Kwesé, a subsidiary of Econet Media has purchased a big stake in iflix Africa, further widening the basket of choice for its viewers and subscribers.
With a presence in Kenya, South Africa, Ghana, and Nigeria, iflix provides viewers with a wide basket of choice in both local (African) and international movies, series, and drama. It also features a couple of first-to-market exclusive release only on its platform.
iflix, despite being a more affordable Video-on-Demand (VoD) streaming platform, compared to its competition like Netflix, Amazon Prime, and Showmax, has still not roped in the number of viewers it expected. That is largely because what experts believe to be poor marketing strategy on iflix’s part; especially when compared to the competition.
With Kwesé buying into the company, experts argue that the VoD platform is going to boost its marketing impact. iflix is expected to ride on Kwesé’s network, content, and expertise in the continent.
“We are thrilled to deepen our operating partnership with iflix to lead the transformation of media in Africa. Our companies share a mutual passion for innovation, along with a deep understanding of the culture and evolution of digital businesses,” said Strive Masiyiwa, the Founder and Executive Chairman of Econet Group.
“Mobility in content consumption has grown exponentially in Africa and by partnering with iflix Africa we are ensuring that we are not only taking part in the evolution, but are leading the movement.”
This acquisition takes Kwesé’s efforts into becoming a leader in TV content delivery across Africa a notch higher. Kwesé subscribers will now have wider choice of videos to watch, as they will have access even to iflix VoDs.
Mark Britt, the CEO and iflix Group co-founder said: “The strengthening of our relationship with Econet Group is a huge milestone for iflix. Following the initial phase of building our business in Africa, we have seen tremendous growth across our operating markets, far exceeding our expectations. Econet’s deep experience and success in media and telecoms, will be a huge advantage and enable us to continue to grow rapidly.”