Mondia, a Dubai-based tech firm, has announced the launch of its time-based entertainment platform Monsooq in South Africa. Monsooq is a first-of-its kind model where time is the currency and users pay only for the time they spend consuming content.
Monsooq does not require contracts or subscriptions. Instead, new visitors to monsooq.com will receive 60 minutes’ worth of free access to content, after which pricing is just R2 per 30 minutes.
This unique time-based model allows consumers to buy entertainment time just as they would cellular airtime and use that time to consume any content they choose, including movies, series, games and music – all on a single, convenient, end-to-end entertainment platform.
Whether a consumer wishes to play a game for 30 minutes while commuting, or binge a new series for six hours, they are able to load that amount of time to their profile securely debit or credit card. And when their time ends, they simply top up with more.
“Africa is the next frontier in regard to digitalisation. Our extensive footprint, increasing customer base and significant experience in the region make Africa a natural choice of focus for us,” said Dr Amadeo Rahmann, Mondia CEO.
“African markets are primed for the democratisation of content, and Mondia is firmly focused on changing the way in which people consume entertainment. Mondia has incredible reach and deep understanding of the geographies in which we operate, with 1.4bn potential users in the right emerging markets.”
Mondia sees exceptional potential on the continent. Africa has a population of 1.1 billion,
which is expected to double by 2050. Africa also has the youngest population of any continent. This demographic dividend is expected to generate 10-15% GDP growth in the next 15 years. According to research conducted by PwC South Africa in 2019, entertainment and media (E&M) spend in South Africa is expected to reach US$10bn by 2023. Nigeria saw a 25.5% rise in E&M revenue in 2017 to US$3.8 billion.
Monsooq features a world-class recommendations engine to ensure consumers find the content they love. Content will be localised and customised, with a minimum of 50% of local content offered alongside international content. Mondia aims to build a content economy and bring value across Africa as Monsooq expands.