A recent announcement that Betway has replaced DStv as the title sponsor for South Africa’s Premier Soccer League shows the pay-TV platform’s financial struggles.
A recent announcement that Betway has replaced DStv as the title sponsor for South Africa’s Premier Soccer League shows the pay-TV platform’s financial struggles.
However, SABC reported that DStv was “concerned about continuing to carry the costs of a partnership that runs into multimillions per season”. MultiChoice also suffered a 9% decline in active subscribers, mainly due to a 13% decline in the Rest of Africa business and a 5% decline in South Africa. Simply put, MultiChoice cannot settle all its liabilities if all its assets are liquidated. This is a dismal state for a company.
MultiChoice CEO Calvo Mawela also said the company can still achieve significant cost savings. Ending DStv’s PSL partnership is one such initiative.MultiChoice faces a delicate balancing act between keeping premium subscribers and competing against streaming services. Another challenge is the unhappiness related to exclusive sports rights to matches of national importance, like those of the Springboks.
“I’m not going to be an enabler of the majority of our people not being able to watch the national rugby team or soccer team,” he said.
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