In a move to support its ambitious growth strategy, Showmax, Africa’s leading streaming service, is adjusting prices for some of its plans starting in August 2024. This follows a successful platform relaunch in January that saw a near-complete user migration to the new Showmax platform and a high reactivation rate. The standard entertainment and mobile plans will see modest increases, but the popular Premier League option and bundled packages will remain unchanged.

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These adjustments come after a period of introductory pricing to incentivize users during the relaunch. While Showmax experienced a trading loss, the company is encouraged by its significant growth, exceeding internal forecasts and achieving record subscriber gains in a single month. Looking ahead, Showmax aims to reach profitability by 2027 and generate substantial revenue by 2028.

To achieve these ambitious goals, Showmax is planning a multi-pronged approach.  First, it aims to dramatically expand its subscriber base.  However, analyst predictions suggest the total number of African streaming subscribers might only reach 15.6 million by 2028. MultiChoice, however, is confident that video streaming will experience explosive growth on the continent. They’re aiming to reach a combined subscriber base of 50 million across Showmax and their DStv service by 2028, with a staggering target of 25 million subscribers for Showmax alone.

To fuel this subscriber growth, Showmax is placing a strong emphasis on local content.  Partnering with M-Net and other regional channels, the platform has released nearly 60 original productions across key African markets in the past year. This focus on local content creation reflects Showmax’s commitment to providing a compelling and culturally relevant viewing experience for its African audience. With strategic price adjustments and a strong focus on local content, Showmax is making a significant push to solidify its position as a dominant player in the rapidly evolving African streaming market.