MTN teams up with UK's Synamedia to launch African streaming platform

JOHANNESBURG (Reuters) - MTN Group, Africa's biggest mobile operator, said on Monday it has entered into a strategic partnership with UK video software maker Synamedia to develop a new streaming platform tailored for mobile and fibre subscribers across Africa.

Launched in 1994, MTN Group has diversified from just providing voice calls and data, to being a technology media company that also provides fintech, digital and entertainment services as voice declines.

"We see a unique opportunity to transform video consumption in Africa with high-quality, accessible and relevant content," said Selorm Adadevoh, Group Chief Commercial Officer at MTN Group.

MTN Group, which has 291 million customers across 16 markets in Africa, is hoping to capitalise on the rapid uptake of smartphones and improving telecommunications infrastructure on the continent, which have both driven demand for video streaming services.

The proposed service will leverage Synamedia's cloud-based technologies to deliver both linear television and video-on-demand content, the companies said in a joint statement.

The platform will offer diverse monetization models, including subscriptions, ad-supported content and free streaming channels with targeted advertising, they said.

Each market will benefit from a curated content strategy, adapted to local cultures, languages, and viewing habits, they added.

The parties will enter a streaming market where not only MultiChoice's Showmax has a strong foothold, but also global competitors Netflix, Disney, Amazon Prime and Apple TV.

(Reporting by Nqobile Dludla; Editing by Alexandra Hudson)