Naspers to launch Netflix ‘competitor’

(File)
(File)

Johannesburg - Multinational media and technology company Naspers is gearing up to unveil an internet streaming service that will take on Netflix in developing markets.

A person with knowledge of the matter told Fin24 that Naspers will launch the streaming service at an event in Johannesburg next week.

Furthermore, Fin24 understands that the service will be part of a new Naspers company that is separate to pay-TV service MultiChoice.

Naspers owns MultiChoice, which delivers pay-TV services to 50 countries and over 8 million households across sub-Saharan Africa. Naspers also has global interests with stakes in Chinese internet giant Tencent, Russia’s mail.ru and Middle East e-commerce service Souq.com.

It is unclear what content the Naspers streaming service will offer. However, Fin24 understands it is expected to be an extensive array, with local and international productions that cater to developing markets like South Africa.

The move by Naspers to launch an internet streaming service also comes as Netflix plans to roll out its offering in more markets such as South Africa by the end of 2016.

Local data centre company Teraco told Fin24 earlier this year that it has been in discussions with Netflix about bringing the service to South Africa.

In the meantime, other companies have launched streaming services in South Africa. Times Media Group launched Vidi last year, while MTN also has its FrontRow offering.

* Fin24 is part of Media24, a subsidiary of Naspers.

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