film local productions, taking specific precautions such as splitting production teams,” Jacobs added.

Source: Nairametrics

0
FacebookTwitterPinterestLinkedinWhatsappEmail
The Culture Newspaper

previous post
At 40, D’banj Lands Bank Endorsement, Fights Rape Allegation
next post
Mo Abudu’s EbonyLife Signs Deal With Netflix

You may also like

The future of global music is African

January 30, 2023

‘Dark October’: Parents Of Slain Uniport Students Seek...

January 29, 2023

With ‘Lift Me Up’ Wakanda Soundtrack, Tems Earns...

January 29, 2023

95th Oscars: ‘Everything Everywhere All at Once’ Leads...

January 24, 2023

Aluu Four: Linda Ikeji’s ‘Dark October’ Coming To...

January 24, 2023

How Rema’s ‘Calm Down’ With Selena Gomez Conquered...

January 24, 2023

Ijongbon! As Kunle Afolayan Goes On Set Again

January 20, 2023

Nigerian Artistes Shine As Burna Boy, Davido, Asake,...

January 19, 2023

Akon, Asake, P-Square, Tiwa Savage, Other Superstars In...

January 14, 2023

Nigerian Cinemas Grossed Almost N7billion in 2022

January 12, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Recent Posts

  • Court Orders Oxlade To Pay ₦5m Indemnity Over Leaked Sex Tape
  • Artists gearing up for the Harlem fine arts show 15th anniversary
  • International tourist arrivals doubled in 2022: UN
  • Amoako Boafo’s Launch of Ghana Residency Was a Reminder of the Country’s Growing Arts Scene
  • Morocco: National Finery Museum Reopens to Critical Aclaim

Sponsored

Recent Posts

  • Court Orders Oxlade To Pay ₦5m Indemnity Over Leaked Sex Tape

    February 3, 2023
  • Artists gearing up for the Harlem fine arts show 15th anniversary

    February 3, 2023
  • International tourist arrivals doubled in 2022: UN

    February 3, 2023

Categories

  • Arts & Exhibitions
  • Culture & Festivals
  • Culture Africana
  • Culture People
  • Fashion & Lifestyle
  • Food
  • Music, Movies & More
  • News
  • Opinion
  • Photo News
  • Reviews (The Critics)
  • TCN Interview
  • TCN Literati
  • Tourism & Hospitality
  • Travel News
  • Travel Trends
  • Travelogue
  • What's Hot?
  • World Culture

Connect with us

Connect with us
  • Facebook
  • Twitter
  • Instagram
  • Youtube
  • About Us
  • Advertise With Us
  • Privacy Policy
  • Contact Us

@2019 - The Culture Newspaper. All Right Reserved. Designed and Developed by Zero-One

The Culture Newspaper
  • Home
  • Arts & Exhibitions
  • Culture & Festivals
    • Culture Africana
    • Culture People
  • Fashion & Lifestyle
    • Music, Movies & More
  • News
    • Travel News
  • Opinion
    • Reviews (The Critics)
  • TCN Literati
  • Tourism & Hospitality