TStv is back... again
After three years of silence from TStv
in partnership with FLUTTERWAVE, THE BULB AFRICA & ENDEAVOR 05.10.2020
Good morning. We've seen people use the internet to execute some really bad ideas, but this one, featuring house owners in Lagos is right up there with the worst of them. In today's edition: -TStv's relaunch -Netflix vs Showmax -Digital payments Please take a minute to send this newsletter to everyone you love. If your friends sent this to you, you definitely mean a lot to them. Subscribe here and don't forget to pay it forward.
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TSTV IS HERE...AGAIN
Nigerians have a love-hate relationship with DStv. On one hand, it is one of the country's popular cable TV providers. But on another hand, most Nigerians complain about DStv's "monopoly" of the cable TV market. It explains why, when TStv, a rival cable TV provider announced plans to launch in 2017, a lot of people were excited. TStv's model was also different from the existing competition. The company said it would allow customers pay for only channels they wanted to watch. They had an interesting promise but there was only one problem....no one could buy TStv's decoders because you simply couldn't find them. As far as problems go, that's a pretty big one. But TStv says it has now solved that problem and it's ready to relaunch after taking three years to "internally build trust." For now, their first test is making their product available to the public for purchase.
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NETFLIX VS SHOWMAX
One sentiment I heard a lot last year was that Netflix could overthrow MultiChoice's DStv as the home entertainment option of choice for Africans. "When Netflix launched in Africa in 2016, DStv’s decoder business became vulnerable. Between 2016 and 2018, the internet-powered Netflix gained around 400,000 subscribers in Africa, mostly in South Africa, Multichoice’s home market. In 2019, it reportedly had 152,588 subscribers in the country." But Netflix has not pulled off that coup. Instead, what we've seen is MultiChoice shrugging off its customary laziness with digital products to really compete with Netflix. MultiChoice launched its own video streaming platform, Showmax to provide on-demand video streaming and live TV including football matches, music and news. Great product...check. Showmax's basic subscription fee of $7.48 is cheaper than the cheapest Netflix subscription ($7.99). But what has really changed the game for MultiChoice's Showmax has not been price. Instead, it is content like Big Brother Nigeria. In fact, one report estimates that Showmax will have 1.65 million subscribers in Africa by 2025. The bottom line according to Abubakar Idris: content is shaping the Subscription Video On Demand (SVOD) wars in Africa.
DIGITAL PAYMENTS
According to one study, more than four in ten customers in Nigeria say they walk into bank branches to pay bills, compared to 26% who use bank apps. If that figure is shocking, consider this: in 2015, 97% of bank customers did their business in banking halls. Nigerian banks are now trying to change because it is a huge growth opportunity for them. They want more customers to use bank apps to make payments, and they want new customers to be able to open accounts only by downloading a mobile app. So Alexander Onukwue asks in this article: how are Nigerian banks faring with fulfilling this digital demand for convenience?
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WHERE ARE YOU READING THIS?
Last week, we wanted to know some of the people who read this newsletter. So we asked you to tell us where you are when this newsletter drops in your inbox. We got some interesting answers and we'll share some of them over the week. Here's Sadiq who emailed us from Finland: "Hi team, Keep up the good work. Really informative. I mostly read while I'm using the toilet. Great way to pass time."
See you tomorrow!

- Olumuyiwa

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