For the six months that ended on September 30, 2024, MultiChoice Group reported a significant increase in revenue overall across all of its new product lines but a general loss from all new and old products.
There was a rise of 71 percent in DStv Stream, an increase of 85 percent in DStv Internet, and a reduction of 31 percent in DStv Insurance.
King Makers in Nigeria saw a 27 percent increase in monthly active users, accompanied by a 53 percent increase in Naira income. South Africa was another country in which Super Sport Bet has shown early success.
In spite of these achievements, the firm had difficulties brought on by fluctuations in the foreign currency market and pressures from the macroeconomic environment, which resulted in a decrease in earnings of about ZAR7 billion.
MultiChoice responded by adjusting its cost base, which resulted in a savings of ZAR1.3 billion over the course of six months.
Calvo Mawela, the CEO of the company, spoke about the company’s excellent liquidity, which includes ZAR10 billion in accessible capital, as well as its attempts to restructure itself in order to adapt to the present economic environment.
There was a fifty percent year-over-year increase in the number of paying users for Showmax, and the company is spending ZAR1.6 billion to extend its streaming ecosystem.
Additionally, Mawela highlighted the progress that the firm has made in overcoming technical insolvency and adjusting to the ever-changing pay-TV industry.
He cited significant milestones, such as cooperation between Showmax and Comcast and profitability throughout the rest of Africa.
