by Thinus Ferreira
MultiChoice and NBCUniversal have pumped another $164 million (R2.8billion) in funding into its relaunched Showmax streamer joint venture.
NBCUniversal, a subsidiary of Comcast, acquired a 30% stake in the so-called "Showmax 2.0", a relaunched streaming effort to take on Netflix in Africa through the holding company Showmax Africa Holdings Limited (SMAH).
MultiChoice and NBCUniversal had already invested $120 million in Showmax by 31 March 2024, and has now funnelled another $164 million into the streamer since April.
MultiChoice and NBCUniversal want to try and catch up with Netflix's frontrunner status in Africa and are pumping millions of dollars into Showmax during its investment phase, while MultiChoice is commissioning local Showmax Originals in South Africa, Kenya and Nigeria, while Comcast is providing licensed content from NBCU, Universal Pictures, Peacock and Sky.
MultiChoice in an announcement on Thursday, said "Since 1 April, MultiChoice and NBCUniversal provided, $164 million in equity funding to SMAH, each in proportion of their respective shareholdings".
