THE Broadcasting Authority of Zimbabwe (BAZ) has awarded leading diversified media group Alpha Media Holdings (AMH) a licence for online television and radio channels, in terms of Section 10 of the Broadcasting Services Act (Chapter 12:06).
Through its subsidiary, Heart and Soul Broadcasting Services, AMH, publishers of NewsDay, The Zimbabwe Independent and The Standard, can now provide video-on-demand (VOD) and webcasting services, as the group moves to tap into the growing tech-savvy population.
AMH managing director Kenias Mafukidze said the licence will enable the company to expand its market and deliver more value to its already huge internet following.
On all its online platforms, including the three websites and their respective social media segments, AMH has a following of over four million.
“The way in which we consume news and entertainment has changed dramatically over the past decade, creating exciting opportunities for traditional broadcasters. Come to think of it: Millennials spend more time streaming content than watching it on television, and more than 20% of them are viewing shows on their mobile devices. Streaming services are growing rapidly, with around 60% of consumers using,” Mafukidze said.
“Being able to offer VOD allows our users to select and watch and listen to video or audio content such as movies and TV shows whenever they choose, rather than at a scheduled broadcast time. This will complement our leading print offerings. We are committed to investing into the delivery of content to our loyal customers.”
The global media and entertainment industry market is worth US$2 trillion and has grown by nearly 5% annually. In 2016, the United States market alone accounted for US$712 billion.
VOD viewers are expected to reach 209 million by 2021, up from 181 million in 2015.
“In this regard, as AMH, we are repositioning our business to take advantage of the new opportunities in the digital space. The future lies in being able to distribute content in creative ways to different audiences,” Mafukidze pointed out.
He said AMH was focussed on improving customer engagement on all its platforms, creating efficient and effective content marketing and distribution strategies.
Globally, shifts in digital media—particularly the manner in which content is delivered or consumed — have had an impact on traditional, print-based legacy media, which explains why innovation has become a buzzword in the media industry.