Capitec, South Africa’s second-largest retail bank, is deepening its foray into the entertainment sector through a new partnership with MultiChoice, the parent company of DStv. This collaboration will provide Capitec’s 12 million active app users with access to discounted DStv Stream plans, further enhancing the bank’s value proposition and solidifying its position as a lifestyle-oriented financial institution.
This move follows Capitec’s successful partnership with MultiChoice in August 2024, which saw the bank offering discounted rates for the streaming service Showmax to its customers. The positive response to this initial collaboration, with 50,000 Showmax voucher sign-ups in the first month, has paved the way for this expanded partnership to include DStv Stream bouquets.
“The results have been fantastic,” said Marc Jury, CEO of MultiChoice South Africa and Showmax, in a statement. “Starting next month, Capitec customers will also unlock discounts on DStv Stream plans.”
This strategic alliance leverages the strengths of both companies. Capitec, with its massive customer base and user-friendly app, provides a readily accessible platform for MultiChoice to reach a wider audience. In return, Capitec enhances its offerings by providing customers with affordable access to premium entertainment content, further increasing the appeal of its banking app.
Capitec has been actively expanding its services beyond traditional banking. In recent years, the bank has introduced various features to its app, including insurance products, funeral plans, and even savings options for children. This diversification strategy aims to cater to the evolving needs of its customers and solidify its position as a one-stop shop for financial and lifestyle services.
The partnership with MultiChoice aligns with this strategy, offering customers more value and convenience. By bundling discounted entertainment subscriptions with its banking services, Capitec is enhancing customer loyalty and attracting new users.
This latest move also reflects the growing trend of convergence between the financial and entertainment sectors. As consumers increasingly demand seamless digital experiences, companies are seeking innovative ways to integrate services and offer bundled packages. Capitec’s partnership with MultiChoice is a prime example of this trend, providing a blueprint for other companies looking to leverage partnerships to enhance their offerings and expand their reach.
While the specific details of the discounted DStv Stream plans are yet to be announced, the partnership is expected to be a win-win for both companies and consumers alike. Capitec customers can look forward to enjoying their favorite DStv content at reduced rates, while MultiChoice gains access to a wider audience and strengthens its market position.
