Cell C Black Financial Report Reveals $37 Million Spent On Content Acquisition
The rights are stated on the report as contractual obligations that were for programme and film rights that the company acquired for the period between 3-to-5 years.
Cell C launched its VOD streaming platform, Black in November 2017, and labelled it to be the future of entertainment.
It offers a selection of streaming packages including monthly, weekly and even daily subscriptions.
Black boasts a content offering that includes movies, series and sports.
In January 2019, Black offered potential subscribers a 7-day free trial of its premium subscription package (“Binge Elite”) to encourage new sign-ups.
Previously, Black’s free trial had only offered its entry-level package, Binge Select, but that trial had been available for 30 days.
Cell C’s financial figures for 2018 show that while the company gained a total revenue of $1.1 billion, it suffered an overall comprehensive loss of more than $90 million.
The mobile operator’s poor performance has negatively affected its major shareholder Blue Label in the past few months, with its share price on the Johannesburg Stock Market dropping drastically between January and December 2018.
However, The CEO of Blue Label Telecoms, Brett Levy is optimistic about Cell C’s future and said that the telecoms network provider has a clear vision and strategy going forward.
Credit: This article originated from www.mybroadband.co.za