Besides reaching a million subscribers, Starz Play also registered a 300% year-on-year growth for the subscription-based VOD service.
UAEs homegrown subscription video on demand (SVOD) service Starz Play has announced reaching one million subscribers. Their online video subscriptions and online video revenues occupy a market share of 24% and 31.53% respectively, in a fiercely competitive SVOD market in the region.
Announcing the figures, Maaz Sheikh, CEO and Co-Founder at Starz Play, said: Its an exciting time for Starz Play – particularly our reaching one million subscribers this year. We look forward to continuing to build on our success as we progress with our expansion plans across MENA into 2019 and beyond. In an increasingly competitive space, we have managed to differentiate our offering to the benefit of the customer, through working closely with partner telecom providers to offer subscribers a payment method that does not rely only on online subscription, as well as by investing in world-class content that people want to watch and watch again.
In 2019, we will continue to focus on the customer, and will seek to increase market share as well our subscriber base, with additional investments enabling further geographical expansion. In terms of the market, conditions are looking favourable for our sector, helping Starz Play go from strength to strength, with SVOD revenues in the MENA region predicted to reach US$2.1 billion by 2024.
Key milestones for Starz Play in 2018 included inking deals with Etisalat, eXtra, STC/Intigral and launching in Pakistan in September among others. Now available in 20 countries across the Middle East, North Africa and Pakistan, The VOD service has more than 10,000 hours of content including premium movies, exclusive series, Bollywood movies as well as Arabic service.
Since inception in 2014, the business has successfully secured US$125 million in three rounds of funding, with major investors including STARZ/Lionsgate (40%), SSGA formerly GE Asset Management (40%) and SEQ Investors, and Delta Partners and Founders/Management (20%). STARZ PLAY has secured tie ups with a host of leading, global studios including MGM, 20th Century Fox, Disney, Warner Bros, Universal and Fox International Channels.