Nigerian film-streaming platform iROKO Partners Ltd. will give users the option of buying access for as briefly as one day, according to a Bloomberg report.
iROKO has spent time looking at purchasing habits in Nigeria and other African countries where it operates and there’s a clear pattern of people preferring to pay in smaller installments, according to founder and Chief Executive Officer Jason Njoku.
“In Nigeria, someone wouldn’t fill up their tank, they’d literally buy enough to physically get through their journey,” he said in an interview in Cape Town. “There is a mind-frame of having accessible cash.”
iROKO will probably add daily and weekly plans to its monthly option in Nigeria, Ghana and Tanzania in the next few weeks. It will also have about 20 different options for consumers to pay for its service by the end of March. The fact that the overwhelming majority of payments, including for pay-TV, are made in cash is one of the reasons why he’s not worried about Netflix Inc.’s expansion in Africa.
“There are peculiarities which you have to embrace, otherwise you can’t win in the local market here,” he said. “We’re going to go that extra mile because we are here and we know what it’s about.”