Recent data shows streaming giant Netflix is still holding onto a large chunk of South Africa’s market share in Q1 with strong competitors like Prime Video and Showmax already catching up.
Based on data shared by JustWatch, the SVOD market shares in Q1 2022 show that Netflix still has a 32% hold on the South African market though it seems it may not hold that position for long with other competing streaming platforms beginning to catch up.
Prime Video, a streaming service from Amazon that currently boasts 175 million users as of April 2021 is already proving to be a threat to Netflix in the market share area, taking up 28% which is just 4% shy. This is a clear sign that competition is growing fierce in the streaming market as companies fight to win over users.
It should be noted that Prime Video is different from Amazon Video as it offers customers a selection they won’t find anywhere else, all available to watch on practically any device. It also delivers Amazon Originals and other exclusives, popular titles included with Prime, plus premium channel subscriptions, titles available to rent or buy, live events and more.
Meanwhile, Showmax has also steadily grown within the region taking up 25% of the market share beating the likes of MUBI, Apple TV and others. Having launched in 2015, Showmax is an online subscription video-on-demand service offering unlimited series, movies, sports, kids entertainment programs and much more.
Prime Video and Showmax Slowly Catching Up to Netflix In South Africa
The recent slump in Netflix users including dropping off several shows from its platform due to a number of factors has given Prime Video and Showmax an opportunity to step up as they too want some of South Africa’s market share for themselves.
With each streaming platform offering its own features and benefits, users have a free reign to pick whatever works best for them. Content also plays a major role in determining this and Showmax has already proven that its localisation strategy and focus on offering local content has given it an advantage over other platforms.
How the next quarter holds out can mean a lot for the SVOD market as Netflix continues its reign. However, based on the stats, this could easily change in the favour of Prime Video or Showmax depending on which streaming platform rises to the top.
HBO Max, Disney Plus, Hulu, and other streaming platforms still have a hard road ahead of them as they are lagging behind in the market share. Unless the platforms come up with different strategies coupled with content diversity that seems to work for the South African audience, the situation may not change much soon.
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