By Zuko Komisa
Multichoice is bleeding premium subscribers
A slower fall in Compact Plus subscribers has affected the company’s overall “premium” segment, despite DStv Premium adding a few subscribers in South Africa during the past year.
According to MultiChoice, the broadcaster’s parent business, the most recent interim results for the first half of the broadcaster’s 2023 fiscal year (1H FY23) were released on Thursday, November 10, 2022.
The results revealed its 90-day active subscribers in the premium segment in South Africa — declined by 3% between September 2021 and September 2022.
That resulted in a drop of roughly 1.4 million to 1.3 million “premium” segment customers, which includes DStv Premium and Compact Plus subscribers.
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Kaya Biz with George Manyosi standing in for Gugulethu Mfuphi spoke Calvo Mawela, CEO of MultiChoice Group spoke about these results.
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The report also reveals that the group reported group revenue up 7% to R28.65 billion for the period, with operating profits up 6% to R6.2 billion.
At the same time, it posted a headline loss of R248 million – loss per share of 60 cents – owing to net foreign exchange translation losses of about R3 billion attributable to the weaker rand.
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