Contrary to what many media outlets are reporting, Kwesé TV didn’t acquire iFlix completely but actually bought significant stake in the Malaysia-based subscription video on demand (SVoD) company, iFlix.
In addition to equity, the deal also includes video content distribution partnership between the two companies. Kwese TV’s iFlix acquisition will see the latter become the former’s vehicle to deliver mobile content to millions of viewers in Africa.
“We are thrilled to deepen our operating partnership with iflix to lead the transformation of media in Africa. 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.” said an official statement by Econet Group founder and executive chairman, Strive Masiyiwa.
About Kwesé TV
ECONET Media’s Pay TV firm, Kwese TV is a pan-African media company present in 13 countries including Nigeria and has a large free-to-air broadcast network showcasing Kwesé Free Sport in over 25 countries.
Kwesé TV came into limelight in Nigeria immediately TStv launched in the country but the later is yet to take their business to the next level as they are still in ghost mode.
Nigerians are worried and anxiously waiting for the arrival of a PayTv that will compete with DSTV and give the South African owned MultiChoice company a run for their money. But so far, TStv is disappointing. Let’s hope Kwesé TV will provide a better competition.
iFlix operates in emerging markets and has commercial service in 24 territories throughout Asia, the Middle East and Africa. Its Africa territories include Ghana, Nigeria, Kenya, and South Africa.
It offers a library of content that includes Hollywood, Asian and Middle Eastern TV shows and movies. iFlox works similar to how competing services like Netflix, Showmax and iROKOtv work. Each iFlix subscription allows users to access the service on up to five devices, including phones, laptops, tablets, and television sets, for viewing at their convenience.
With this acquisition, kwese is no doubt gunning against Netflix’s foray into Africa and has its eyes on the big league. In that league are competing services like Multichoice/DStv and ShowMax, both of which are owned by Naspers.