MultiChoice published its annual results for the 2024 financial year, revealing strong revenue growth for Showmax.
MultiChoice has released its annual results for the year ended 31 March 2024, revealing strong growth in revenue generated by its streaming video-on-demand service, Showmax .“FY24 represented a pivotal year for Showmax . Having officially concluded the partnership with Comcast in April 2023, the long-awaited relaunch took place in February 2024,” said MultiChoice.However, MultiChoice noted that Showmax ’s trading losses increased to R2.
It noted that this was due to some operational expenditure and depreciation shifting into FY2025, given the launch of Showmax towards the end of FY2024.It says Showmax’s growth post-relaunch compensated for the termination of its higher-average revenue per user Showmax Pro service.“It delivered record single-month growth in March 2024, with the paying subscriber base growing 16% from the migrated base at relaunch to year-end.
Multichoice Showmax Showmax 2.0 Yolisa Phahle Broadcasting
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