NextSpeel is a video on-demand internet streaming platform that enables you watch the best of TV series and Soap Operas from Nigeria and around Africa. They are bringing to everyone for the first time in a consistent manner, full episodes of TV drama series and Soap Operas from Nigeria and eventually Africa.
It was founded as a company in 2012 but there was a lot of underground work on the product for a while. The first version of the product was launched on June 13, 2013 with an all free access to put the word out there and build the user base while they expand their video library.
InnovationVillage caught up with the founder of the company, Larry Oti, who also heads Engineering and Business Development int he company.
InnovationVillage: With the limited access to bandwidth, do you think your service will attract a lot of Nigerians?
Larry Oti (Nextspeel): Nollywood is a typical example of Nigerians consuming their own products so definitely there would be reception. We are making a change to traditional delivery methods and the idea of no time schedule on TV series and access to Africans in the diaspora would be a welcomed idea. Our default answer would be that our larger market is in the diaspora but talking about Nigerians in Nigeria, we are working on a lot of possibilities especially on the technology side to make these videos accessible even with the current state of bandwidth in the country.
InnovationVillage: Who do you identify as your competitors and how do you hope to outperform them?
Larry Oti (Nextspeel): There are currently a number of players making entrance into the Video On Demand business in Nigeria and Africa. A guy is Nairobi could be as much of a threat as a guy in Lagos. We would just need to move fast and make less mistakes. Our differentiating factor would be in our content niche. If we want to do TV solely, then I think we would do good once we play right. We also think we can have an upper hand in user experience and product offering.
InnovationVillage: Do you think you have access to a ready supply of these Soaps and TV series?
Larry Oti (Nextspeel): We do have access. We are out there everyday looking and negotiating for the best of content around Nigeria. New series and Soaps are coming into the market with better quality in terms of story and production quality while more episodes of existing Soap operas are being shot with higher standards so yes, the supply is there.
InnovationVillage: How have you ensured that your content cannot be downloaded for offline play?
Larry Oti (Nextspeel): We use some advanced content protection protocols to prevent stream ripping, downloads and make sure that videos play only in the authorized video player.
InnovationVillage: Is your service optimized for streaming on mobile devices? If not? When will it be?
Larry Oti (Nextspeel): Currently, there are no mobile apps yet and you can’t actually watch a video on mobile but you can browse through the site. We have spent the last couple of week and are still on mobile optimization currently. We want to come out with a near smooth experience and that should be available soon.
Larry Oti (Nextspeel): We would be introducing the paid subscription before the end of the year. Users would be required to pay a small amount monthly to have access to new premium episodes, new series and Soap operas. Subscription is known to be a solid revenue model once the numbers are behind you. There is a lot of work to be done before we start asking for money. First, we need to build our library so as to provide value for money and even at that we still need to do some extra convincing to let users know that we would be providing an experience and a more glamorous life [on TV] than what they currently have.
InnovationVillage : What model for subscription will be available?
Larry Oti (Nextspeel): A monthly subscription is what we would be taking on for now. If it ever changes, everyone would get to know.
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