SpringHill, the media company co-founded by NBA star LeBron James, reported a $28 million loss for 2023 on $104 million in revenue, according to a Bloomberg report. The company, which reported a $17 million loss in 2022 and has yet to turn a profit, continued to face challenges in 2024, along with the rest of the industry. However, it recently announced a new merger, and with it, hopes of profitability. Challenges in a Changing Market SpringHill’s struggles mirror those of other production companies founded during the streaming boom. As platforms
Showmax, a South African company, has surpassed Netflix to become the leading streaming platform in Africa. With a subscriber count of 2.1 million in Africa as of November 2023, surpassing Netflix’s 1.8 million, Showmax’s rise signifies a significant change in the region’s media consumption habits. Showmax Showmax is an online subscription video-on-demand service that launched in South Africa in August 2015. Its majority owner is MultiChoice, which owns 70% of the Showmax group, while NBCUniversal owns 30% in all territories except Nigeria. The platform’s content strategy, which focuses heavily on
