Africa's biggest company is launching a Netflix competitor in the US

Africa’s largest media company, Nasper’s, has plans to expand its new video streaming service to North America, Europe, and Asia, according to Bloomberg.

The service, called “Showmax,” is a Netflix competitor that will offer not only content from the likes of CBS, the BBC, and Time Warner, but also content produced on the African continent.

The $65 billion South African company hopes to attract 15 million subscribers outside of Africa, partially by leveraging a deal with Samsung to include Nasper’s service in its smart TVs, Bloomberg reports. In comparison, Netflix currently has over 60 million subscribers worldwide, and Hulu hit 9 million paid subscribers earlier this year. Amazon bundles its streaming video service with other items in Amazon Prime, which might have 60-80 million subscribers globally according to analysts at RBC Capital Markets.

Nasper’s bet seems to be that worldwide subscribers will pay a premium for African content overlooked by other streaming services. That is the differentiator. The African diaspora numbers around 30 million worldwide, according to Quartz, and could be a source of customers who feel their needs aren’t being met by companies like Netflix and Hulu.

NOW WATCH: Cable channels are speeding up ‘Seinfeld’ reruns to squeeze in more commercials

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.