Showmax Shuts Down Its Streaming Service In Europe
The media group said that this decision stemmed from the announcement of Naspers’ intent to list its pan-Africa video entertainment entity as MultiChoice Group on the Johannesburg Stock Exchange.
Naspers said that it also intends to unbundle its shares in the business to its shareholders at the same time. That way, Naspers will retain no further interest in MultiChoice.
The multi-national internet and media company added that after MultiChoice Group had been unbundled from Naspers, Showmax Poland would then become a standalone, one-country video entertainment enterprise that unfortunately would no longer be an appropriate strategic fit for Naspers.
It would also not be a fit for the MultiChoice Group, which is focused on Africa, according to Naspers.
Showmax first extended its services to Europe in February 2017 when it added Poland to its list of markets. A former Google executive, Maciej Sojka was employed to set up and manage ShowMax Poland.
The service was tailored for the Polish market, and over 172,000 people signed up for its first free 14-day trial.
At the time, reports said that by comparison, Netflix enjoyed 337,600 subscriptions for its month-long free trial when it was first launched in Poland in January 2016. By the end of February 2017, those numbers had dropped to 80,000 subscribers.
When questioned about the crashing of Showmax Europe, a representative for Connected Video at MultiChoice explained that Showmax Poland had been separated from Showmax Africa late last year when the Connected Video division was formed.
Connected Video said that from the perspective of Showmax Africa, there had been no change or impact. The spokesperson also revealed that there had also been no change with respect to their team in the Czech Republic.
Naspers said that it was very grateful to the Showmax team, its customers, and its partners for their belief in Showmax Poland ever since the service was launched almost two years ago.
Naspers also added that they were sorry about the ending of Showmax Poland ’s journey but assured the audiences that Showmax Africa would continue to operate as a part of the MultiChoice Group, and confirmed that Naspers’ other investments and operations in Poland are would not be affected.
Credit: This article originated from mybroadband.co.za