Business

Amazon Bets Big on Europe as it Takes on Netflix

Published

6 years ago

October 3, 2018

Eric

Amazon is firing a new salvo in its global battle with Netflix for the booming online streaming market — and it features Julia Roberts and descendants of Russia’s tsars.

The US internet shopping leader is investing an estimated $4.5 billion (4.0 billion euros) in streaming content through its Amazon Prime Video service this year.

That figure is likely to grow further as it tries to catch up to the nearly $8 billion now being ploughed annually into content by industry pioneer Netflix.

A part of Amazon’s strategy is a focus on Europe — still more reliant on traditional TV than the United States — as it seeks to build on a subscription base that has already reached 100 million people in 200 countries.

It is so important for us that we create a global home for talent,” she said. “It’s about the world and really starting with European territories.”

Prime Video Europe vice president Jay Marine added that streaming was not a winner-take-all market because the growth trend seemed unlikely to sputter any time soon.

“There will be multiple winners. Customers will use multiple services,” said Marine.

– ‘Budgets matching aspirations’ –

The new Amazon series lineup includes “Mad Men” creator Matthew Weiner’s “The Romanoffs” — an anthology about people who think they are descendants of the last Russian tsar.

Roberts brings her star power to a 10-episode psychological thriller called “Good Omens”.

It is an apocalyptic tale that marches through the centuries and had previously been seen as too ambitious and costly for a screen adaptation.

Good Omens” novel co-author Neil Gaiman told AFP that co-productions between traditional broadcasters and online platforms were opening up new opportunities.

Amazon teamed up with the BBC for the series as it was preparing to go global last December.

“We’re incredibly lucky right now. We are in a golden age of television,” Gaiman told AFP while filming one of the episodes in London in November.

“We’re in a place where our budget can match our aspirations”.

Briton Michael Sheen plays an angel in the series and feels like he is in the middle of something exciting — and very big.

“Everyone’s going… ‘What’s the next thing to watch?’ So there’s clearly an appetite for it, which is why so many things are being made and the material is really good, and there’s budget for it,” he told AFP.

Business

Glo Launches New Internet Solution Products for Homes, Businesses

Published

2 weeks ago

April 8, 2024

Eric

Two new products, which provide internet connectivity solutions specially designed for Residential and SME commercial customers, have been unveiled by digital solutions company, Globacom.

The products, Fibre to the Home (FTTH) and Fibre to the Business (FTTB) were packaged for Glo customers to enjoy reliable and high speed internet through linked fibre services.

Globacom said in a statement in Lagos “With these services, businesses and homes can access dedicated internet speeds of up to 1GBps, allowing unlimited internet usages for seamless video calls, video and music streaming and a whole lot of other dedicated usages to promote business success and equally provide endless entertainment for homes”.

It explained that the new product comes with a unique opportunity for “Residential Estates, High Rise Apartments, Commercial SME Estates to enjoy dedicated high speed internet in their cluster”.

These services, according to Globacom, give exceptional experience and unmatched speed for users at home or in offices and are provided through hi-speed fibre – unlike copper which was being used in the past.

Positioning itself as the premier provider of innovative solutions for businesses of all sizes, Globacom assured customers of the best value for money with the new offerings, adding that users who sign on for these services will also enjoy fully dedicated bandwidth.

“We are committed to delivering the most cost-effective data connectivity experience for homes and businesses in addition to providing dedicated and reliable services.” Globacom concluded.

Business

Naira Appreciates Further, Sells at N1,280/$ at Parallel Market

Published

3 weeks ago

March 30, 2024

Eric

The naira, on Friday, appreciated to N1,280 per dollar at the parallel section of the foreign exchange (FX) market.

The current FX rate signifies a 5.19 percent appreciation from the N1,350/$ reported on March 27.

Currency traders in Lagos, also known as bureau de change (BDCs) operators, quoted the buying rate of the greenback at N1,260 and the selling price at N1,280 — leaving a profit margin of N20.

“The price of the dollar as well as other major currencies have been falling. It is affecting our business as some customers prefer to keep their currencies than change it with us,” a currency trader identified as Aliyu told TheCable.

At the official section of the FX market, the local currency depreciated by 0.69 percent to N1,309.39/$ on March 28 — from N1,300.43/$ on March 27.

Meanwhile, the Central Bank of Nigeria (CBN), on March 29, said the economy recorded over $1.5 billion in foreign exchange (FX) inflow this month, indicating its monetary policy initiatives are effective.

The apex bank said the naira is headed in the right direction, and the administration of Yemi Cardoso, CBN governor, remains committed to ensuring the stability of the market and the appropriate pricing of the naira against other major currencies worldwide.

TheCable

Business

NNPC Denies Reducing Petrol Pump Price

Published

3 weeks ago

March 28, 2024

Eric

The Nigerian National Petroleum Corporation (NNPC) Limited has declared that there is no plan to reduce the pump price of Premium Motor Spirit (PMS) aka petrol and Automotive Gas Oil (AGO) aka diesel.

The national oil company disclosed this through a statement on Wednesday by its Chief Corporate Communications Officer, Mr. Olufemi Soneye.

He said: “The NNPC Limited wishes to clarify rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.

“The company asserts that these reports are false and urges Nigerians to disregard them entirely.

“NNPC Ltd. reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country,” the statement added.