The pay-TV operator faces “the most challenging operating conditions in almost 40 years to generate desired returns”.
Video entertainment firm MultiChoice is facing “the most challenging operating conditions in almost 40 years" to generate desired returns.The DStv operator today announced its interim financial results for the six months ended 30 September, saying unprecedented foreign exchange volatility severely impacted the group’s results, while ongoing macro-economic challenges weighed on customer growth and moderated overall performance.
Combined with the impact of a weak macro environment on consumers’ disposable income and therefore on subscriber growth, it required the group to fundamentally adjust its cost base – which is exactly what has been done, says the video entertainment firm. Showmax, which reported 50% growth year-on-year in its paying customer base, strategically positions the business to actively participate in the streaming revolution as it gains momentum across Africa, says the firm.
Meanwhile, the group reported strong momentum in its new products and services, which all delivered robust YOY revenue growth – DStv Stream , DStv Internet and DStv Insurance . On a reported basis, revenues declined by 10%, impacted by foreign exchange pressures on the rest of Africa business and a stronger rand against the US dollar, says MultiChoice.
DSTV Calvo Mawela Showmax Video Entertainment Kingmakers Dstv Stream Pay-TV Canal
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