MultiChoice Group has reported fiscal performance for the year ended March 2024 (FY24), providing a Trading profit margin 26%. in South Africa, while increasing trade gains in the rest of Africa by 48%despite very difficult macroeconomic conditions.
Read here the full financial report
By The Numbers
- Multichoice’s total subscriber base decreased by 9% with Nigeria, Angola and Zambia mainly affected.
- Subscription revenue increased by 2% biologically based. However, on a reported basis, subscription revenue decreased by 7% due to to a weaker Naira.
- For the Africa region, the active subscriber base decreased to 8.1 million while in South Africa there was one down 5%. to active subscribers. Active subscribers in South Africa are now available at 7.6 million Overall, Multichoice subscribers are at 15.7 million.
- MultiChoice is by far the largest producer of original content on the African continent. In FY24, the team again produced over 6,500 hours of local content and its local content library now has more than 84,000 hours of content, an increase of 12% year-on-year.
What they say
“Four years after defining a clear strategy to build Africa’s entertainment platform of choice and investing in services to support a wider ecosystem, our three core divisions are now fully operational: video entertainment, interactive entertainment and fintech. Our focus now shifts to building on these solid foundations to drive growth in these new areas and to further enhance business efficiency across our operations.” he said Calvo MauellaCEO of MultiChoice Group.
While we are not alone in feeling the challenges of a weak consumer environment, I am proud of the speed and effectiveness of the team in implementing strategic actions to retain customers, ensure cash generation and cost savings that exceeded our targets. It is the strength of this team, the quality of the underlying business and the clarity of our strategy that underpin my confidence in delivering on our potential,” he added.
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