Pay-TV Company Kwesé is shutting down its operations in Kenya as a result of stiff competition and hard economic times.
The company will henceforth shift focus to Over The Top (OTT-streaming services) and video-on-demand services, according to a statement from the firm.
This comes barely two years after launch as Econet, a reflection of stiff competition from the numerous digital service providers in the country.
“Refocusing our business offering across markets, is a strategic move which aligns our business to Over The Top (OTT-streaming services) and video-on-demand trends which present significant growth opportunities for Kwesé. This renewed focus on digital services will see us provide new compelling offers for our customer’s enjoyment,” said Mr Joe Hundah, Group President and Chief Executive.
Subscribers of Kwese satellite TV will access free-to-air (FTA) stations only after the firm does away with third-party channels.
The company now will focus on its other brands that include Kwese Free Sports, video-on-demand business Kwese Iflix and streaming service Kwese Play businesses.
Joe Hundah, Group President and Chief Executive of Econet Media, says the business’ repositioning is in response to market trends.
“We believe these changes will safeguard the future success of our business as we continue to make an indelible impact on Africa’s media industry. The revised business strategy will also ensure that Kwesé TV continues to remain competitive within the industry,” said Mr Hundah.
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