MultiChoice expects multi-billion rand loss

[Hanno Labuschagne]

MultiChoice expects multi-billion rand loss

DStv parent company MultiChoice has warned shareholders about a massive decline in profit ahead of the publication of its annual results for the 2022/2023 (FY23) financial year.

The broadcaster is currently finalising its results and told shareholders it expected to report substantial drops in earnings and headline earnings per share.

 

[Heisenborg]

Good

Serves you right

 

[Spizz]

Hate to say it, but everyone told you so.

 

[Speedster]

But, but, but I thought imposing a single stream policy was so very good for business and driving subscription numbers up? What happened?

 

[Kayoss]

They should probably further reduce their DSTV now simultaneous live streams to zero

 

[AfricanTech]

MultiChoice expects multi-billion rand loss

DStv parent company MultiChoice has warned shareholders about a massive decline in profit ahead of the publication of its annual results for the 2022/2023 (FY23) financial year.

The broadcaster is currently finalising its results and told shareholders it expected to report substantial drops in earnings and headline earnings per share.

Interested to see what the attribute the losses to.

Those of us who got screwed over by their single-stream policy will feel some schadenfreude - they should have allowed people behind the same IP address to have multiple streams

 

[dualmeister]

 

[Duan]

Maybe they should not have alienated those paying the subscriptions? But eh, lets just screw over our customers seems like the right decision, especially in hindsight...

 

[dualmeister]

PS, not due to subscribers.

MultiChoice blamed the reductions on two main factors:

Higher unrealised foreign exchange losses on the translation of the Group’s USD liabilities (including transponder leases) stemming from the sharp depreciation of the Rand against the US dollar

An increase in foreign exchange losses associated with the repatriation of cash from Nigeria at the parallel

 

[borro]

 

[gogga_]

New Netflix user here. Couldn't be happier with the value for money as opposed to DSTV rip off.

 

[daveza]

shem.

 

[mr_norris]

Interested to see what the attribute the losses to.

The bad rand:

MultiChoice blamed the reductions on two main factors:

• Higher unrealised foreign exchange losses on the translation of the Group’s USD liabilities (including transponder leases) stemming from the sharp depreciation of the Rand against the US dollar
• An increase in foreign exchange losses associated with the repatriation of cash from Nigeria at the parallel

 

[wingnut771]

Come on multichoice, just do what eskom does when they lose money, just increase the prices to compensate.

 

[epah]

New Netflix user here. Couldn't be happier with the value for money as opposed to DSTV rip off.

Just watch The Ozarks. Worth every damn penny that show. Wow.

 

[epah]

Come on multichoice, just do what eskom does when they lose money, just increase the prices to compensate.

Or ask shareholders for bailouts?

 

[Benedict A55h0le not]

Massive.

 

[Benedict A55h0le not]

Not deep, not huge.

 

[Spizz]

Or ask shareholders for bailouts?

Koos Bekker could drop a coupla billion and still not miss it.

 

[r00igev@@r]

So they can't blame shared passwords on streaming for losses?