South African spending on streaming services post-pandemic has jumped significantly, but it is not enough to make up for MultiChoice’s investment in Showmax 2.0.
MultiChoice will need its new Showmax 2.0 offering to succeed in South Africa and the rest of the continent, as the country’s streaming spend alone cannot make up for the company’s massive investment in its product.
While South Africans’ spending on streaming services has grown significantly post-pandemic, this number is insufficient to make up for MultiChoice’s significant investment in its Showmax 2.0 offering. The total price for the sale of 30% of the existing Showmax business was an amount of $29 million .The pay-TV operator is pinning much of its future growth on Showmax, especially with the pressure on its satellite TV business.
However, the company believes its established role in and understanding of the African market will allow it to take on these global competitors.According to MultiChoice’s latest results, Showmax showed strong subscriber growth. Its active subscriber base increased by 13% year-on-year, growing revenue by 46% to R555 million.
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