MultiChoice has released its first HY results for the 2021 FY, ended in September 30.
The video entertainment company says that it netted 1.2 million 90-day active subscribers YoY.
The period under analysis closed with 20.1 million households that are served by the company. This is also the first time that the company has reached a +20 million milestone.
MultiChoice’s customers are mostly in South Africa; 43 percent of the households served (8.7 million) reside in SA, whereas the rest of Africa take the other 57 percent.
The company’s core earnings were up 41 percent to hit R.2.7 billion (KES 18.84 billion), with the strong growth linked to a 38 percent improvement in organic trading profit and lower net realized foreign exchange losses.
MultiChoice’s revenues increased by 2 percent to R26.1 billion (KES 182.27 billion).
DStv Explora Ultra goes on sale, finally
The new decoder was announced a couple of months ago.
MultiChoice calls it its next-gen box that will offer customers an improved viewing experience. Of course, the box is loaded with its video streaming app Showmax besides its normal array of content.
MultiChoice has since partnered with other players, including the likes of Netflix. This is an interesting development that will see customers hook up the new decoder to the internet and log into their Netflix accounts to enjoy motion pictures. It is interesting because for a long time, MultiChoice has been lobbying authorities to ‘regulate’ Netflix, which has proved popular since its entrance in the SA market.
The decoder will go on sale in the coming week.
MultiChoice says that it has completed a 20 percent investment in BetKing, a sports betting group that operates in Kenya, Nigeria, and Ethiopia.
MultiChoice reveals that the upfront investment cost $81 million, and might potentially soup up the deal with an additional $31 million should certain targets be met before 2024.