Entertainment platform Monsooq launches in SA
MOBILE technology Company Mondia recently announced the launch of entertainment platform Monsooq in South Africa. Monsooq is a platform where time is the currency and users pay only for the time they spend consuming content.
The platform does not require contracts or subscriptions. Instead, new visitors to monsooq.com will receive 60 minutes worth of free access to content, after which pricing is R2 per 30 minutes. This time-based model allows consumers to buy entertainment time just as they would cellular airtime and use that time to consume any content they choose, including movies, series, games and music – all on a single, convenient, end-to-end entertainment platform.
Whether a consumer wishes to play a game for 30 minutes while commuting, or binge a new series for six hours, they are able to load that amount of time to their profile securely debit or credit card, and when their time ends, they top up with more.
Dr Amadeo Rahmann, Mondia CEO, says: “Africa is the next frontier in regard to digitalisation. Our footprint, customer base and experience in the region make Africa a natural choice of focus for us.”
Africa has a population of 1.1 billion, which is expected to double by 2050. Africa also has the youngest population of any continent. This demographic dividend is expected to generate 10-15 percent GDP growth in the next 15 years. According to research conducted by PwC South Africa in 2019, entertainment and media spend in South Africa is expected to reach $10bn by 2023. Nigeria saw a 25.5 percent rise in entertainment and media revenue in 2017 to US$3.8bn.
In December 2019 more Africans – 526 million – had accessed the internet than North Americans, and there is still massive potential for growth: Africa has a total internet penetration level of just under 40%, as compared to penetration in the rest of the world of 63.2 percent.
While streaming services have proliferated across Africa, especially in the wake of the Covid-19 pandemic and national lockdowns, there is an increasing need to deliver enhanced value, choice, and innovation in terms of pricing and content.
Monsooq features a recommendations engine to help consumers find the content they enjoy. Content will be localised and customised, with a minimum of 50 percent of local content offered alongside international content. The platform also represents a frontier of content monetisation for entertainment providers, giving them direct access to those customers who are not interested in a traditional subscription model.
Monsooq launches in South Africa, with other markets like Egypt, Nigeria, Tunisia and Kenya to follow.