Naspers says it can cope with Netflix challenge in South Africa

A USB key with the logo of Netflix, the American provider of on-demand Internet streaming media. REUTERS/Gonzalo Fuentes

Naspers, the largest listed company in Africa, said it was not worried about Netflix‘s arrival in South Africa, adding it believed the market for video on demand was large enough to accommodate more players.

Africa’s most advanced economy, where a rapid expansion of fiber optic broadband in more affluent neighborhoods has allowed streaming of movies and TV series, was one of more than 130 new markets Netflix entered this week.

Naspers launched its own Showmax video-on-demand unit in August that has been airing a mix of international and local content to build a base of subscribers.

“It’s good news that we have another major player in the market who’ll generate additional interest in internet TV,” Naspers’ Showmax spokesman Richard Boorman said on Thursday.

Read more: Naspers says can cope with Netflix challenge in South Africa – Yahoo Finance