Amid the revenue growth chaos that has hit the major streaming platform, netflixoff-balance sheet, African Wi-flix is experiencing revolutionary growth.
Launched just over a year ago, Wi-flix, Africa’s fastest growing video-on-demand streaming platform, has surpassed the one million paid subscriptions milestone and the 300,000 milestone clients.
The online streaming platform has grown rapidly in recent months with more content and distribution partnerships and more titles added to its library, attracting a major following.
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To celebrate this milestone, Wi-flix is giving the first 1,000 customers to use the code WIFLIX1MILLION FREE access for 48 hours to enjoy all their favorite movies, series, kids content and live TV shows.
Co-founder and commercial and technological director at Wi-flix, Louis Manu expressed his delight at the progress made during a short period of operation.
“We reached the 1,000,000th paid subscription milestone on March 3, 2022 exactly at 12:13 GMT+1 by Elue, our valued Nigerian customer. We called Elue to share this special moment and thank him especially for being a loyal customer.
“Reaching over one million subscriptions by over 300,000 customers in just over a year is a remarkable benchmark for any streaming platform that we don’t take for granted. We saw 51% and 61% growth in revenue and subscriptions simultaneously in the first quarter of 2022. Daily customer renewal revenue is at an average of 22x over the past 3 months versus an average of 9x in 2021,” he said.
“We believe in the unbeatable product proposition we offer our customers and the incredible team of experts we have built since our launch, but reaching this milestone in this short period of time confirms that we are indeed on track for greater achievements,” he added.
Wi-flix plans to expand its services to other African markets including South Africa, Lesotho, Kenya, Democratic Republic of Congo, Mozambique, Zambia and Tanzania soon after its launch in Ghana and in Nigeria, providing customers with exciting and diverse African entertainment content.
Governments across Africa have been pushing for the inclusion of local content, and for companies like Wi-flix this is a good strategy to win over consumers.
“Thanks to the positive feedback from our esteemed customers, so far it has also been necessary to continue rolling out innovative features, original titles and a host of ongoing developments. Here are many more milestones for the Wi-flix family,” Manu said.
Bright Yeboah, co-founder and chief operating officer, said the company plans to offer “multi-angle content” that will include content from Africa.
“We are thrilled to reach these bold numbers in just over a year in operations bringing more content mixed across a variety of playlists like blockbuster movies, documentaries, drama series, animations, live television and music videos.
“We can assure our customers around the world of our promise to expand our multi-angle content offerings, including Wi-flix originals and more quality content from renowned filmmakers from Africa and around the world,” a- he declared.
Revenue from the streaming video (SVoD) segment is expected to reach $82.43 billion in 2022. Revenue is expected to show an annual growth rate (CAGR 2022-2026) of 8.89%, which will result in a volume of projected market of $115.90 billion by 2026, according to Statista data. With the rapid growth rate of Wi-flix, the newbie is expected to grab a major share of this lucrative future, dominating the African movie streaming market.